Buildings 1,000 Machinery, Plant and Furniture (Cost ` 2,500 thousand) 1,500 Book Debts 728 Bank Balance (Dr.) 488 Investment, 9% Government Loan at par 200 Bills Receivable 450 Salaries an Wages 660 Fees 100 Office Expenses 440 Repairs and Renewals 236 Interest Paid 14 Bad Debts Recovered 5 The value of stocks on hand as at 31st March, 2013 was `1,360 thousand including goods costing `18 thousand received on 30th March, 2013 in respect of which supplier’s bill had not yet been received. Goods of the cost of ` 30 thousand were sent to a customer on sale or approval The invoice for ` 40 thousand was entered in the Sales Book. Provision is to be made for bad debts to the extent of ` 8 thousand, and for depreciation of buildings at 2% per annum: Machinery, Plant and Furniture have been depreciated at 20% of the diminishing Niyati, however, considers that the proper method is 8% of the original cost and wishes to adopt it with effect from 1st April, 2009. ` ` [Ans.: G.P. = 1,386 thousand; N.P. = 652.5 thousand; of B/S =` 2,866 thousand].
Buildings 1,000 Machinery, Plant and Furniture (Cost ` 2,500 thousand) 1,500 Book Debts 728 Bank Balance (Dr.) 488 Investment, 9% Government Loan at par 200 Bills Receivable 450 Salaries an Wages 660 Fees 100 Office Expenses 440 Repairs and Renewals 236 Interest Paid 14 Bad Debts Recovered 5 The value of stocks on hand as at 31st March, 2013 was `1,360 thousand including goods costing `18 thousand received on 30th March, 2013 in respect of which supplier’s bill had not yet been received. Goods of the cost of ` 30 thousand were sent to a customer on sale or approval The invoice for ` 40 thousand was entered in the Sales Book. Provision is to be made for bad debts to the extent of ` 8 thousand, and for depreciation of buildings at 2% per annum: Machinery, Plant and Furniture have been depreciated at 20% of the diminishing Niyati, however, considers that the proper method is 8% of the original cost and wishes to adopt it with effect from 1st April, 2009. [Ans.: G.P. = ` 1,386 thousand; N.P. = ` 652.5 thousand; of B/S =` 2,866 thousand].
16443-fa-pdf-1-&-2-units-.docx