Page 173 - Account 10

36. From the following Trial Balance of Shyamjee & Sons, prepare Trading and
Profit and Loss Account for the year ended 31 Ashadh, 2075 and Balance
st
Sheet as on that date.
Dr. Balance Amount Cr. Balance Amount
Plant and machinery 5,000 Capital 8,800
Drawings 100 Sales 23,400
Fixtures and fittings 2,600 Purchase returns 200
Loose tools 1,000 Discount received 300
Cash at bank 1,100 Sundry creditors 2,100
Cash in hand 100 Provisions for bad debts 100
Stock (1-4-2074) 600
Purchases 9,000
Sales return 400
Wages 4,000
Carriage inward 1,600
Salaries 2,080
Office and general expenses 3,500
Rent and taxes 720
Postage and telegrams 250
Packing and distribution 450
Sundry debtors 2,400
34,900 34,900
The following adjustments should be taken into account.
Stock on 31-3-2075 was valued at Rs. 1,540.
Depreciate plant and machinery at 10% and furniture and fittings at 5%.
Ans: Gross profit Rs. 9540,
Net profit Rs. 2210,
Balance Sheet (total) Rs. 13110.

37. From the following Trial Balance, prepare Trading Account, Profit and Loss
A/c. for the year ended 30 Chaitra, 2075 and Balance Sheet as on that date.
th
Particulars Dr. (Rs.) Cr. (Rs.)
Capital 8,000
Purchases 7,200
Discount 100
Salaries 1,740
Wages 460
Sales 12,000
Carriage inwards 55
Rent, rates and taxes 240
Plant and machineries 3,065

172 Aakar’s Office Practice and Accountancy - 10 Final Accounts 173