Sundry Debtors , Building , Machinery , Insurance , Drawings , Motor vehicle , Light and Water , Trade expenses Power , Salary and Wages , Loan a % ( . . ) , , , , Adjustments . Closing stock was valued at the end of the year Rs.
, . . Salary amounting Rs. and trade expense Rs.
are due. . Depreciation charged on building and machinery are @ % and @ % respectively. .
Make a provision of @ % on sundry debtors. ( Ans. : Gross profit Rs. , , ; Net profit Rs.
, , ; Total balance sheet Rs. , , ) . From the following information prepare trading and profit and loss account of M/s Indian sports house for the year ending March , . Drawings , , Sundry debtors , Return outwards Bank overdraft Trade Expenses , Provision for bad debts Printing and Stationery Sundry creditors , Rent Rates and Taxes Bills payable , Feright , , Return inwards , , , , Furniture and Fixture Plant and Machinery , , Bills receivable , , Cash in hand Discount allowed Investments , Motor car , , , , , Adjustments .
Closing stock was Rs. , . . Provision for doubtful debts is to be maintained @ % on debtors.
. Depreciation charged on : furniture and fixture @ %, plant and Machinery @ % and motor car @ %. . A Machine of Rs.
, was purchased on July , . . The manager is entitle to a commission of @ % of the net profit after charging such commission. ( Ans.
: Gross profit Rs. , , ; Net profit Rs. , ; Total balance sheet Rs. , , ; Manager’s commission Rs.
, ) . Prepare the trading and profit and loss account and a balance sheet of M/s Shine Ltd. from the following particulars. Sundry debtors , , Bills payable , Sundry creditors , Trade expenses , Provision for bad debts Printing and Stationary Return outwards , Rent, Rates and Taxes , , , Freight , Discount received , Sales return Interest received , Motor car , , , , Furniture and Fixture , , Drawings , Investments , Cash in hand , Cash