Académique Documents
Professionnel Documents
Culture Documents
12000
240000
340000
8000
1S600
36000
20000
1200
S00
128000
4800
1S00
4S000
14300
622S0
13S0
200000
6S0000
6000
13000
47S00
3600
400
10000
ADIUS1,LN1S
1 Stock at the end ks S1700
2 Deprec|ate f|xed assets y 10
3 Comm|ss|on earned ut not rece|ved amounted to ks 1S0
4 kent rece|ved |n advance ks 1000
S Interest on ank |oan Q 18 pa |n unpa|d for the |ast 3 months
6 A||ow 8 pa Interest on cap|ta| and charge ks 600 as |nterest on draw|ngs
10 8ad dets
%|) 8ad dets w||| e shown on the de|t s|de of $L
%||) It w||| e deducted from sundry detors on asset s|de of 8$S
%|||) If g|ven |n 1$8 |t w||| e shown on|y on the de|t s|de of $L
11 rov|s|on for ad and doutfu| dets
%|) Shown on the de|t s|de of $L as a separate |tem
%||) Shown on the assets s|de y way of deduct|on from the amount of
sundry detors %net of add|t|ona| ad dets)
8oth o|d and new prov|s|on for ad dets are g|ven |n the quest|on
8ad dets + new prov Ior ad dets o|d prov|s|on for ad dets
%1$8) %Ad[ust) %1$8)
8oth ad dets and prov|s|on for 8$D are g|ven |n ad[ustment
8ad dets + 8ad Dets + new prov for ad dets o|d prov|s|on for ad
dets
%1$8) %Ad[ust) %Ad[ust) %1$8)
; lollowlng are exLracLs of Lrlal balance of a flrm as aL 1 March 2002
ur Cr
Sundry debLor 203000
rovlslon for doubLful debLs 10000
8ad debLs 3000
AddlLlonal lnformaLlon
(l) AddlLlonal bad debLs 8s 3000
(ll) MalnLaln Lhe provlslon for doubLful debLs [10 on debLors
8s 8s
urawlngs
8ulldlng
Cpenlng sLock
Machlnery
lurnlLure
Carrlage lnwards
urchases
Ceneral expenses
8enL and Laxes
AdverLlsemenL
uebLors
Salarles
Sales reLurn
Cash
8ad debLs
lnsurance
Wages
uepreclaLlon
2300
12000
7834
4338
1140
932
33437
1766
770
3716
17860
10862
683
100
100
326
9973
342
108901
CaplLal
8ad debLs provlslon
CredlLors
6 loan
Sales
8ank overdrafL
30000
300
11133
3000
61723
343
108901
Ad[usLmenLs
1 8rlng provlslon for bad and doubLful debLs on debLors aL 3
2 Cne year's lnLeresL ls ouLsLandlng on loan
3 lnsurance prepald 8s 100
4 Closlng sLock ls 8s 8931
(Ans C/ 17773 n/L 900 8/S 43376)
8s 8s
Cpen|ng stock
urchases
Sa|es
Sa|es returns
Wages
Carr|age
8ad dets
8ad dets prov|s|on
Sundry detors
Sundry cred|tors
Cff|ce furn|ture
|ant and mach|nery
Lsta||shment charges
40000
180000
320000
SS00
22000
1200
600
1000
S0300
1S800
S300
78000
S100
Advert|sement
Goodw|||
Duty and c|ear|ng
charges
Comm|ss|on %Cr)
Cap|ta|
ersona| expenses
Investments
Cash
kent and |nsurance
SS00
10000
4200
800
120000
1S000
16100
16000
2800
1 kent outstand|ng ks S00 and |nsurance unexp|red %prepa|d) amounted to ks 300
2 Comm|ss|on amount|ng to ks 120 has een rece|ved |n advance
3 Wr|te off ks 300 as ad dets and prov|s|on for doutfu| dets at 2S on sundry
detors
4 Deprec|ate p|ant and mach|nery y S
S Stock on 31
st
,arch 2000 was ks 32000
12 rov|s|on for d|scount on detors
1 rov|s|on for d|scount on detors |s shown on the de|t s|de of prof|t
and |oss account
2 Amount of prov|s|on |s deducted from sundry detors on the assets s|de
of a|ance sheet
13 rov|s|on for d|scount on cred|tors
1 It |s shown on the cred|t s|de of prof|t and |oss account
2 Amount |s deducted from sundry cred|tors on the ||a|||t|es s|de of 8$S
Name of accounts Dr a|ances Cr 8a|ances
Cash |n hand
Cash at ank
urchases and sa|es
keturn |nwards
keturn outwards
Carr|age on purchases
Carr|age on sa|es
Iue| and power
Stock on 111999
8u||d|ng
,ach|nery
Detors and cred|tors
Investment
Interest on |nvestment
Loan from ,r A[ay Q20 taken on 1 ,ay 1999
kepa|rs
Genera| expenses
rov Ior ad dets
Wages and sa|ar|es
3800
8109
1S8000
2S00
1000
300
3900
28210
82000
12S000
72000
S0000
1481
20400
19720
32S000
1800
22000
4000
20000
2100
; repare 1rad|ng and rof|t and Loss A$c and a|ance sheet as on
31
st
Decemer 1999
,|sc rece|pts
Sa|es tax co||ected
Sa|es tax pa|d
Cap|ta|
L|fe |nsurance prem|um
Draw|ngs
3S00
2000
7000
S88920
20
S000
209000
S88920
Informat|on
1 8ad dets ks 1000
2 rov|s|on for doutfu| dets |s to e ma|nta|ned at S on sundry detors
3 rov|s|on 2 for d|scount on detors and cred|tors
4 Inc|ud|ng |n genera| expenses |nsurance prem|um ks 1000 pa|d for the one year
end|ng 31
st
,arch 2000
S C|os|ng stock was va|ued at ks 30000
6 rov|de 10 deprec|at|on on mach|nery
14 Comm|ss|on on net prof|t paya|e to manager
(l) Commlsslon ls shown on Lhe deblL slde of proflL and loss accounL
(ll) Commlsslon would be shown as a llablllLy on Lhe llablllLles slde of 8/S
MeLhod Lo calculaLe commlsslon
%a) Cn net prof|t efore charg|ng such comm|ss|on
Manager's commlsslon neL roflL before charglng commlsslon x 8aLe
100
(b) Cn net prof|t after charg|ng such comm|ss|on
Manager's commlsslon neL roflL before charglng commlsslon x 8aLe
100 + 8aLe
13 Deferred kevenue expend|ture 1he amounL Lo be wrlLLen off wlll be
deblLed Lo proflL and loss accounL ln respecL of every year Lhe
remalnlng balance wlll be LreaLed as an asseLs and shown on Lhe asseLs
slde of Lhe balance sheeL
16 Cap|ta| expend|ture treated as revenue expend|ture SomeLlmes caplLal
expendlLure ln wrongly LreaLed as revenue expendlLure Any expendlLure
on an asseL Llll lL ls puL Lo use ls Lo be added Lo relaLed asseL accounL lL
should noL be shown ln Lradlng and proflL and loss accounL lor example
a Wages lncluded 8s 2000 spenL on lnsLallaLlon of a new machlnery 1o
recLlfy Lhls error 8s 2000 wlll be deducLed from wages and added Lo
machlnery
b 8s 3000 spenL for Lhe erecLlon of a cycle shed were deblLed Lo repalrs
lor Lhe correcLlon of Lhls error 8s 3000 wlll be deducLed ouL of repalrs
and added Lo bulldlng
c Coods purchased for Lhe consLrucLlon of bulldlng were lncluded ln
purchases accounL lor recLlflcaLlon of Lhls error balance ln bulldlng
accounL wlll be lncreased whereas balance ln purchase accounL wlll be
reduced by an equal amounL
; repare Lradlng and proflL and loss a/c also prepare 8/S as on 31
sL
uec
1999
Cap|ta|
Cred|tors
Cutstand|ng expenses
kent rece|ved
urchases returns
Sa|es
rov|s|on for ad dets
Advert|sement deve|opment
|ant and mach|nery
Goodw|||
Agent's samp|es
Cpen|ng stock
Detors
Cash at ank
Cash |n hand
20S00
1S000
3400
300
2000
144800
300
4000
10000
2S00
13S0
16000
7300
1000
SS
Draw|ngs
urchases
Carr|age |nwards
Wages
ower
Dep Cf mach|nery
Sa|ary
D|scount rece|ved
Genera| expenses
repa|d expenses
Sa|ary of agent
kent and |nsurance
D|scount a||owed
Sa|es returns
Comm|ss|on to agent
2S00
8SS00
7S0
11S00
4000
S00
17200
900
4100
200
4SS0
99S0
2S00
300
144S
Ad[ustments
(l) Closlng sLock was valued aL 8s 13700 Coods cosLlng 8s 1000 was
desLroyed by flre 1he lnsurance company admlLLed clalm for 8s 790
only
(ll) WrlLe off 8s 300 as bad debLs and creaLe a provlslon for doubLful debLs
on debLors aL 3
(lll) uepreclaLe agenL's samples by 33
1/3