Std. XI: Book-Keeping and Accountancy
Q.17. Following is the Trial Balance, you are required to prepare Trading and Profit \& Loss Account for the year ending \( 31^{\text {st }} \) March 2012 and Balance Sheet as on that date.
Trial Balance as on 31-03-2012
Particulars Stocr \( (01042011) \) Purchases Loose Tools Furniture Sundry Debtors Premises Retum Inwards Cash in Hand Bad Debts
\( \begin{array}{rlr}\text { Debit } & & \text { Credit } \\ ₹ & & 2,00,000 \\ 40,760 & \text { Sales } & 400 \\ 1,25,000 & \text { Commission } & 3,800 \\ 25,000 & \text { Peturn Dutwards } & 98,880 \\ 8,000 & \text { Copital } & 400 \\ 45,000 & \text { Unpard Salary } & \end{array} \)
Sundry E Wages Postage
Audit Fees
Godown Expenses
Carriage Outward
Insurance
Discoun Allowed \( 3,03,480 \)
rs
2 40,760 \( 1,25,000 \) 25,000 8,000 45,000 30,000 800
Total:
\( 3,03,480 \)
Adjustments:
Closing Stock Cost Price ₹ 25,000 and Market Price ₹ 30,000
Depreciate looge toois by ₹ 2,000 and Furniture (p) \( 5 \% \) p a
Commission ₹ 100 Was due but not received.
Provide ₹ 3,000 for further bad debts and mantain reserve for bad and doubtlul debts (ai) \( 5 \% \)
Goods costing \( ₹ 4,000 \) wore distributed as free simples
