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Dhanji Bai Ka Nohra, Ratlam (M.P.)
Cell: 9407261000, 9229282873
Email : dipsratlam@gmail.com
Q.1 Prepare trading and profit and loss account and balance sheet of M/s Royal
Traders from the following balances as on March 31, 2005. Debit balances
Amount Credit balances Amount
Stock 20,000 Sales 2,45,000
Cash 5,000 Creditors 10,000
Bank 10,000 Bills payable 4,000
Carriage on purchases 1,500 Capital 2,00,000
Purchases 1,90,000
Drawings 9,000
Wages 55,000
Machinery 1,00,000
Debtors 27,000
Postage 300
Sundry expenses 1,700
Rent 4,500
Furniture 35,000
Closing stock Rs.8,000
Q.2 From the following balances of M/s Nilu Sarees as on March 31, 2005. Prepare
trading and profit and loss account and balance sheet as on date.
Account Debit Account Credit
Opening stock 10,000 Sales 2,28,000
Purchases 78,000 Capital 70,000
Carriage inwards 2,500 Interest 7,000
Salaries 30,000 Commission 8,000
Commission 10,000 Creditors 49,330
Wages 11,000 Bills payable 2,370
Rent & taxes 2,800
Repairs 5,000
Telephone expenses 1,400
Legal charges 1,500
Sundry expenses 2,500
cash in hand 12,000
Debtors 30,000
Machinery 60,000
Investments 90,000
Drawings 18,000
Closing stock as on March 31, 2005 Rs.22,000.
Q.3 Prepare the trading and profit and loss account of M/s Roni Plastic Ltd. from
the following trial balance and a balance sheet as at March 31, 2006.
Debit balances Amount Credit balances Amount
Drawings 6,000 Creditors 16,802
Sundry debtors 38,200 Capital 60,000
Carriage outwards 2,808 Loan on mortgage 17,000
Establishment expenses 16,194 Bad debts provision 1,420
Interest on loan 400 Sales 2,22,486
Cash in hand 6,100 Purchases return 2,692
Stock 11,678 Discount 880
Motor car 18,000 Bills payable 5,428
Cash at bank 9,110 Rent received 500
Land and Buildings 24,000
Bad debts 1,250
Purchases 1,34,916
Sales return 15,642
Advertisement 4,528
Carriage inward 7,858
Rates, taxes, insurance 7,782
General expenses 8,978
Bills receivable 13,764
Adjustments
1. Depreciation on land and building at @ 5% and Motor vehicle at @ 15%.
2. Interest on loan is @ 5% taken on April 01, 2005.
3. Closing stock was Rs. 13,700.
4. Insurance pre-paid Rs. 350.
DISHA INSTITUTE OF PROFESSIONAL
STUDIES
Date: 11/12/2014 Subject: Accounts Topic: Financial Statements
Q.1 Prepare trading and profit and loss account and balance sheet of M/s Royal
Traders from the following balances as on March 31, 2005. Debit balances
Amount Credit balances Amount
Stock 20,000 Sales 2,45,000
Cash 5,000 Creditors 10,000
Bank 10,000 Bills payable 4,000
Carriage on purchases 1,500 Capital 2,00,000
Purchases 1,90,000
Drawings 9,000
Wages 55,000
Machinery 1,00,000
Debtors 27,000
Postage 300
Sundry expenses 1,700
Rent 4,500
Furniture 35,000
Closing stock Rs.8,000
Q.2 From the following balances of M/s Nilu Sarees as on March 31, 2005. Prepare
trading and profit and loss account and balance sheet as on date.
Account Debit Account Credit
Opening stock 10,000 Sales 2,28,000
Purchases 78,000 Capital 70,000
Carriage inwards 2,500 Interest 7,000
Salaries 30,000 Commission 8,000
Commission 10,000 Creditors 49,330
Wages 11,000 Bills payable 2,370
Rent & taxes 2,800
Repairs 5,000
Telephone expenses 1,400
Legal charges 1,500
Sundry expenses 2,500
cash in hand 12,000
Debtors 30,000
Machinery 60,000
Investments 90,000
Drawings 18,000
Closing stock as on March 31, 2005 Rs.22,000.
Q.3 Prepare the trading and profit and loss account of M/s Roni Plastic Ltd. from
the following trial balance and a balance sheet as at March 31, 2006.
Debit balances Amount Credit balances Amount
Drawings 6,000 Creditors 16,802
Sundry debtors 38,200 Capital 60,000
Carriage outwards 2,808 Loan on mortgage 17,000
Establishment expenses 16,194 Bad debts provision 1,420
Interest on loan 400 Sales 2,22,486
Cash in hand 6,100 Purchases return 2,692
Stock 11,678 Discount 880
Motor car 18,000 Bills payable 5,428
Cash at bank 9,110 Rent received 500
Land and Buildings 24,000
Bad debts 1,250
Purchases 1,34,916
Sales return 15,642
Advertisement 4,528
Carriage inward 7,858
Rates, taxes, insurance 7,782
General expenses 8,978
Bills receivable 13,764
Adjustments
1. Depreciation on land and building at @ 5% and Motor vehicle at @ 15%.
2. Interest on loan is @ 5% taken on April 01, 2005.
3. Closing stock was Rs. 13,700.
4. Insurance pre-paid Rs. 350.
