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JAYALAKSHMI INSTITUTE OF TECHNOLOGY

ACCOUNTING FOR MANAGEMENT


UNIT – II
QUESTIONS
1. From the following Trail Balance of Evergreen & Co. Prepare Trading, Profit & Loss a/c and Balance Sheet.
Trail Balance as on 31st December 1995
Particulars Debit Credit
Rs Rs
Cash in Hand 2,400
Purchases 2,40,000
Stock on 1St Jan 1995 70,000
Debtors 1,00,000
Plant & Machinery 1,20,000
Furniture 30,000
Bills Receivable 40,000
Rent & Tax 20,000
Wages 32,000
Salaries 37,600
Bills Payable 44,000
Capital 2,00,000
Creditors 48,000
Sales 4,00,000
Total 6,92,000 6,92,000
Additional Information:
i. Closing Stock as on 31st December 1995 Rs.50,000.
ii. Outstanding Wages Rs.5,000.
iii. Depreciation of Plant & Machinery at 10% and Furniture 5%.

2. In the Books of Durga & Co. Prepare Trading, Profit & Loss a/c and Balance Sheet for the year ended 31 st
December 2002.
Particulars Rs. Particulars Rs.
Stock on Jan 1st 1,000 Return Inwards 1,300
Bills Receivable 4,500 Trade Expenses 200
Discount(Credit) 400 Office Fixtures 1,000
Return Outwards 500 Cash in Hand 500
Purchase 39,000 Cash at Bank 4,750
Wages 2,800 Rent & Taxes 1,100
Insurance 1,100 Carriage Outwards 1,450
Sundry Debtors 30,000 Sales 50,000
Carriage Inwards 800 Bills Payable 3,000
Interest on Capital 700 Creditors 19,650
Stationary 450 Capital 17,900
Adjustments:
i. Closing Stock valued at Rs.25,000.

3. Prepare Trading, Profit & Loss a/c and Balance Sheet for the year ended 31st March 2009.
Trail Balance as on 31st December 1995
Particulars Debit Credit
Rs Rs
Capital 14,00,000
Opening Stock 1,50,000
Machinery 5,70,000
Purchase 7,50,000
Purchase Returns 5,000
Sales 12,90,000
Sundry Creditors 94,000
Cash 79,000
Bank Balance 56,000
Sales Returns 9,000
Wages 67,000
Salaries 70,000
Office Rent 60,000
Insurance 34,000
Sundry Debtors 54,000
Premises 7,90,000
Furniture 1,00,000
Total 27,89,000 27,89,000
Adjustments:
i. Closing Stock valued at Rs.1,70,000.
ii. Baddebts Rs.7,000.
iii. Outstanding Salaries Rs.10,000.
iv. Prepaid Insurance Rs.5,000.
v. Depreciation on Machinery Rs.10,000.
vi. Depreciation on Premises & Furniture @ 5%.

4. Following are the Trail Balance of Kamal Enterprise for the year ended 31st December 1996. You are required to
prepare a Trading, Profit & Loss a/c and Balance Sheet.
Particulars Debit(Rs.) Particulars Credit(Rs.)
Cash in Hand 500 Sales 1,50,300
Office Furniture’s 6,000 Purchase Returns 5,000
Cash at Bank 1,200 Accounts Payable 12,000
Accounts Receivable 15,000 Bills Payable 8,000
Commission 1,200 Discount Received 1,000
Bills Receivable 3,500 Dividend Received 2,000
Power & Fuel 6,000 Rent Received 3,500
Plant & Machinery 29,000 Capital 27,000
Office Expenses 2,000
Carriage Inwards 1,200
Carriage Outwards 3,500
Rent, Rates & Tax 1,700
Leasehold Premises 25,000
Wages 30,000
Salaries 7,000
Opening Inventory 12,000
Sales Returns 2,000
Purchases 60,000
Drawings 7,000
Total 2,08,000 Total 2,08,000
Adjustments:
i. Closing Stock valued at Rs.18,000.
ii. Depreciate Plant & Machinery at 10%.
iii. Outstanding Salaries Rs.1000.
iv. Outstanding Power & Fuel Rs.2,000.
v. Rs.5,000 was spent on erection of Plant & Machinery but wrongly included at Wages.
vi. Provide for Bad and Doubtful debts discount earn but not receive Rs.100.
vii. Commission due not recorded Rs.200.
viii. Rent Received includes advance Rs.500.

5. Following the particulars extract

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