Prepare the trading and profit and loss account and a balance sheet of M/s Shine Ltd. from the following particulars.

$\begin{array}{cccc}\text{Account Title}& \text{Amt.(Rs)}& \text{Account title}& \text{Amt.(Rs)}\\ \text{Sundry Debtors}& 1,00,000& \text{Bills Payable}& 85,550\\ \text{Bad Debts}& 3,000& \text{Sundry Creditors}& 25,000\\ \text{Trade Expenses}& 2,500& \text{Provision for Bad Debts}& 1,500\\ \text{Printing and Stationery}& 5,000& \text{Return Outwards}& 4,500\\ \text{Rent, Rates and Taxes}& 3,450& \text{Capital}& 2,50,000\\ \text{Freight}& 2,250& \text{Discount Received}& 3,500\\ \text{Sales Return}& 6,000& \text{Interest Received}& 11,260\\ \text{Motor Car}& 25,000& \text{Sales}& 1,00,000\\ \text{Opening Stock}& 75,550& & \\ \text{Furniture and Fixture}& 15,500& & \\ \text{Purchase}& 75,000& & \\ \text{Drawings}& 13,560& & \\ \text{Investments}& 65,500& & \\ \text{Cash in Hand}& 36,000& & \\ \text{Cash at Bank}& 53,000& & \\ & \overline{\underset{–}{\underset{–}{4,81,310}}}& & \overline{\underset{–}{\underset{–}{4,81,310}}}\end{array}$

Adjustments

1. Closing stock was valued Rs. 35,000.

2. Depreciation charged on furniture and fixture @ 5%.

3. Further bad debts Rs. 1,000. Make a provision for bad debts @ 5% on sundry debtors.

4. Depreciation charged on motor car @ 10%.

5. Interest on drawings @ 6%.

6. Rent, rates and taxes was outstanding Rs. 200.

7. Discount on debtors 2%.

Q. Prepare the trading and profit and loss account and balance sheet of M/s Shine Ltd from the following particulars.

Account Title	Amt.(Rs)	Account Title	Amt. (Rs)
Sundry Debtors	1,00,000	Bills Payable	85,550
Bad Debts	3,000	Sundry Creditors	25,000
Trade Expenses	2,500	Provisions for Bad Debts	1,500
Printing and Stationery	5,000	Return Outwards	4,500
Rent, Rates and Taxes	3,450	Capital	2,50,000
Freight	2,250	Discount Received	3,500
Sales Return	6,000	Interest Received	11,260
Motor Car	25,000	Sales	1,00,000
Opening Stock	75,550
Furniture and Fixture	15,500
Purchase	75,000
Drawings	13,560
Investments	65,500
Cash in Hand	36,000
Cash at Bank	53,000
	4,81,310		4,81,310

Adjustments
1. Closing stock was valued Rs.35,000.
2. Depredation charged on furniture and fixture @ 5%.
3. Further bad debts Rs.1,000. Make a provision for bad debts @ 5% on sundry debtors.
4. Depreciation charged on motor car @ 10%.
5. Interest on drawings @ 6%.
6. Rent, rates and taxes was outstanding Rs. 200.
7. Discount on debtors 2%.

Q. The following balances has been extracted from the trial of M/s Runway Shine Ltd. Prepare a trading and profit and loss account and a balance sheet as on December 31, 2010.

Account Title	Amt. (Rs.)	Account Title	Amt. (Rs.)
Purchase	1,50,000	Sales	2,50,000
Opening Stock	50,000	Return Outwards	4,500
Return Inwards	2,000	Interest Received	3,500
Carriage Inwards	4,500	Discount Received	400
Cash in Hand	77,800	Creditors	1,25,000
Cash in Bank	60,800	Bills Payable	6,040
Wages	2,400	Capital	1,00,000
Printing and Stationery	4,500
Discount	400
Bad Debts	1,500
Insurance	2,500
Investment	32,000
Debtors	53,000
Bills Receivable	20,000
Postage and Telegraph	400
Commission	200
Interest	1,000
Repair	440
Lighting Charges	500
Telephone Charges	100
Carriage Outward	400
Motor Car	25,000
	4,89,440		4,89,440

Adjustments
1. Further bad debts Rs. 1,000. Discount on debtors Rs. 500 and make a provision on debtors @ 5%.
2. Interest received on investment @ 5%.
3. Wages and interest outstanding Rs. 100 and Rs. 200 respectively.
4. Depreciation charged on motor car @ 5% pa. 5. Closing stock Rs. 32,500.

Q.

From the following balances extracted from the books of Raga Ltd. prepare a trading and profit and loss account for the year ended December 31, 2011 and a balance sheet as on that date.

$\begin{array}{cccc}\text{Account Title}& \text{Amt. (Rs.)}& \text{Account Title}& \text{Amt. (Rs.)}\\ \text{Drawings}& 20,000& \text{Sales}& 2,20,000\\ \text{Land and Buildings}& 12,000& \text{Capital}& 1,01,110\\ \text{Plant and Machinery}& 40,000& \text{Discount}& 1,260\\ \text{Carriage Inwards}& 100& \text{Apprentice Premium}& 5,230\\ \text{Wages}& 500& \text{Bills Payable}& 1,28,870\\ \text{Salary}& 2,000& \text{Purchase Return}& 10,000\\ \text{Sales Return}& 200& & \\ \text{Bank Charges}& 200& & \\ \text{Coal, Gas and Water}& 1,200& & \\ \text{Purchase}& 1,50,000& & \\ \text{Trade Expenses}& 3,800& & \\ \text{Stock (Opening)}& 76,800& & \\ \text{Cash at Bank}& 50,000& & \\ \text{Rates and Taxes}& 870& & \\ \text{Bills Receivable}& 24,500& & \\ \text{Sundry Debtors}& 54,300& & \\ \text{Cash in Hand}& 30,000& & \\ & \overline{\underset{–}{\underset{–}{4,66,470}}}& & \overline{\underset{–}{\underset{–}{4,66,470}}}\end{array}$

The additional information is as under:

1. Closing stock was valued at the end of the year Rs. 20,000.

2. Depreciation on plant and machinery charged @ 5% and land and building @ 10%.

3. Discount on debtors @ 3%.

4. Make a provision @ 5% on debtors for bad debts.

5. Salary outstanding was Rs. 100 and wages prepaid was Rs. 40.

6. The manager is entitled a commission of 5% on net profit after charging such commission.

Q.

From the following trial balance, prepare trading account, profit and loss account for the year ended 31st December, 2016.

$\begin{array}{cccc}\text{Particulars}& \text{Amt. (Rs.)}& \text{Particulars}& \text{Amt. (Rs.)}\\ \text{Opening Stock}& 10,000& \text{Sales}& 5,20,000\\ \text{Purchases}& 3,00,000& \text{Purchases Returns}& 10,000\\ \text{Debtors}& 1,40,000& \text{Creditors}& 1,00,000\\ \text{Drawings}& 20,000& \text{Provision for Bad Debts}& 4,000\\ \text{Sales Returns}& 16,000& \text{Bills Payable}& 30,000\\ \text{Wages}& 24,000& \text{Bank Overdraft}& 20,000\\ \text{Salaries}& 40,000& \text{Capital}& 7,20,000\\ \text{Repairs}& 12,000& & \\ \text{Bad Debts}& 8,000& & \\ \text{Carriage}& 4,000& & \\ \text{Discount}& 6,000& & \\ \text{Land and Building}& 4,00,000& & \\ \text{Plant and Machinery}& 3,00,000& & \\ \text{Furniture and Fixtures}& 80,000& & \\ \text{Cash}& 4,000& & \\ \text{Goodwill}& 40,000& & \\ & \overline{\underset{–}{14,04,000}}& & \overline{\underset{–}{14,04,000}}\end{array}$

Adjustments:

(i) Closing stock Rs. 40,000

(ii) Further bad debts Rs. 6,000.

(iii) Create a provision for doubtful debts @ 5%.

(iv) Create a provision for discount on debtors and creditors @ 2%.

(v) Change depreciation on plant and machinery and furniture and fixtures @ 10% per annum.