Motor Car 20000 - Sundry Creditors - 43000 Loan - 30000 Reserve for bad debts - 3000 Purchases 140000 - Purchase returns - 2600 Sales - 230000 Sales returns 4200 - Salaries 11000 - Rent for godown 5500 - Interest on loan 2700 - Rates and taxes 2100 - Discount allowed to debtors 2400 - Discount received from creditors - 1600 Freight on purchases 1200 - Carriage outwards 2000 - Drawings 12000 - Printing and stationery 1800 - Electric charges 2200 - Insurance premium 5500 - General office expenses 3000 - Bad debts 2000 - Bank charges 1600 - Motor car expenses 3600 - Capital account - 162000 472200 472200 Prepare Trading and Profit and Loss account for the year ended 31.3.2001 and the Balance sheet as on that date after making provision for the following: Depreciate Building by 5%, Furniture and Fixture by 10%, Office Equipment by 15% and Motor car by 20%. Value of stock at the close of the years was Rs. 44000. Reserve for bad debts is to be maintained at 5% of sundry debtors. Insurance premium includes Rs. 4000 paid towards proprietor’s life insurance policy and the balance of the insurance charges cover the period from 1.4.2000 to 30.6.2001. 17. From the following Balance of Mr. Gaurav Singh for the year ending 31.3.2000 and additional information given, prepare Trading and Profit and Loss account and Balance Sheet as on 31.3.2000: Particulars Credit Opening stock - Capital - 464000 Debtors and Creditors 75000 43750
Motor Car Sundry Creditors Loan Reserve for bad debts Purchases Purchase returns Sales Sales returns Salaries Rent for godown Interest on loan Rates and taxes Discount allowed to debtors Discount received from creditors Freight on purchases Carriage outwards Drawings Printing and stationery Electric charges Insurance premium General office expenses Bad debts Bank charges Motor car expenses Capital account 20000 - - - 140000 - - 4200 11000 5500 2700 2100 2400 - 1200 2000 12000 1800 2200 5500 3000 2000 1600 3600 - 472200 - 43000 30000 3000 - 2600 230000 - - - - - - 1600 - - - - - - - - - - 162000 472200 Prepare Trading and Profit and Loss account for the year ended 31.3.2001 and the Balance sheet as on that date after making provision for the following: Depreciate Building by 5%, Furniture and Fixture by 10%, Office Equipment by 15% and Motor car by 20%. Value of stock at the close of the years was Rs. 44000. Reserve for bad debts is to be maintained at 5% of sundry debtors. Insurance premium includes Rs. 4000 paid towards proprietor’s life insurance policy and the balance of the insurance charges cover the period from 1.4.2000 to 30.6.2001. 17. From the following Balance of Mr. Gaurav Singh for the year ending 31.3.2000 and additional information given, prepare Trading and Profit and Loss account and Balance Sheet as on 31.3.2000: Particulars Credit Opening stock Capital Debtors and Creditors - 75000 - 464000 43750
bcom_notes.docx