Patent right , , , , , adjustments : (a) Machinery is depreciated at % and buildings depreciated at %. (b) Interest on capital @ %. (c) Outstanding wages Rs. .
(d) Closing stock Rs. , . ( Ans : Gross profit Rs. , ; Net Profit Rs.
, ; Total balance sheet Rs. , , ). . From the following balances extracted from the book of M/s Manju Chawla on March , .
You are requested to prepare the trading and profit and loss account and a balance sheet as on this date. , Purchases and Sales , , Returns Dock and cleaning charges Lighting Misc. Income Rent , Drawings Debtors and Creditors , Cash Investment Patent Land and Machinery , Donations and Charity Sales tax collected , , , , , Closing stock was Rs. , .
(a) Interest on drawings @ % and interest on capital @ %. (b) Land and Machinery is depreciated at %. (c) Interest on investment @ %. (d) Unexpired rent Rs.
. (e) Charge % depreciation on furniture. ( Ans. : Gross profit Rs.
, ; Net profit Rs. , ; Total balance sheet Rs. , ). .
The following balances were extracted from the books of M/s Panchsheel Garments on March , . Debit Credit , , , , Return outwards , Return Inwards , Discount , Carriage inwards , Bank overdraft , General expenses , Commission , Insurance , Scooter expenses , Salary , Cash in hand Scooter , , Buildings , , , , , , Prepare the trading and profit and loss account for the year ended March , and a balance sheet as on that date. (a) Unexpired insurance Rs , . (b) Salary due but not paid Rs.
. (c) Wages outstanding Rs. . (d) Interest on capital %.
(e) Scooter is depreciated @ %. (f) Furniture is depreciated Rs.@ %. ( Ans. : Gross profit Rs.
, ; Net profit Rs. , ; Total balance sheet Rs. , }. .
Prepare the trading and profit and loss account and balance sheet of M/s Control Device India on March , from the following balance as on that date. Debit Credit Drawings and Capital