Final Accounts of a Proprietary Concern — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

From the following Trial Balance of Pravin & Sons prepare Trading Account, Profit & Loss Account
for the year ended on 31st, March 2019. and Balance Sheet as on that date.

Adjustments :
1) Closing Stock is valued at ₹ 84,000
2) Wages include ₹ 800 being advance given to workers.
3) Outstanding expenses Salaries ₹ 3,600 and Rent ₹ 3,000
4) Write off ₹ 2,000 as bad debts, and create a provision for doubtful debts 3% on Debtors.
5) Amount of Machinery is reduced to ₹ 48,000
6) Charge Interest on Capital 5% p.a.

Prepare Trading, Profit and Loss Account and Balance Sheet in the Books of Arun J. with the help of
following information and Trial Balance given below for the year ending 31st March, 2019.

Adjustments :
1) Closing Stock is valued at Cost Price ₹ 13,000 where as Market Price ₹ 15,000
2) Depreciate Plant & Machinery by 5% and Furniture by 10%
3) Insurance ₹ 700 is unexpired.
4) Outstanding Salary and Wages ₹ 800 and ₹ 1,000 respectively.
5) R.D.D. is to be created 5% on Sundry Debtors
6) Goods of ₹ 3,000 distributed as free sample

Mr. Sourabh the Petty Cashier of Raje Mobile Company, Latur received ₹ 8,000
on June 01, 2019 from Head Cashier. Details of Petty Expenses for the month are as
follows :

Date	Particulars	Amount (₹)
2019 June 1	Auto fare	255
3	Courier Expenses	60
4	Postal stamps purchased	210
5	Eraser/Pen/Pencils purchased	525
6	Speed post charges	198
8	Taxi fare	390
8	Refreshment	850
10	Auto fare	310
12	Registered postal charges	142
13	Files purchased	45
14	Cartage	65
16	Computer Stationery purchased	1,650
19	Bus fare	240
19	Cleaning charges	270
20	Office sanitation charges paid	160
22	Refreshment	450
23	Telephone charges paid	270
28	Courier expenses	140
29	Unloading charges	170
30	Bus fare	150

Prepare Analytical Petty Cash Book

From the following Trial Balance and additional information given of M/s Laxmi Enterprises you are
required to prepare Trading Account. Profit & Loss Account for the year ending 31st March, 2019 and Balance Sheet as on that date.
In the books of M/s Laxmi Enterprises

Adjustments :
1) Stock as on 31st March 2019, amounted to ₹ 57,000
2) Depreciate Machinery and Furniture @ 5%
3) Unexpired Insurance ₹ 1,000.
4) ₹ 800 are written off as bad debts and create a Provision for Reserve for Doubtful Debts 5% on
Sundry Debtors and Reserve for Discount on Debtors 2% and discount on Creditors 3%.
5) Outstanding Expenses - Wages ₹ 2,200 and Office Rent ₹ 1,400.
6) Goods withdrawn worth ₹ 2,000 by owner for personal use.

Annual Insurance Premium ₹ 8,000 is paid on 1st Dec 2018. Calculate the amount of Insurance Premium for the accounting year ending on 31st March 2019.

Following is a Tril Balance of Ajay Enterprises, You are required to prepare Trading Account and
Profit & Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date

Following is a Trial Balance of Vijay Traders, You are required to prepare Trading Account and Profit
& Loss Account for the year ended 31st March, 2018 and Balance Sheet as on that date

Adjustments :
1) Prepaid Insurance ₹ 400
2) Create 10% R.D.D. on Sundry Debtors and 6% discount on Debtors.
3) Outstanding expenses : General Expenses ₹ 1,400 and Wages ₹ 1,000
4) Depreciate Furniture by 10% and Plant & Machinery by 4%
5) Sundry Income of ₹ 1,500 received in advance.
6) Stock on 31st March 2018, amounted to ₹ 30,000

Calculate the Gross Profit/Gross Loss
Purchases A/c ₹ 15,500, Sales A/c ₹ 30,000, Carriage Inward ₹ 1,200, Opening Stock ₹ 5,000, Purchases Returns ₹ 500, Closing Stock ₹ 18,000

Shreyas requested you, to prepare Trading Account, Profit & Loss Account for the year ended on 31st, March 2018. and Balance Sheet as on that date

Adjustments :
1) Stock as on 31st March 2018, amounted to ₹48,500
2) Charge depreciation on Loose Tools @ 10% and on Plant & Machinery @ 15%
3) Prepaid Insurance amounted to ₹ 500 and outstanding Rent ₹ 400.
4) Charge Interest on Capital @ 5% and on Drawings 7% p.a.
5) Outstanding Salary ₹ 650

Mr. Pramod borrowed a Loan from the State Bank of India ₹ 3,50,000 on 1st Oct. 2018 at the rate of interest of 12% p.a. Calculate the Interest on a bank loan for the year 2018-19, assuming that the financial year-end on 31st March every year.