1.

From the following information of Anup and Sons, prepare the Trading & Profit loss Account and Balance Sheet as on 31st December 2009 Debit Balance Amount Credit Balance Amount Machinery 5000 Capital 10000 Cash at bank 1500 Sales 17000 Cash in hand 500 Sundry Creditor 5000 Wages 1000 Interest Received 300 Purchases 9000 Stock on 1st January 2009 6000 Sundry Debtor 4400 Bills Receivable 2900 Rent 450 Commission 250 General Expenses 800 Salaries 500 Total 32,300 Total 32,300 Additional Information: a) Provide interest on Capital @ 5% per annum. b) Depreciate machinery at 10% per annum c) Rs. 600/- is outstanding towards wages d) Rs. 800/- paid towards rent in advance e) Stock as on 31st December 2009 is Rs. 9000/The following is the trial balance of Anoop Trading Co. Prepare the Trading & Profit Loss Account for the year ending 31st December 2011and Balance Sheet as on 31st December 2011. (40 Marks) Trial Balance Debit Balance Amount Credit Balance Amount Rs Rs Machinery 700000 Capital 1500000 Cash at bank 600000 Sales 2000000 Cash in hand 5000 Purchase return 25000 Wages 100000 Sundry Creditor 450000 Purchases 900000 Reserve for bad and doubtful debts 5000 Sales return 10000 Interest Received 40000 Stock on 1st January 2011 200000 Sundry Debtor 700000 Bills Receivable 390000 Bad debts 3000 Rent 87000 Commission 25000 General Expenses 50000 Salaries 250000 Total 4020,000 Total 4020,000 Additional Information: a. Provide interest on Capital @ 5% per annum. b. Depreciate machinery at 10% per annum c. Rs. 5000/- is outstanding towards wages

2.

d. e. f.

g.

Rs. 7000/- paid towards rent in advance Provide for Rs.4000/- as bad debts on sundry debtors Provide 2% for bad and doubtful debts on Sundry Debtors Stock as on 31st December 2011 is Rs. 80000/-