Practice paper. Subject Accountancy CLASS XI TIME 3HRS MM 90

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1 Practice paper Subject Accountancy CLASS XI TIME 3HRS MM 90 GENERAL INSTRUCTIONS:- 1. All questions are compulsory. 2. Marks are indicated against each question. 3. Give calculations or working notes where ever required. 1 On 1 st Jan 2011,Mr.Robert was appointed as manager of the firm with a salary of Rs.50,000 per month. State whether this event will be recorded in the books of accounts. 1 2 Write the rules of debit and credit for assets. 1 3 Give two example of accounting software. 1 4 Differentiate between outstanding and prepaid expenses. 1 5 Goods worth Rs.1,00,000 were burnt by fire and claims of 70,000 has been accepted by the insurance company. How much amount should be transferred to Profit and loss account? 1 6 Why closing stock is valued at cost price or realizable value whichever is less? 1 7 a) Which accounting concept requires that the life of business should be broken into smaller parts? Identify and Explain. b) If a businessman s income is more than Rs.2,50,000 and as per income tax law he is required to pay income tax but the businessman is not following the double entry system. Which value is being ignored by the businessman? (2+1) 8 Define the following terms: 1. Trade receivables 2. Purchases 3. Capital What do you mean by TPS? Explain its any two application Prepare accounting equation from the following: Started business with cash Rs.75,000 Purchase goods for Rs. Rs.20,000 Goods sold for cash(costing 5,000) Rs.7, Expand IFRS And GAAP)Differentiate IFRS and Indian GAAP(Accounting Standards) Pass the journal entries to rectify the following errors: (1)Machinery purchased for Rs. 5,000 has been debited to purchases A/c. (2)Rs. 700paid to Sh. Mohan Kapoor as legal charges were debited to his personal account. 4

2 (3) Rs.10,000 paid to Escorts company for machinery purchased stand debited to Escorts company A/c. (4)Typewriter purchased for Rs.6,000 was wrongly passed through purchase book. 14 Pass journal entries for the following: 2005 Jan 6 sold goods to Muskan of the list price of RS. 2,00,000 at trade discount of 20% Jan8 Muskan returned goods of the list price of 5,000. Jan15 Received from Muskan the full payment under a cash discount of 4%. 15 On the bank balance as per Rajesh chauhan s Pass book was Rs.17,280. On comparing the cash book with pass book, following differences were found :- 1. Cheques for Rs.8,400 sent for collection have not been cleared by the bank so for. 2. Cheques issued but not yet presented for payment Rs. 5, There is a debit of 80 in the pass book for bank charges,but not recorded in the cash book. 4. Bank has credited Rs.240 for interest in the pass book but these are also not recorded in cash book. 16 Write up Return outward book of Malhotra & co., Bhiwani from the following transactions: Aug4 Returned to Saraswati house Rs.180 per Chair, being not of specified quality. Trade discount 10% Aug 12 Sent back to Navneet Ent.,Karnal for not being polished one dining and 20 Rs.190 each. Aug20 Returned to Yadav &co., Revari, being not according to sample: each 2 dressing tables@rs. 1,500each. Aug28 Allowance claimed from Navneet enterprise,karnal on account of mistake in the invoice Rs Explain the following Assumptions/Concepts of accounting: i) Going concern ii) Accrual concept 18 Gokul Das maintains incomplete record of his business. He wants to know thwe results of his business on 31 mar 2006 and for that, following information are available. PARTICULARS 1APRIL MAR CASH IN HAND 1,50,000 1,75,000 BANK BALANCE 7,50,000 6,00,000 FURNITURE 1,00,000 1,00,000 STOCK 5,00,000 4,50,000 CREDITORS 3,50,000 4,00,000 DEBTORS 2,50,000 3,00,000 Personal expenses of Gokul Das paid from business account amounted to Rs.4,80,000 and goods worth Rs.20,000 were withdrawn by him for personal use. He sold ornaments of his wife for Rs. 3,50,000 and invested that amount into the business. Calculate his profits or loss what do you mean by computersied accounting?. write its features. 6

3 20 Enter the following transactions in the Triple Column Cash Book of Mr. Mohan: Jan1 cash in hand 2,200 Cash at bank 5,000 Jan5 received a cheque from Naresh 1,000 Jan8 cheque received from Naresh endorsed to suresh in full settlement of his account of Rs.1,050 Jan 10paid LIC of Mr. Mohan 100 Jan 13 received a cheque from pawan in full settlement of his account of Rs.750 for 700 Jan 16 Pawan s cheque returned dishonoured by bank Jan 20 deposited into bank, balance of cash in excess of Rs What do you mean by accounts from incomplete records? Differentiate between double entry system and incomplete record Anu purchased goods for Rs.23,000 from kavita on October 15,2009 and accepted a bill of exchange drawn upon her by Kavita payable after two months. On the date of maturity the bill was Duly presented for payment. Anu dishonoured the bill. The payee noted with Rs.95 as noting charges. Record the neceeary journal entries in the books of kavita and Anu, when (a)the bill was immediately discounted by Kavita with her (b)the bill was endorsed by Kavita in favour of her creditors Shankar after one month. Or You are given the following balances as on April1,2005: Machinery A/c 5,00,000 Provision for depreciation A/c 1,16000 Depreciation is charged on machinery at 20% p.a. by the diminishing balance method. A piece of machinery purchased on April 1,2003 for Rs.1,00,00 was sold on October 1,2005 for Rs.60,000. Prepare the machinery account and provision for depreciation account for the year ended Also prepare machinery disposal A/c 24 From the following information, prepare financial statements of M/s Raj & Bros. for the year ending march 31,2009. Particulars Stock( ) Sales returns Purchases Freight-in Rent and taxes Salaries T.debtors Bank interest Printing and advertising Cash at bank Discount allowed Investment Furniture General expenses Aduit fees Insurance Travelling exp. Amount 16,800 8,000 2,43,000 8,600 5,700 9,300 24, ,600 18,300 1,340 25,000 3,800 3, ,000 Particulars Capital Sales Return outward Trade creditors 10% bank loan ( ) Income from investment Discount received Amount 78,000 3,09,000 5,700 4,800 24,000 3,600 2,

4 Plant & machinery Drawing 30,000 10,000 4,27,000 4,27,000 Additional information:-1. Charge depreciation on plant and machinery. 2.This entitled to a commission of 10% of the net profit before charging such commission. 3. closing stock in trade is valued at Rs.6,000(cost); Rs.6,200(market price). 4. rent outstanding5,000. OR. From the following trial balance of Sh X prepare Trading and Profit and loss account for the year ending and balance sheet as on that date: Particulars Debit Amount Credit amount Purchase and sale Return inward Return outward 9000 Carriage Wages and salaries Trade expenses 2200 Rent Insurance 2000 Audit fee 1200 Debtors and creditors B/R and B/P Printing and 5500 advertising Commission 1000 Opening stock Cash Bank Bank loan Interest on loan 1500 Capital Drawings Fixed assets Adjustments: i) Stock at the end ii) Depreciate fixed assets by 10% iii) Commission earned but not received amounts to Rs. 400 iv) Rent received in advance Rs. 1000

5 PRACTICE PAPER-2 S. No Questions Mks 1 5 स तम फय 2014 क इभ यत खय द, भ र च २०१५ क भह न क द य न इभ यत क 1h भयम भत ऩय खर च ककए गए, इ भयम भत य स क सरए कक ख त क ड बफट ककम ज एग? Building purchased on 5 th sep2014, repair charges made on building during the month of march 2015, this repair amount to be debited to which account? 2 क रम व ऩ ककत फ क प र र ऩ फन ए Draw format of purchase return book. 3 कक र ख स दध त क तहत, भ नव क तत क ग णवत त क ख त भ दजच नह ह? Under which accounting principle, quality of man power is not recorded in the books of accounts? 4 जफ भ र एक अन थ रम भ ददम ज त ह,त क न भ ल म उदघ दटत ह त ह? Which value is highlighted when goods are given in an Orphanage? 5 प र ऩ ड खर च वतचभ न वर च क खर च अरग तम ककए ज त ह औय एक भ ज द ऩत तत त क र ऩ भ त रन ऩत र भ तम ददख म ज त ह I Why are Prepaid Expenses segregated from current year s expenses and taken to Balance Sheet as a current asset? 6 र ख कन भ नक क क ई एक उदद श म सरख. Write any one objective of accounting standard. 7 ख त क प रक य क न भ फत ए: i) ऩ ज ii) अक जचत आम iii)द नद य iv)ककय म v) फ क vi)पन र य Name the types of account: I. CapitalA/C II. Accrued commission A/C III. Debtor s A/C IV. Rent A/ V. Bank A/C VI. Furniture A/C 8 एत सरसभट ड क एक १०० कय ड र ऩम क त तऩ ग भ र ननभ चण कयन क एक अन फ ध प र प त ह त ह ज क 3 र भ ऩ य ककम ज न ह I क ऩन क प रफ धक र हत ह कक अन फ ध ऩ य ह ज न ऩय र ब म ह नन क अन भ न रग म ज एग तम प रफ धक उचर त ह? तम? भझ एI X ltd gets a contract of Rs. 100 crore to build a shopping mall to be completed in 3 years. The management of company wants to ascertain profit or loss on this contract when the contract is completed. Is the management justified? Why? Explain 9 र ख कन त तवत त म र नद न क त तवर म भ गणन त भक ज नक य प रद न कयत ह ज आचथचक 1r 1h 1e 1r 1e 3u 3h 3r ननणचम र न भ उऩम ग ह त ह I त तवत त म ज नक य क र ख एकबत रत, रयक डच, वग क त औय य फन कय अऩन उऩम गकत चओ क सरए ब ज ज त ह. इ दबच भ र ख क कक ब त न फ हय उऩम गकत चओ क व म ख म क ष ऩ भ कय I

6 Accounting provides quantative information about financial transactions which are useful in making economic decisions. Accounting collect, records, classifies and summarises the financial information which is communicated to its users. In the same context explain any three external users of accounting. 10 वर च क द य न क ऩन न ५०० र ऩम क ऩ न खय द I मह कभचर रयम क सरए ज य ककए गए थ औय अब ब वर च क अ त भ इस त भ र भ थ. आऩ इ भद ननऩटन भ क न र ख कन अवध यण क ऩ रन कय ग I क भझ ओI During the year company purchased ball point pens of Rs These were issued to employees and were still in used at the end of the year. Which accounting concept you would follow in dealing with this item. Explain also. 11 ननम नसरखखत भद भ क न ऩय क षण त रन क ड बफट म क र डडट ऩक ष भ सरख ज एग? भ हन क ददए 1, र. व म ऩ य प र प म ५०,००० र ऩम ; ऩ धन ३०,००० र ऩम ; अIहयण १०,००० र. प र य सबक खर च २०,००० र ऩम ; ननव र. ५०,०००; ननव ऩय ब म ज र ५,०००; ऩ ज र.1, 85000; हभ अच भ प र प त र ३५,००० फ कअचधत तवकर च र. १५०००; ददग ध ऋण क सरए प र वध न 8, 000; भ न म र म र ऩम १२,०००. Which of the following items will take place in the debit or credit side of the Trial Balance? Loan to Mohan Rs. 1,00,000; Trade Receivables Rs. 50,000; Livestock Rs. 30,000; Drawing Rs. 10,000. Preliminary Expenses Rs. 20,000; Investment Rs. 50,000; Interest on investment Rs. 5,000; capital Rs. 1,85,000; advance from soham Rs. 35,000; Bankoverdraft Rs ; Provision for doubtful debts Rs.8,000; General Reserve Rs. 12, र म औय प र वध न क भझ ओI प रत म क क द - द उद हयण द I Explain Reserves and Provisions. Give any two examples of each. 13 क षक षप त भ ननम नसरखखत क व म ख म कय : ए) ऩत तत त फ ) व म ऩ य प र प म ) नकद छ ट I Explain the following in brief: a)assets b)trade receivables c)cash Discount 14 र ख कन क 'नकद आध य उऩ जचन आध य क फ र अ तय स ऩष ट क क जएI Differentiate between cash basis of Accounting and Accrual bases of Accounting. 15 ननम न त र दटम क ध य त भक प रव क ष टम कय : 3h 3e 3r 4r 4u 4a 1. भ म क १२८०० ब गत न क य स गरत १८२०० दम क ख त भ ड बफट ककम गम 2. व ऩ आवक ऩ स तक क क र ७५० र कभ रग ए गम 3. व मक ततगत उऩम ग क सरए भ टय फ इक क खय द क र गत र ४५,००० भ टय

7 व हन ख त भ खत न क गईI 4. त तवक क १,२५० क ब गत न कयन प र प त १०० र. छ ट क दजच नह ककम गम Rectify the following Errors: 1. Amount of Rs paid to Maya was wrongly debited to Daya as Rs Total of return inward book has cast by Rs. 750 short 3. Purchase of Motor Bike for personal use costing Rs 45,000 had been posted to Motor Vehicle account. 4. Discount received from Vikas Rs. 100 on paying Rs. 1,250 to him was not recorded. 16 भ / आरभ क., भ फई २०१५ क त तवक रम ऩ क स तक भ ननम न र न-द न दजच कय 4 भई क ग प त ब रद च, नई ददल र (र र न न. १७५) 10 दजचन ऩ स र 20 र ऩम प रनत 14 यफय 5 र प रनत दजचन १४ भई पजर सभय ज़ ए ड क., इ द य (र र न न. २४५) 5 दजचन गभ क फ तर 5 र प रनत दजचन. 70दजचन प ट ट 15 र प रनतदजचन घट ए- व म ऩय छ ट 10% क भई 17 ऩ य न भ र य ऩत र 200 र भ फ र (र र न न २६५) 25 भई य न दय ब र., कयन र (र र न न. २७५) 10 रयभ क गज 60 र प रनत रयभ 10 दजचन ऩ स र 18 र प रनत दजचन घट - व म ऩ य छ 10% क ३० भई त तवत तऩन क 10 दजचन करभ 120र प रनत दजचन क दय नकद फ र ददम Enter the following transactions in the sales book of M/S Alam & Co., Mumbai 2015 May 4 Sold to Gupta Bros, New Delhi(invoice no 175) 10 dozen Rs 20 per dozen 14 gross Rs 5 per dozen May 14 Sold to fazal miraz & Co.,Indore (invoice no 245) 5 dozen gum Rs 5 per bottle 70 dozen Rs.15 per dozen Less Trade 10% May 17 Sold old newspaper for Rs. 200(invoice no 265) May 25 Sold to Surendra Bros, Karnal (invoice no 275) 10 reams of 60 per ream 10 dozen 18 per dozen Less Trade 10% May 30 Sold to Vipin for cash 10 dozen Rs 120 per dozen 17 ए) अ नतभ ख त क भ म जन भ ददख ए गए फक म व मम क भद क उऩर य क 4a 4h व म ख म कय I फ) ' अ नतभ ख त तम ह? इन ह ऐ तम कह ज त ह?

8 A)Explain the treatment of below items shown in adjustment: i) Outstanding expense B) What are Final Accounts? Why they are so called? 18 Pass journal entries: i) Purchased an old machinery for Rs 1,00,000 and spent Rs 5000 on its carriage and Rs 20,000 on its immediate repairs. ii) Received Rs 38,000 from Dushyant on his account for Rs 40,000. iii) Provide interest on capital of Rs 6% p.a. for nine months. iv) Goods costing Rs 80,000 sold to Mohan for Rs 1,00,000. जनचर प रत तवक ष टम ककज मए क. एक ऩ य न भ नय Rs 1,00,000 भ खय द तथ Rs 5000 उ क ढ र ई तथ Rs 20,000 उ क भयम भत भ खर च ककम गए ख. Rs 40,000 क सरए द ष म त प र प त ककए Rs 38,000 ग. Rs 15,00,000 क ऩ ज ऩय ब म 6% व त तर चक दय 9 भह न क सरए प रद न ककज ए घ. Rs 80,000 क भ न भ हन क फ र गम Rs 1,00,000 भ 19 ननम नसरखखत त तववयण 30 व ज न २००८ ऩय एक फ क भ ध न त तववयण त म य कय : 1. ग प त bros क नकद ऩ स तक क 30 ज न २००८ क र 7000 र अचधत तवकर च ह 2 र ऩम ६,०००क र क फन म,र ककन 30 ज न क फ द ब न म. 3. ७५०० र क र क फ क भ जभ ककम र ककन 30 ज न ऩहर एकत र औय क र डडट नह ह आ 4. फ क न ह ल क क 100 र ड बफट ककए 5. र ५०० क एक प र प म बफर क अन दयण ह गम ज क ह ऩहर फ क फट ट गत थ र ककन नकद ऩ स तक भ जभ नह ककम गम. 6 फ क न ब म ज क य एकत र क औय ऩ फ क भ ८५० र. क य स जभ क From the following particulars prepare a Bank Reconciliation Statement on 30 th June 2008: 1. Cash book of Gupta bros. showed an overdraft of Rs. 7,000 0n 30 th June Cheque Drawn but cashed after 30 th June Rs. 6, Cheque paid into bank but not collected and credited before30 th June to Rs. 7, Bank debited Rs100 on account of bill collection charges. 5. A bill receivable for Rs 500 discounted earlier with the bank been dishonoured but not credited in the cash book 6. The bank has collected interest and credited in pass book amount of Rs जनवय, २०१३ ऩय, त तवब न ध क १८००० र भ ल म क भ र फ र ददम औय एक द 6r 6u 6u भह न क फ द द म य स क सरए त तवननभम ऩत र सरख I ध न इ ऩत र क स व क य ककम

9 औय त तवब क र ट ददम त तवब अऩन र नद य ग त क ऩक ष भ त य त बफर क त तवभ र न कय ददम I. ऩरयऩतवत ऩ र ददन ऩहर धन क कभ क क यण ध न त तवब बफर क यदद कयन क सरए अन य ध ककम I ध न अन य ध ककम कक. वह २०० र. क ब म ज दहत एक नम बफर सरख I त तवब न स व क य ककम ह त तवब न ग त उ नकद भ ब गत न कयक बफर सरम औय उ यदद कय ददम तफ उ न ध ऩय एक नम बफर सरखन भ हभत ह ए I एक भह न क फ द नम बफर द म थ I ध दव य नए त तवननभम ऩत र क ऩरयऩतवत ऩय त तवचधवत र ऩ ब गत न ककम गम त तवब क ऩ स तक भ य जन भर प रव क ष टम कय On Jan, 2013, Vibha sold goods worth Rs to Sudha and drew up a bill of exchange for the same amount payable after two months. Sudha accepted this bill and returned to Vibha. Vibha endorse the bill immediately in favour of her creditor Geeta. Five day before the maturity of the bill Sudha requested Vibha to cancel the bill since she was short of funds. She further requested to draw a new bill upon her including interest of Rs 200. Vibha accepted Sudha s request. Vibha took the bill from Geeta by making payment to her in cash and cancelled the same. Then she drew a new bill upon Sudha as agreed. The new bill was payable after one month. The new bill was duly met by Sudha on maturity. Record the journal entries in the book of Vibha. 21 ननम न र न-द न क आध य ऩय र ख कन भ कयण ददख ए औय अ नतभ भ कयण क 6a आध य ऩय त रनऩत र त म य कय. र.1. भह य ज न नकद क थ व म ऩ य र ककम, 2. नकद भ र खय द 70, उध य भIर खय द नकद पन र य खय द ह र ३००० 5 ककय म ब गत न ककम 2, ४५००० र गत क भ र ६००००र भ फ र I 7. र नद य क ब गत न ककए 20, ननज प रम ग क सरए ननकर 10, व तन क ब गत न ककम 5, उध य ऩय फ र भ र (र गत भ ल म र. 60, 000) Show the Accounting Equation on the basis of the following transactions and prepare a Balance Sheet on the basis of the last equation. 1. Maharajan commenced business with cash 1,00, Purchased goods for cash 70, Purchased goods on credit 80,000 Rs.

10 4. Purchased furniture for cash 3, Paid rent 2, Sold goods for cash costing Rs.45,000 60, Paid to creditors 20, Withdrew cash for private use 10, Paid salaries 5, Sold goods on credit (cost price Rs.60,000) 80, Enter the following transactions in double column Cash book: 2015 Rs March 1 Started business with cash 50,000 2 Pays into bank 29,000 3 Received cheque from Ram and Co. Discount allowed Withdrew cash from bank for private 240 use 14 received cheque from David 395 discount allowed David s cheque endorsed to james in full settlement of his account of Paid rent by cheque. 1, Deposited into bank, balance of cash in excess of ननम नसरखखत र न-द न क य कड तथ फ क ख न फ र य कड फह भ सरखखए Rs भ र च 1 य कड रग कय व म ऩ य प र यम ब ककम 50,000 2 फ क भ जभ कयव ए 29,000 3 र क सभर य भ औय छ ट द 5 व मक ततगत प रम ग क सरए फ क य कड ननकर 14 ड त तवड र क सभर छ ट द ड त तवड क र क ज म क ऩक ष भ फ र न कय ददम 425 क सरए ककय म क ब गत न ककम र क दव य 1, य कड ह थ भ यख र फ क भ जभ कयव म भ दहन सरसभट ड न Rs 40,000 क भ नय क खय द घटत र 6h 8a ऩदधनत ऩय 10% p.a.दय ह र रग न ह

11 क भ नय भ एक र थ ई दहस फ क य ह न क क यण र 6,000 भ फ र ददम औय उ ददन एक नम भ नय र 15,000 भ खय द गई ख त प रनत वर च 31भ र च क फ द ककम ज त ह र य वर च क सरए भ नय ख त फन इम स वच छ ब यत असबम न क तहत क ऩन हय क फ़ कयन क सरए द ननक आध य ऩय क छ श रसभक क य जग य द न क प र ककम क न द भ ल म मह प रब बफत ह यह ह 24 Mohini limited purchased machinery for Rs 40,000 on Depreciation is 10% p.a. on the diminishing balance method. On , one fourth of machinery was found unsuitable and disposed of for Rs 6,000. On the same date a new machinery at a cost of Rs 15,000 was purchased. Show the machinery account for four years. The accounts are closed on 31 st March of every year. Under the Swachh Bharat Abhiyan, the Company decided to employ few workers on daily basis to clean the city. Which two values are effected by the Company. OR क ओभ क ऩन न 8,00,000 र क भ नय खय द क भ नय क क छ ब ग ज कक क 1,00,000र क थ ज कक 44,000 र भ फ र गम तथ उ ददन एक नम भ नय 1,20,000 र भ खय द गई भ र र गत ऩदधनत 10% p.a. ह रग थ ख त प रनतवर च 31भ र च क फ द ककए ज त ह भ नय ख त तथ भ ल मह ख त तथ भ नय ननऩट न ख त फन इम स वच छ ब यत असबम न क तहत क ऩन हय क फ़ कयन क सरए द ननक आध य ऩय क छ श रसभक क य जग य द न क प र ककम क न द भ ल म मह प रब बफत ह यह ह On Omesh Co. Ltd. purchased a machinery for Rs 8,00,000. On , a part of this machinery purchased on for Rs 1,00,000 was sold for Rs44,000 and on the same date a new machinery was purchased for Rs 1,20,000. Depreciation was 10% p.a. on Original Cost of the machinery and accounts are closed on 31 st March every year. Prepare machinery account and provision for depreciation account and machinery disposal account. Under the Swachh Bharat Abhiyan, the Company decided to employ few workers on daily basis to clean the city. Which two values are affected by the Company. ननर ददए गम तरऩट श र य म फह द य क ३१ भ र च २०१६ क त तवनतम त तववयण त म य कय I ३१ भ र च २०१६ क अ नतभ यहनतम २५०००र क थ I ड बफट र यकभ क र डडट र यकभ यहनतम ( ) 20,000 र नद य 15,000 क रम 75,000 क रम व ऩ 3,000 त तवक रम व ऩ 8,000 त तवक रम 2,50,000 8u

12 ढ र ई एवभ ककय म 7,500 कसभ न 3,300 भजद य 36,500 ऩ ज 1,70,000 व तन 12,000 ब म ज प र प त 2,000 भ यम भत 1,200 द म त तवऩत र 6,200 व म ऩ रयक खर 4,000 दय एवभ कय 24,000 य कड ह थ भ 5,700 प र प म त तवऩत र 4,000 द नद य 55,000 मत र एवभ भ नय 1,60,000 आहयण 16,600 फ क र 20,000 4,49,500 4,49,500 From the following Trial Balance of Shri Rai Bahadur prepare Trading and profit and Loss A/c for the year ending 31 st March, 2016 and Balance Sheet as at that date. The Closing Stock on 31 st March,2016 was valued at Rs. 25,000 Debit balances Am.(Rs.) Credit balances Am.(Rs.) Stock( ) 20,000 Sundry Creditors 15,000 Purchases 75,000 Purchase Returns 3,000 Sales return 8,000 Sales 2,50,000 Freight and Carriage 7,500 Commission 3,300 Wages 36,500 Capital 1,70,000 Salaries 12,000 Interest received 2,000 Repairs 1,200 B/P 6,200 Trade Expenses 4,000 Rent and Taxes 24,000 Cash in hand 5,700 B/R 4,000 Debtors 55,000 Plant and machinery 1,60,000 Drawings 16,600 Bank balance 20,000 4,49,500 4,49,500 OR 31 st भ र च, 2016 क तरऩट इ प रक य ह Iअ नतभ यहनतम क भ ल म ३५००० र ह I 31 st भ र च,2016 क र ब ह नन ख त तथ क स थनत त तववयण त म य कय I. ड बफट र यकभ क र डडट र यकभ क रम 60,000 ऩ ज 1,13,075

13 त तवक रम व ऩ 1,500 त तवक रम 1,27,000 मत र औय भ नय 90,000 क रम व ऩ 1,275 प र य सबक यहनतम 40,000 प र प त फट ट 800 द म फट ट 350 त तवत तवध र नद य 20,000 फ क व मम 100 द म त तवऩत र 5,000 द नद य 45,000 व तन 7,000 भजद य 10,000 ढ र ई ब ड (आन तरयक) 1,000 ढ र ई ब ड (फ हय ) 1,200 ककय म,दय एवभ कय 2,000 त तवज ञ ऩन 2,000 हस तस थ य कड 7,000 2,67,150 2,67,150 The Trial Balance shows the following balances as at 31 st March, 2016.Closing stock was valued at Rs 35,000. Prepare Trading and Profit and Loss account for the ended 31 st march,2016 and Balance Sheet. Debit balances Am.(Rs.) Credit balances Am.(Rs.) Purchases 60,000 Capital 1,13,075 Sales Returns 1,500 Sales 1,27,000 Plant and 90,000 Purchases returns 1,275 machinery Opening Stock 40,000 Discount Received 800 Discount Allowed 350 Sundry creditors 20,000 Bank charge 100 Bills payable 5,000 Sundry Debtors 45,000 Salaries 7,000 Wages 10,000 Freight :in 1,000 Freight :out 1,200 Rent,Rates and 2,000 Taxes Advertisements 2,000 Cash at Bank 7,000 2,67,150 2,67,150