Particulars

Purchases
Capital
Computer
Cash at Bank
Cash in Hand
Sundry Creditors
Bills Payable
Furniture
Machinery
Discount
Bills Receivable
General Expenses
Sundry Debtors
Sales
Purchase Returns
Drawings
Commission
Discount
Wages
Salary
Sales Return
Total

Royal Traders
Trial balance
Debit
71280

Credit
60000

18380
4000
2836
13000
10220
1540
12540
22000
6720
920
34156
60720
11432
5200
320
540
1800
16780
1000
177692

177692

Adjustments:
1. Salary outstanding 2000
2. Prepaid wages 300
3. Depreciation on furniture to be provided at 10% p.a
4. Machinery 15% pa
5. Reserve for Doubtful Debts to be maintained at 10% on Debtors.
6. Closing Stock as on 31st March 2013, was valued at Rs. 20000
Prepare Profit and Loss A/c and balance sheet from the above Trial balance and Adjustments

Particulars
To Purchases
Less: Returns
To Wages
Less: Prepaid
To Gross Profit c/d

To Depreciation on Furniture
To Depreciation on Machinery
To General Expenses
To R.D.D
To Discount
To Salary
Add: Outstanding
To Net Profit transfered to Capital

Royal Traders
Trading and Profit and Loss A/c for the year ended 31st March 2013
Amount (Rs.) Amount (Rs.)
71280
-11432
1800
300

59848
1500
18372
79720
154
1881
920
3416
540

16780
2000

18780
15001
40692

Royal Traders
t and Loss A/c for the year ended 31st March 2013
Particulars
By Sales
Less: Returns

By Closing Stock

Amount (Rs.) Amount (Rs.)

60720
-1000
59720

20000
79720

By Gross Profit b/d

By Discount
By Commission

18372
22000
320

40692

Liabilities
Capital
Add: Net Profit from P&L
Less: Drawings

Current Liabilities
Sundry Creditors
Bills Payable
Outstanding Salary

Royal Traders
Balance Sheet as on 31st March, 2013
Amount (Rs.) Amount (Rs.)
60000
15001
-5200
69801

13000
10220
2000

95021

Royal Traders
ance Sheet as on 31st March, 2013
Assets
Fixed Assets
Computer
Furniture and Fittings
Less: Depreciation @ 10%
Machinery
Less: Depreciation @ 15%
Current Assets
Cash at Bank
Cash in Hand
Bills Receivable
Sundry Debtors
Less: Reserve for Doubtful Debts @ 10%
Prepaid wages
Closing Stock

Amount (Rs.)

Amount (Rs.)
18380

1540
154
12540
1881

1386
10659

4000
2836
6720
34156
3416

30740
300
20000
95021

Trail Balance of Arihant Traders as on 31st march 2013. Prepare Trading and Profit and Loss A/c for the year ended 31st Marc

Particulars
Capital
Drawings
Opening Stock
Purchases
Carriage Inwards
Wages
Sales
Salary
Travelling Expenses
Misc. Expenses
Printing and Stationery
Advertisement Expenses
Postage and Teligram
Discount
Building
Rent Paid
Machinery
Furniture
Debtors
Creditors
Investments
Bank Balance
Total

Arihant Traders
Trial balance
Debit

Credit
1400000

75000
80000
1620000
15000
110000
2500000
100000
23000
35000
27000
25000
13000
7600
1000000
14000
75000
40000
150000

14500

179000
600000
83900
4093500

4093500

Adjustments:
1. Depreciate Building @ 5%, Machinery @ 10%, Furniture @ 15%
2. Provision for Doubtful Debts @ 5% on Debtors
3. Closing Stock 2,50,000
4. Salary paid in advance (Prepaid) Rs. 10,000
5. Outstanding Wages Rs. 3000

A/c for the year ended 31st March 2013 and Balance Sheet as on that date after considering additional information

Particulars
To Opening Stock
To Purchases
To Wages
Add: Outstanding
Carriage Inwards

Arihant Traders
Trading and Profit and Loss A/c for the year ended 31st March 2013
Amount (Rs.) Amount (Rs.)
80000
1620000
110000
3000
113000
15000

To Gross Profit c/d

To Depreciation on Building
To Depreciation on Machinery
To Depreciation on Furniture
To Rent Paid
To R.D.D
To Discount
To Salary
Less: Prepaid
To Travelling Expenses
To Misc. Expenses
To printing and Stationery
To Advertisement Expenses
To Postage and Teligram
To Net Profit transfered to Capital

922000
2750000
50000
7500
6000
14000
7500
7600
100000
-10000

90000
23000
35000
27000
25000
13000
630900
936500

Arihant Traders
t and Loss A/c for the year ended 31st March 2013
Particulars
By Sales

By Closing Stock

Amount (Rs.)

Amount (Rs.)
2500000

250000

2750000
By Gross Profit b/d
By Discount

922000
14500

936500

Liabilities
Capital
Add: Net Profit from P&L
Less: Drawings

Current Liabilities
Sundry Creditors
Outstanding Wages

Arihant Traders
Balance Sheet as on 31st March, 2013
Amount (Rs.) Amount (Rs.)
1400000
630900
-75000
1955900

179000
3000

2137900

Arihant Traders
ance Sheet as on 31st March, 2013
Assets
Fixed Assets
Building
Less: Depreciation @ 5%
Furniture and Fittings
Less: Depreciation @ 15%
Machinery
Less: Depreciation @ 10%
Current Assets
Bank Balance
Sundry Debtors
Less: Reserve for Doubtful Debts @ 5%
Prepaid salary
Investments
Closing Stock

Amount (Rs.)
1000000
50000
40000
6000
75000
7500

Amount (Rs.)

950000
34000
67500

83900
150000
7500

142500
10000
600000
250000
2137900