Page 149 - Account 10

S.L.C/SEE Examination Questions

8. Prepare a profit and loss account of Kamal Industry Ltd. for the year end of
Ashad, 2058 from the following particulars. (2058R)

Particulars Amount Particulars Amount
Gross profit 1,00,000/- Salaries 40,000/-
Trade expenses 5,000/- Bank charges 500/-
Commission received 10,000/- Discount on sales 3,000/-
Interest received 2,000/- Interest expenses 11,000/-
House rent received 25,000/- Travelling expenses 15,000/-
(Ans: Net Profit Rs. 62,500)
9. Prepare a Profit and Loss Account of Bhaktapur Shoes Factory of 31 Ashadh,
st
2061 from the following transactions. (SLC 2061 ‘R’).
Particulars Amount Particulars Amount
Gross profit 3,56,000 Discount on purchase 5,000
Advertising 25,000 Interest received 21,000
Rent received 50,000 Insurance 33,000
Stationary 18,000 Carriage outward 40,000
(Ans: Net Profit Rs. 3,16,000)

10. Prepare a Profit and Loss Account of Daliyan Limited for the year ended
2001. (Board)

Particulars Amount Particulars Amount
Gross profit 3,000 Depreciation 2,200
Trade expenses 1,100 Postage and telegram 2,500
Salaries 1,200 Insurance 500
Discount 2,000 Advertisement 1800
Rent earned 8,000 Miscellaneous 800
Interest on investment 1,000 Bad debt 1,000
(Ans: Net loss Rs. 1,100)
11. Prepare a Profit and Loss Account of Bibek and Co. for the end of Ashadh,
2060 from the following particulars. (Board 060)
Particulars Amount Particulars Amount
Salaries 80,000 Gross profit 1,25,000
Advertisement 2,000 Interest received 20,000
Printing and stationery 4,500 Legal charges 5,000
Insurance 2,000 Audit fee 2,000
Bad debt 3,000 Commission received 10,000
Bank charges 1,500 Depreciation 5,000
(Ans: Net Profit Rs. 50,000)

148 Aakar’s Office Practice and Accountancy - 10 Final Accounts 149