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Sample Accounting Homework Help Illustration and Solutions:

Represent the following data by a suitable graph:

Illustration: 1
From the following particulars prepare trading and profit and loss account of Mr. R. for
the year ended 31.3.1997 and a balance sheet as on 31.3.1997:

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Building

5,00,000

Machineries

2,00,000

Furniture

1,00,000

Cash at Bank

90,000

18% p.a. loan obtained by Mr. R on

10,000

1.6.1996 on mortgage of his building

3,00,000

Rs capital

5,20,000

Sundry debtors/Sundry creditors

5,00,000

4,00,000

Stock on 1.4.1996

1,20,000

Purchases/Sales

25,00,000

32,20,000

Sales return/Purchases returns

1,20,000

1,00,000

Rent

60,000

Establishment expenses

1,80,000

Electricity charges

15,000

Telephone charges

10,000

Commission on sales

30,000

Insurance Premium

10,000

Bad debts

20,000

Bills receivable

75,000
45,40,000

45,40,000

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Solution :
Mr. Jack
Trading and Profit and Loss Account
For the year Ended 31 March, 1997
$
Opening Stock
Purchases

1,20,000

25,00,000

Less : Returns 1, 00,000

Gross Profit c/d

Closing stock (W.N.1)

2,30,000

33,30,000

33,30,000

1,80,000

Telephone charges

15,000

Commission on sales

30,000

Insurance premium

10,000

Bad debts

20,000

Provision for doubtful debts

25,000

Gross Profit b/d

8,10,000

5,00,000

Interest on loan
18

31,00,000

33,30,000

Establishment expenses

100

Less : Returns 1,20,000

8.10,000

60,000

Sales 32,20,000

24,00,000

Rent

100

3,00,00

45,000
10
12

Depreciation (W.N.2)

85,000

Managers Commission

30,000

Net Profit

3,00,000
8,10,000

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8,10,000

Homework1

Illustration 2.
From the following particulars extracted from the books of Ganguli, prepare Trading and
Profit and Loss Account and Balance Sheet as at 31 March, 19994 after making the
necessary adjustments :

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Gangulis Capital Account

54,050

Stock on 1.4.1993

23,400

Sales

1,44,800

Discounts Received

Sale Returns

4,300

Investments (at 5%)

Purchases

1,21,550

as on 1.4.1993

2,500

Purchases Returns

2,900

Furniture as on 1.4.1993

900

Carriage Inwards

9,300

Discounts Allowed

3,770

Rent

2,850

General Expenses

1,960

Salaries

4,650

Audit Fees

350

Sundry Debtors

12,000

Fire Insurance Premium

300

Sundry Creditors

7,400

Travelling Expenses

1,165

Postage and Telegrams

435

Loan from Dena Bank

Internet Received
Cash with Traders Bank Ltd

725
4,000
1,495

Ltd. (at 12%)

10,000

Cash on Hand

Interest Paid

450

Deposits at 10% as on

Printing and Stationery

1,700

1.4.1993 (Dr.)

15,000

Advertisement

5,600

Drawings

5,000

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Solution:
Jack
Trading and Profit and Loss Account
For the year Ended on 31 March 1994
$
Opening Stock
Purchases
1,21,550
Less : Transfer to
Furniture Account
1,000
Less : Returns
2,900

$
23,400

1,17,650

Carriage inwards

1,17,650

Gross Profit c/d

9,300

$
Sales 1,44,800
Less: Returns 5,800
Closing Stock

1,78,300

$
1,39,300
39,300

1,78,300

Salaries

4,650

Gross profit b/d

27,950

Rent

2,850

Interest

1,725

Advertisement

5,600

Discount received

1,495

Printing and Stationery

1,700

Interest

750

General expenses

1,960

Travelling expenses

1,165

Fire Insurance premium

300

Postage and Telegrams

435

Provision for doubtful debts

475

(W.N.1)
Depreciation on Furniture

115

Audit Fees

350

Capital A/c
(Net Profit transferred)

7,050
31,750

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31,750

Homework1
Balance Sheet As on 31 March 1994
Liabilities
$

Assets

Capital Account :

Furniture

Balance on 1.4.1993 54,050

Additions during the year1,000

Add : Net Profit

7,050

1,900

61,100
Less : Drawings

5,000

900

Less : Depreciation

115

56,100

2,500
Investments

Loan from Dena

Bank Ltd

2,500

Deposits
10,000

Interest accrued on

1,785

15,000

Interest accrued on
Investments & Deposits

Bank loan (W.N.2)

300

(W.N.3)

Sundry Creditors

6,400

Stock in trade

1,000

39,300

Sundry Debtors

9,500

Less : Provision

475
9,025

Cash with Traders Bank Ltd.

4,000

Cash in Hand

190

72,800

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72,800

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