Prepare Trial Balance from the following information:

Capital Rs.50,000; Bank Loan Rs.20,000; Trade payables Rs.18,000; Rent outstanding Rs.4,000. Capital reserve Rs.5,000; Commission received Rs.3,000; Bad debts Rs.5,000. Plant & Machinery Rs.60,000; Goodwill Rs.16,000; Carriage inwards Rs.2,500; Carriage outwards Rs.1,500; Trade Receivables Rs. 10,000; Profit and Loss (Dr.) Rs.5,000.

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Solution

Trial Balance

$\begin{matrix} Particulars & Debit & Credit Capital & 50, 000 Bank Loan & 20, 000 Trade payables & 18, 000 Rent outstanding & 4, 000 Capital reserve & 5, 000 Commission received & 3, 000 Bad debts & 5, 000 Plant & Machinery & 60, 000 Goodwill & 16, 000 Carriage inwards & 2500 Carriage outwards & 1500 Trade Receivables & 10000 Profit and Loss (Dr.) & 5, 000 Total & 1, 00, 0000 & 1, 00, 000 \end{matrix}$

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Prepare Trial Balance from the following information :

Prepaid Expenses Rs. 5,000, Profit & Loss A/c (Profit) Rs. 8,000, Outstanding Rent Rs. 2,000, Bad Debts Recovered Rs. 4,000, Interest on Investment Rs. 1,000, Due to Mohan Rs. 5,000, Bank overdraft Rs. 2,000, Discount Allowed Rs. 800, Due from Vinod Rs. 1,200, Investment Rs. 15,000, Patents Rs.4,000, Machinery Rs.6,000, Capital Rs. 10,000.

Prepare Trial Balance from the following information:

Loan given to Ramesh Rs.40,000; Trade Receivables Rs.50,000; Livestock Rs.30,000; Drawings Rs.10,000. Preliminary Expenses Rs.20,000; Investment Rs.50,000; Interest on investment Rs.5,000. Capital Rs.1,25,000; Advance from Mohan Rs.35,000; Bank overdraft Rs.15,000; Provision for doubtful debts Rs.8,000; General Reserve Rs.12,000.

Following is the Trial Balance of M/s Duppar, you are required to prepare Trading Profit & Loss Account for the year ending 31st March, 2011 and Balance Sheet as on that date.

Trial Balance as on 31st March, 2011
Particulars	Debit Amount Rs	Credit Amount Rs
Opening Stock	40,000
Purchases and Sales	1,20,000	2,00,000
Wages	12,000
Carriage inward	2,500
Salaries	10,000
Printing and stationery	3,500
Machinery	40,000
Carriage outward	2,000
Office expenses	4,500
Land and Buildings	35,000
Furniture	10,000
Bank balance	5,500
Sundry Debtors and Creditors	20,000	18,000
Bad Debts	500
Rent and Taxes	1,500
Advertisement	1,000
Capital		70,000
Commission received		2,000
Bills Payable		5,000
10% Bank Loan (Taken on 1-10-2010)		20,000
Drawings	7,000
Total	3,15,000	3,15,000

Adjustment:

1) On 31st March 2011 Stock was valued at Rs 25,000.

2) Outstanding Salaries Rs 2,500 and Wages Rs 2,000.

3) Goods worth Rs 1,500 distributed as free sample.

4) Provide Reserve for bad debts at 5% on Sundry debtors.

5) Wages included Rs 10,000 paid for fixation of machinery on 1-4-2010

6) Depreciate Machinery at 10% p.a. and Furniture by 15% p.a.

Q. Gross Profit Rs 1,20,000, Rent Rs 10,000, Salary Rs 30,000, Commission paid Rs 14,000 Interest on Loan Rs 10,000. Advertising Rs 8,000, Discount received Rs 6,000, Printing & Stationery Rs 4,000, Legal charges Rs 10,000, Bad Debts Rs 2,000, Depreciation Rs 4,000, Interest received Rs 8,000, Loss by life Rs 6,000. The net Profit for the year is :

Calculate closing stock and cost of goods sold. Opening stock Rs. 5,000 ; sales Rs. 16,000; carriage inwards Rs. 1,000, sales return Rs. 1,000; gross profit Rs. 6,000; purchases Rs. 10,000; purchases return Rs. 900.

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