The following balances have been extracted from the trial of M/s Haryana Chemical Ltd. You are required to prepare a trading and profit and loss account and balance sheet as on December 31, 2010 from the given information

$\begin{array}{cccc}\text{Account Title}& \text{Amt. (Rs.)}& \text{Account Title}& \text{Amt.(Rs)}\\ \text{Opening Stock}& 50,000& \text{Sales}& 3,50,000\\ \text{Purchase}& 1,25,500& \text{Purchase Return}& 2,500\\ \text{Sales Return}& 2,000& \text{Creditors}& 25,000\\ \text{Cash in Hand}& 21,200& \text{Rent}& 5,000\\ \text{Cash at Bank}& 12,000& \text{Interest}& 2,000\\ \text{Carriage}& 100& \text{Bills Payable}& 1,71,700\\ \text{Freehold Land}& 3,20,000& \text{Capital}& 3,00,000\\ \text{Patents}& 1,20,000& & \\ \text{General Expenses}& 2,000& & \\ \text{Sundry Debtors}& 32,500& & \\ \text{Building}& 86,000& & \\ \text{Machinery}& 34,500& & \\ \text{Insurance}& 12,400& & \\ \text{Drawings}& 10,000& & \\ \text{Motor Vehicle}& 10,500& & \\ \text{Bad Debts}& 2,000& & \\ \text{Light and Water}& 1,200& & \\ \text{Trade Expenses}& 2,000& & \\ \text{Power}& 3,900& & \\ \text{Salary and Wages}& 5,400& & \\ \text{Loan 15}\%\left(\mathrm{1.9.2010}\right)& 3,000& & \\ & \overline{\underset{–}{\underset{–}{8,56,200}}}& & \overline{\underset{–}{\underset{–}{8,56,200}}}\end{array}$

Adjustments

1. Closing stock was valued at the end of the year Rs. 40,000.

2. Salary amounting Rs. 500 and trade expenses Rs. 300 are due.

3. Depreciation charged on building and machinery are @ 4% and @ 5% respectively.

4. Make a provision of @ 5% on sundry debtors.

Q. The following balances have been extracted from the trial of M/s Haryana Chemical Ltd. You are required to prepare a trading and profit and loss account and balance sheet as on December 31, 2010 from the given information

Account Title	Amt. (Rs)	Account Title	Amt. (Rs)
Opening Stock	50,000	Sales	3,50,000
Purchase	1,25,500	Purchase Return	2,500
Sales Return	2,000	Creditors	25,000
Cash in Hand	21,200	Rent	5,000
Cash at Bank	12,000	Interest	2,000
Carriage	100	Bills Payable	1,72,700
Freehold Land	3,20,000	Capital	3,00,000
Patents	1,20,000
General Expenses	2,000
Sundry Debtors	32,500
Building	86,000
Machinery	34,500
Insurance	12,400
Drawings	10,000
Motor Vehicle	10,500
Bad Debts	2,000
Light and Water	1,200
Trade Expenses	2,000
Power	3,900
Salary and wages	5,400
Loan 15% (1.9.2010)	3,000
	8,56,200		8,56,200

Adjustments
1. Closing stock was valued at the end of the year Rs. 40,000.
2. Salary amounting Rs. 500 and trade expenses Rs. 300 a redue.
3. Depreciation charged on building and machinery are @ 4% and @ 5% respectively.
4. Make a provision of @ 5% on sundry debtors.

Q.

Q.

The following balances were extracted from the books of M/s Panchsheel Garments on December 31, 2010.

$\begin{array}{cccc}\text{Account Title}& \text{Amt. (Rs.)}& \text{Account Title}& \text{Amt. (Rs.)}\\ \text{Opening Stock}& 16,000& \text{Sales}& 1,12,000\\ \text{Purchase}& 67,600& \text{Return Outwards}& 3,200\\ \text{Return Inwards}& 4,600& \text{Discount}& 1,400\\ \text{Carriage Inwards}& 1,400& \text{Bank Overdraft}& 10,000\\ \text{General Expenses}& 2,400& \text{Commission}& 1,800\\ \text{Insurance}& 4,000& \text{Creditors}& 16,000\\ \text{Scooter Expenses}& 200& \text{Capital}& 50,000\\ \text{Salary}& 8,800& & \\ \text{Cash in Hand}& 4,000& & \\ \text{Scooter}& 8,000& & \\ \text{Furniture}& 5,200& & \\ \text{Buildings}& 65,000& & \\ \text{Debtors}& 6,000& & \\ \text{Wages}& 1,200& & \\ & \overline{\underset{–}{1,94,400}}& & \overline{\underset{–}{1,94,400}}\end{array}$

Prepare the trading and profit and loss account for the year ended December 31, 2010 and a balance sheet as on that date

(a) Unexpired insurance Rs. 1,000

(b) Salary due but not paid Rs. 1,800.

(c) Wages outstanding Rs. 200.

(d) Interest on capital @ 5$\%$.

(e) Scooter is depreciated @ 5$\%$.

(f) Furniture is depreciated @ 10$\%$

(g) Closing stock is Rs. 15,000

Q.

Prepare a Trading and Profit and loss account for year ending December 31, 2010 from the balances extracted to M/s Rahul Sons. Also prepare a balance sheet at the end of the year.

$\begin{array}{cccc}\text{Account Title}& \text{Amt. (Rs.)}& \text{Account Title}& \text{Amt.(Rs)}\\ \text{Opening Stock}& 50,000& \text{Sales}& 1,80,000\\ \text{Wages}& 3,000& \text{Purchase Return}& 2,000\\ \text{Salary}& 8,000& \text{Discount Received}& 500\\ \text{Purchase}& 1,75,000& \text{Provision for Bad Debts}& 2,500\\ \text{Sales Return}& 3,000& \text{Capital}& 3,00,000\\ \text{Sundry Debtors}& 82,000& \text{Bills Payable}& 22,000\\ \text{Discount Allowed}& 1,000& \text{Commission Received}& 4,000\\ \text{Insurance}& 3,200& \text{Rent}& 6,000\\ \text{Rent, Rates and Taxes}& 4,300& \text{Loan}& 34,800\\ \text{Fixtures and Fittings}& 20,000& & \\ \text{Trade Expenses}& 1,500& & \\ \text{Bad Debts}& 2,000& & \\ \text{Drawings}& 32,000& & \\ \text{Repair and Renewals}& 1,600& & \\ \text{Travelling Expenses}& 4,200& & \\ \text{Postage}& 300& & \\ \text{Telegram Expenses}& 200& & \\ \text{Legal Fees}& 500& & \\ \text{Bills Receivable}& 50,000& & \\ \text{Building}& 1,10,000& & \\ & \underset{–}{\underset{–}{\overline{5,51,800}}}& & \underset{–}{\underset{–}{\overline{5,51,800}}}\\ & & & \end{array}$

Adjustments:

1. Commission received in advance Rs. 1,000.

2. Rent received Rs. 2,000.

3. Salary outstanding Rs. 1,000 and insurance prepaid Rs. 800.

4. Further bad debts Rs. 1,000 and provision for bad debts @5% on debtors and discount on debtors @ 2%.

5. Closing stock Rs. 32,000.

6. Depreciation on building @ 6% pa.

Q.

From the following Trial Balance of M/s Andrew Traders, you are required to prepare Trading and Profit Loss Account for the year ending 31st March, 2010 and Balance Sheet as on that date.

Trial Balance as on 31st March, 2010
Particulars	Debit Amount Rs	Credit Amount Rs
Capital		35,000
Drawings	8,000
Purchases and Sales	29,000	56,000
Opening Stock	10,000
Carriage	1,000
Salaries	3,500
Rent	1,200
Rates and Taxes	200
Sundry expenses	3,000
Sales Return	1,500
Bad debts	800
Interest received		200
R.D.D.		1,500
Discount received		300
Debtors and Creditors	21,400	7,000
Furniture	3,000
Machinery	5,000
Cash in hand	200
Cash at Bank	5,000
Wages	7,200
Total	1,00,000	1,00,000