in bank , , , , , Adjustments . Closing stock was valued Rs. , . .
Depreciation charged on furniture and fixture @ %. . Further bad debts Rs. , .
Make a provision for bad debts @ % on sundry debtors. . Depreciation charged on motor car @ %. .
Interest on drawing @ %. . Rent, rates and taxes was outstanding Rs. .
. Discount on debtors %. ( Ans. : Gross loss Rs, , ; Net loss Rs.
, ; Total balance sheet Rs. , , ). . Following balances have been extracted from the trial balance of M/s Keshav Electronics Ltd.
You are required to prepare the trading and profit and loss account and a balance sheet as on March , . , , , , , , Return outwards Drawings , , Buildings , , Bills payable , Motor van , Interest receivced Freight inwards , , , Sales return , Trade expense , Heat and Power , Salary and Wages Legal expense Postage and Telegram , Cash in hand , Cash at bank , Sundry debtors , Investments , Insurance , Machinery , , , , , The following additional information is available : . Stock on March , was Rs. , .
. Depreciation is to be charged on building at % and motor van at %. . Provision for doubtful debts is to be maintained at % on Sundry Debtors.
. Unexpired insurance was Rs. . .
The Manager is entitled to a commissiion @ % on net profit before charging such commission. ( Ans. : Gross profit Rs, , ; Net profit Rs. , ; Total balance sheet Rs.
, , ; Manager’s commission Rs. , ) . From the following balances extracted from the books of Raga Ltd. prepare a trading and profit and loss account for the year ended March , and a balance sheet as on that date.
Drawings , , Land and Buildings , , Plant and Machinery , Discount , Carriage inwards Apprentice premium , Bills payable , , Salary Purchases return , Sales return Bank charges Coal, Gas and Water , purchases , , Trade Expenses , Stock (Opening) , Cash at bank ,