Problem 1.
Following is the trial balance as on 30th June 2017 Prepare Trading and Profit& Loss A/C –
pg161
Particulars Amount Particulars Amount
Stock 2400 Purchase 15205
Sales 20860 Closing stock 3840
Return outwards 185 Return Inwards 860
Carriage inwards 524 Manufacturing wages 2800
Manufacturing wages (o/S) 96 Loss due to fire 1000
Indirect expenses 200
Problem 2. From the following ledger balances, prepare income statement and balance sheet:
Particulars Amount Particulars Amount
Amount Mr. X’s capital 5,00,000 Carriage outward 20,000
Drawing 20,000 Bad debts 5,000
Purchase 2,00,000 Sundry Drs. 1,00,000
Loan 1,00,000 B/R 20,000
Machinery 50,000 Sundry Crs. 50,000
Return to suppliers 50,000 Carriage inward 10,000
Sales 4,00,000 Salary and wages 5,000
Return inward 6,00,000 Depreciation 20,000
Cash in hand 1,00,000 Sale of scrap 5,000
Prepaid tax 10,000 Closing stock 50,000
Outstanding wages 5,000
Gross profit 1,80,000, Net profit 1,35,000
Problem 3. Prepare final accounts from the trial balance given below:
Particulars Amount Particulars Amount
Cash in hand 30 Opening stock 3000
Purchases 8990 Printing 225
Cash at bank 885 Rents and taxes insurance 190
Fixtures and fitting 225 Discount allowed 200
Freehold premises 1500 Capital 7610
Lighting and heating 65 Sales 11060
B/R 825 Creditors 1950
Returns inward 30 B/P 1875
Salaries 1075 Discount received 445
Debtors 5700
Gross profit 3040, Net profit 1708,
Additional Information l Closing stock at the end of year amount Rs. 5000. l Outstanding wages was Rs.
1000. l Dep. charges at the rate of 10% on furniture and fixture.
Problem 4. Following is the trial balance as on 30th June 2017 Prepare Trading and Profit& Loss A/C and
Balance Sheet.
Particulars Amount Particulars Amount
Land and building 20000 Wages 15000
Machinery 50000 Rent 3000
Furniture and fixtures 4000 Postage and stationary 1500
Opening stock 16300 General expenses 3200
Purchases 80000 Repairs to Machinery 2000
Salaries 6000 Loan to Kumar @ 9% 5000
Carriage on sales 1500 Prepaid insurance 200
Freight on purchases 2000 Sundry debtors 20000
Custom duty on purchases 8000 Cash in hand 250
Advertising 5400 Cash at bank 3100
Capital 80000 Sundry creditors 8000
Discount received 400 Sales 150500
Outstanding expenses 1550 Repairs and rewards (provision)
Gross profit 44100 , Net profit 13600 , B/S 110650
Adjustments
The additional information is as follows: 1. Closing stock was worth Rs. 14900. 2. Dep. is to be written of
@ 3% on land and building, 10% on machinery and 5% on furniture and fixture. 3. Provision for repairs
and renewals are credited with Rs. 1500 every year. 4. Provision for bad debts is 5% on Sundry debtors.
Problem 5 : From the following information prepare the 2017 Prepare Trading and Profit& Loss A/C and
Balance Sheet.pg-167
Particulars Amount Particulars Amount
Capital 16800 Furniture 900
Drawings 5000 Bills Payable 4200
Bills receivables 2300 Stock 21000
Purchase 36000 Wages 1200
Sales 72000 Advertisement 600
Purchase return 2000 Discount (Dr) 100
Sales return 3000 Commission Received 600
Debtors 4500 Machinery 20000
Creditors 2500 Cash 3500
Problem 6 : From the following information prepare the 2017 Prepare Trading and Profit& Loss A/C and
Balance Sheet. Pg-237
Particulars Amount Particulars Amount
Cash in hand 540 Cash at bank 2630
Purchases 40675 Return inwards 680
Wages 8480 Fuel 4730
Carriage on purchase 2040 Carriage on sales 3200
Stock 5760 Building 32000
Land 10000 Machinery 20000
Patents 7500 Salaries 15000
General expenses 3000 Insurance 600
Drawings 5245 Sundry debtors 14500
Sales 98780 Return outwards 500
Capital 62000 Sundry Crs 6300
Rent 9000
Adjustments
Stock at end 6800, Depreciation on Machinery @10 % and Patents @ 20% , outstanding Salaries 1500
Prepaid Insurance 170, Bad debts 725.
Problem 7 : From the following information prepare the 2017 Prepare Trading and Profit& Loss A/C and
Balance Sheet.pg-234
Particulars Amount Particulars Amount
Capital 30000 Furniture 2600
Ban o/d 4200 Premises 20000
Creditors 13800 Discount (Dr) 1600
Stock 22000 Tax and Insurance 2000
Rent (Cr ) 1000 Carriage 1800
Sales 150000 Debtors 18000
Commission Paid 2200 Purchase 110000
Salaries 9000 Sales Returns 2000
Bad debts 800 Discount (cr) 2000
Drawings 5000 General Expenses 4000
Additional Information
Stock 31-12-1991 20000 , Interest on capital @5% ,Depreciation on premises Rs 300 and Furniture 260
,Reserve 5%on Debtors for doubtful debts ,Unexpired Insurance 200.
