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Final Account 2

The document contains multiple accounting tasks requiring the preparation of Trading, Profit and Loss Accounts, and Balance Sheets for different individuals based on their trial balances. Each section includes specific adjustments that need to be accounted for, such as closing stock, depreciation, and outstanding amounts. The tasks are structured for the years ending March 31, 2017, and December 31, 2016.

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Ujjawal Modi
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61 views2 pages

Final Account 2

The document contains multiple accounting tasks requiring the preparation of Trading, Profit and Loss Accounts, and Balance Sheets for different individuals based on their trial balances. Each section includes specific adjustments that need to be accounted for, such as closing stock, depreciation, and outstanding amounts. The tasks are structured for the years ending March 31, 2017, and December 31, 2016.

Uploaded by

Ujjawal Modi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Q1 From the following Trial balance of Mr.

Amit , prepare, Trading, Profit and Loss Account for the year
ending 31st March 2017 and the balance sheet as on that date :
Dr. Balances Amount Cr. Balances Amount
Opening stock 8,000 Sales 37,000
Purchases 20,000 Returns Outward 1,455
Returns Inward 1,350 Capital 30,000
Wages 1,000 Sundry Creditors 19,000
Carriage 500 Commission 1,000
Salaries 1,700
Printing 800
Rent 3,000
Drawings 2,000
Machinery 30,105
Cash 8,000
Debtor 12,000
88,455 88,455

Adjustments
1. Commission due but not received Rs. 1,000.
2. Rent due but not paid Rs. 200.
3. Depreciation on Machinery Rs 2,000.
4. Closing stock Rs. 18,000 .
5. Salary paid in advance Rs 700
Q-2. Prepare Trading Account, Profit and Loss Account for the year ending 31.12.2016 and the Balance sheet on that date from the
Trial Balance of Suraj given below :
Dr. Balance Amount Cr. Balances Amount
Rent 1,000 Capital 46,000
Plant and Machinery 40,000 Creditors 30,000
Furniture 34,000 Sales 19,000
Debtors 10,000 Bills payable 9,250
Cash in hand 2,600 Interest Received 1,000
Purchases 8,000
Wages 1,000
Salaries 1,000
Repairs 950
Stock (opening) 2,400
Coal, gas and water 600
Bad debt 200
Carriage 300
Octroi 200
Drawing 3,000
1,05,250
1,05,250
Adjustment:
1. Rent paid in advances Rs.100.
2. Interest due but not received Rs.100.
3. Depreciate plant and machinery @ 10% and furniture @ 15% p.a .
4. Closing stock Rs.4,100.
5. Out standing Octroi Rs.100.

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Q-3 From the trial balance given below, prepare Trading and Profit and Loss account for the year ending 31.03.2017 and Balance
sheet as on that date:
Adjustments:
1. Closing stock was valued at Rs. 2,000,
2. Depreciate machinery by 10% p.a .
3. Wages due Rs 200,
4. Rent paid in adavance Rs. 50,
5. Interest received in advancev Rs 50,
6. Comission due but not received Rs 100.

Dr. Balances Amount Cr. Balances Amount

Opening stock 2,000 Capital 10,000


Machinery 4,000 Creditors 1,000
Debtors 2,400 Bills payable 700
Drawings 1,000 Returns outward 500
Purchases 11,500 Sales 17,000
Returns inward 300 Comission 300
Wages 4,800 Interest 100
Manufacturing expenses 1,000
Bank 1,000
Rent 450
Carriage 250
Bad debt 900
29,600 29,600

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