Page 170 - Account 10

21. Prepare the Balance Sheet of Mero & Tero Distributors on the basis of the
following particulars as on 31 Ashadh, 2075.
st
Particulars Amount Particulars Amount
Capital 300,000 Building 190,000
Investment 70,000 Reserves 40,000
Net Loss 40,000 Rent due 5,000
Accrued Income 20,000 Closing stock 25,000
Ans: B/S. Total: Rs. 3,05,000
22. Prepare the Balance Sheet of C & V Distributors on the basis of the following
particulars as on 31 Ashadh, 2075.
st
Particulars Amount Particulars Amount
Capital 1,50,000 Short term Loan 30,000
Stock (31 Ashad) 45,000 Prepaid Expenses 20,000
Vehicles 1,00,000 Sundry Debtors 40,000
Advance Rent received 15,000 Net Profit 10,000
Ans: B/S. Total: Rs. 2,05,000
23. Prepare the Balance Sheet of C & U Distributors on the basis of the following
particulars as on 31 Ashadh, 2075.
st
Particulars Amount Particulars Amount
Capital 155,000 Copy Right 55,000
Investment 70,000 Preliminary Expenses 40,000
Long Term Loan 50,000 Advance Expenses 40,000
Net Loss 25,000 Reserve for Provident Fund 25,000
Ans: B/S. Total: Rs. 2,05,000
24. Prepare Trading and P/L account on the basis of the following transactions of
ABC Company at the end of fiscal year 2075 Ashadh.
Description Amount Description Amount
Purchase 1,50,000 Wages 7,500
Opening stock 2,15,000 Rent and fee 1,500
Purchase return 11,000 Printing and Stationery 2,500
Sales 4,02,500 Trading Expenses 32,150
Sales return 7,500 Advertisement 2,500
Salary 87,000 Legal fees 1,500
Carriage inwards 1,000 Closing stock 1,00,000
Gross profit Rs.1,32,500 Net Profit Rs. 5,350
25. From the following, prepare a Profit and Loss A/c.
Description Amount Description Amount
Salaries 42,000 Gross Profit 1,32,000
Postage & Telegram 2,400 Insurance 1,800
Travelling & Conveyance 5,200 Advertisement 8,000
Law Charges 1,400 Bad Debts 5,000
Discount Received 3,000 Discount Allowed 1,000
Net Profit Rs. 68,200

170 Aakar’s Office Practice and Accountancy - 10 Final Accounts 171