Rates and Taxes Bills receivable , Sundry debtors , Cash in hand , , , , , The additional information is as under : . Closing stock was valued at the end of the year Rs, , . . Depreciation on plant and machinery charged at % and land and building at %.
. Discount on debtors at %. . Make a provision at % on debtors for doubtful debts.
. Salary outstanding was Rs. and Wages prepaid was Rs. .
. The manager is entitled a commission of % on net profit after charging such commission. ( Ans. : Gross profit Rs, , ; Net profit Rs.
, ; Total balance sheet Rs. , , ; Manager’s commission Rs. ) . From the following balances of M/s Jyoti Exports, prepare trading and profit and loss account for the year ended March , and balance sheet as on this date.
Debit Credit Sundry debtors , Sundry creditors , , , , Purchases returns , Carriage inwards Bills payable , , , Office rent Insurance , Factory rent Cleaning charges Salary , Building , Plant and Machinery , Cash in hand , Gas and Water Octroi , Patents , , , , , Closing stock Rs. , . . To provision for doubtful debts is to be maintained at per cent on sundry debtors.
. Wages amounting to Rs. and salary amounting to Rs. are outstanding.
. Factory rent prepaid Rs. . .
Depreciation charged on Plant and Machinery @ % and Building @ %. . Outstanding insurance Rs. .
( Ans : Gross profit Rs. , ; Net profit Rs. , ; Total balance Sheet , ) . The following balances have been extracted from the books of M/s Green House for the year ended March , , prepare trading and profit and loss account and balance sheet as on this date.
, , , Bank balance , Bills payable , , , , , , Cash in hand , Return outwards Legal expenses Building , Machinery , Bills receivable , Office expenses , Gas and fuel , Freight and Carriage , Factory lighting Office furniture