and Marshalling of assets and liabilities. Explain the ways in which a balance sheet may be marshalled. Numerical Questions . From the following balances taken from the books of Simmi and Vimmi Ltd.
for the year ending March , , calculate the gross profit. (Rs.) Closing stock , , Net sales during the year , , Net purchases during the year , , , , Direct expenses , ( Ans. Gross profit Rs. , , ) .
From the following balances extracted from the books of M/s Ahuja and Nanda. Calculate the amount of : (a) Cost of goods available for sale (b) Cost of goods sold during the year (c) Gross Profit , Credit purchases , , Cash purchases , , Credit sales , , Cash sales , , , , , , Closing stock , Sales return , Purchases return , ( Ans. (a) Rs. , , ; (b) Rs.
, , ; (c) Rs. , , . Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March , . , Net sales , , Net purchases , , Direct expenses , Administration expenses , Selling and distribution expenses , Loss due to fire , Closing stock , ( Ans .
Gross profit Rs. , , , Operating profit Rs. , , ) . Operating profit earned by M/s Arora & Sachdeva in - was Rs.
, , . Its non-operating incomes were Rs. , , and non-operating expenses were Rs. , , .
Calculate the amount of net profit earned by the firm. ( Ans . Net profit Rs. , , ) .
The following are the extracts from the trial balance of M/s Bhola & Sons as on March , Account title Debit Credit , , , , , , , , , , (only relevant items ) Closing Stock as on date was valued at Rs. , , . You are required to record the necessary journal entries and show how the above items will appear in the trading and profit and loss account and balance sheet of M/s Bhola & Sons. .
Prepare trading and profit and loss account and balance sheet as on March , : Machinery , , Sundry debtors , Bills payable