Q.1.

You are required to prepare Trading and Profit and loss Account for the
year ended 31.3.2008 and a balance sheet as on that date from the Trial
balance for the year ended 31.3.2008 and adjustments given in respect of
Shania consumers co-operative society, Mumbai.

Trial Balance

Particulars Debit (Rs.) Credit

(Rs.)
Share Capital - 50,000
Calls in arrears 5,000 -
Reserve fund - 7,500
Development fund - 2,500
Opening stock of consumers goods 55,000 -
Furniture 24,000 -
Education fund - 4,000
Creditors for purchase - 10,000
Sundry Debtors 15,000 -
Commission payable - 2,000
Salaries 35,500 -
Commission 8,700 -
Rent & Taxes 10,000 -
Postage 1,350 -
Travelling and conveyance 1,200 -
Printing & Stationery 1,500 -
Dividend paid for 2007-08 4,500 -
Audit Fees 2,000 -
Interest on Investment - 5,000
Profit & loss Appropriation account - 30,000
balance
Equipments 10,000 -
Admission Fees - 250
Purchase 8,00,000 -
Carriage & Coolie Charges 20,000 -
Investments 50,000 -
Sales - 10,30,000
Cash in hand 12,500 -
Cash at bank 85,000 -
Total 11,41,250 11,41,25
0
Adjustments:-

1. Outstanding Rent payable on 31.3.2008 was Rs.500.

2. Outstanding salary payable on 31.3.2008 was Rs.1,000.
3. Of the salaries paid Rs.1,500 was as an advance to employee on 31.3.2008.
4. Interest accrued on investments Rs.1,000.
5. Directors recommend 10% Dividend to its shareholders and transfer of Rs.500 to
Development fund.
6. Charge 5% Depreciation of furniture.
7. Closing stock of consumers goods is valued at cost Rs.70,000.
8. Provide Rs.100 for education Fund.

Q.2.From the following Trial balance and the adjustments given in respect of
Mittal Consumers Co-operative Society, Malkapur, prepare the Final Accounts
for the year ended 31.3.2008.

Trial Balance as on 31.3.2008

 Particulars Debit Credit
(Rs.) (Rs.)
Opening Stock of Furniture and Machinery 10,000 -
Share Capital - 75,000
Deposits from Members - 90,000
Printing and Stationery 3,000 -
Investment in shares of District co-operative bank 60,000 -
Investment in shares of co-operative Purchase and 36,000 -
Sales Society
Loan from Bank (Unsecured) - 92,000
Loan to Members 1,35,00 -
0
Interest Earned on loan given to member - 45,000
Purchase of Fertilizers and Machinery 3,70,00 -
0
Sales of Fertilisers and Machinery - 4,50,000
Office Equipment 25,000 -
Office Rent 5000 -
Salaries 25000 -
Travelling Expenses 5000 -
Carriage Inward 3500 -
Freight 1500 -
Interest Paid 8000 -
Reserve Fund - 1,86,000
Cash in hand 51,000 -
Cash at Bank 2,00,00 -
0
Total 9,38,00 9,38,00
0 0
Adjustments:
1. Closing Stock of Fertilisers and Machinery as on 31.3.2008 was Rs 70,000.
2. Outstanding office rent Rs. 1,000.
3. Office Equipments are to be depreciated @5%.
4. Audit Fees are to be paid of Rs. 6,500.
5. Directors recommend a dividend to Members @ 10%.
6. Contribute to Education Fund Rs. 100.

Q3.From the following Trial Balance for the year ended 31.3.2008 and the
adjustments in respect of Kumar Consumers Co-operative Society, Vashi,
Prepare the Final Accounts for the year ended 31.3.2008.

Trial Balance

Particulars Debit Credit

(Rs.) (Rs.)
Share Capital - 8,00,000

Reserve Fund - 2,00,000

Purchases 12,00,0 -
00
Stock in 1st April,2007 -
2,00,00
Carriage Inward -
0
Salaries and Allowances to Staff -
10,000
Building Fund 1,40,000
1,40,00
Share Capital Redemption Fund 0 25,000

Contribution to Staff provident fund - -

Staff Provident Fund - 34,000

Sales 10,000 16,00,00

0
Bad Debts -
-
Reserve for Bad and Doubtful Debts -
20,000
Postage 8,000
-
Machinery at Cost -
-
Travelling Expenses 6,000
-
Bonus to Employees 28,000
-
Printing and Stationery 10,000
-
Insurance 10,000
-
Building (at Cost) 3,500
-
Furniture (at Cost) 11,000
-
Depreciation Fund 6,00,00
0 90,000
Sundry Debtors
1,00,00 -
Sundry Creditors
0
25,000
Investment in shares of co-operative -
Societies -
2,00,00
Staff Provident Fund Investment -
0
Fixed Deposit with District Central Co-op -
-
Bank
-
1,20,00
Sundry Expenses
0 -
Repairs to Building 34,000 16,000
Interest on Fixed Deposit
1,60,00 12,000
Dividend Received on Shares 0
5,000
Transfer Fees 10,000
20,000
Profit and Loss Appropriation a/c balance 20,000
-
of last year
-
-
Cash at Bank -
Cash in hand
-

1,00,00
0
 6,500
Total 29,87,0 29,87,0
00 00

Adjustments:
1. Closing Stock on 31.3.2008 was Rs.3,20,000.
2. Salaries unpaid on 31.2.2008 were Rs.8,000.
3. Prepaid Insurance is Rs.1,500.
4. Provide Reserve for Bad and Doubtful Debts @ 5%.
5. Provide Depreciation for the year as shown below:
6. Transfer to Education fund Rs.100.
7. Audit Fees are Outstanding for the year Rs.5,000.
8. Provide for Share Capital Redemption fund Rs.3,000.
9. Directors recommend Dividend to members @ 10 %.

Q4.Following is the Trial Balance of Omtex Consumers Co-operative Society Ltd.

for the year ended 31.3.2008.You are required to prepare trading and Profit
and Loss Account for the year ended 31.3.2008 and a Balance Sheet as on that
date.
Trial Balance

Debit Balance Rs. Credit Balance Rs.

Interest Paid 2,800 Sales 2,00,0
00
Bank Charges 200 Share Transfer Fees
100
Salaries 18,000 Dividend
2,000
Contribution to staff Provident 1,000 Interest on Investment
Fund 1,800
250 Bank Interest
Travelling Expenses 7,000
2,250 Commission
Rent, Rates and Taxes 6,500
1,150 Sale of Forms
Postage 500
1,200 Share Capital
Printing and stationery 50,000
500 Reserve Fund
Audit Fees 10,000
1,100 Share Capital
General Expenses Redemption fund 5,000
500
Bad Debts Education Fund 500
2,000
Bonus to Employees Staff Provident Fund 4,000
10,000
Opening Stock Depreciation Fund 8,000
1,10,0
Purchases 00 Building Fund 5,000

Carriage & Freight 1,000 Bad Debts Reserve 2,000

Investment in Government 13,000 Loans from Bank 12,000

Securities
12,000 Loans from government 12,000
Investment in Shares of Co-op
4,000 Sundry Creditors 13,600
Societies
28,000
Investment to Staff Provident
Fund 42,000
 Sundry Debtors 18,000

Buildings 1,700

Furniture and Fittings 1,300

Insurance 28,000

Repairs 5,050

Freehold Land 35,000

Cash in hand

Cash at Bank

Total 3,40,0 Total 3,40,0

00 00

Adjustments:
1. Closing Stock Valued at Rs.25,000.
2. Outstanding Expenses:
Items Rs
.
Rent 25
0
Interes 20
t 0
3. Contribution to Education Fund Rs.100.
4. Provide for Contribution to Share Capital Redemption Fund Rs.1,000.
5. Insurance Paid in advance Rs.200.
6. Interest accrued in Investment but not received Rs.200.
7. Create Bad Debts Reserve of Rs.3,000.
8. Provide Depreciation on Building at 5 % and on furniture and Fittings at 5%.
9. Directors recommend Dividend of 10%.

Q5.From the following Trial Balance of Shrines Co-operative Purchase and sales
Society Ltd. as on 31.3.2008: Prepare Trading and Profit and Loss Account for
the year ended 31.3.2008 and Balance sheet as on that date after Considering
the adjustments thereafter.

Trial balance as on 31.3.2008

Particulars Debit Credit

(Rs.) (Rs.)
 Share Capital - 3,36,000

Reserve Fund - 60,000

Creditors - 40,000

Profit and Loss Account - 1,76,000

1.4.2007
3,92,00 -
Opening Stock 0
-
Furniture and Equipment 1,24,00
-
0
Container Deposit
-
32,000
Salaries
-
3,00,00
Sundry Debtors 0 -
Commission
60,000 -
Rent and Taxes 88,000 -
Postage
60,000 -
Travelling and Conveyance 8,000 -
Printing and Stationery
18,000 2,000
Admission Fees 14,000 -
Purchases
- -
Collie Charges, Freight and 63,40,0 -
Cartage
00
76,20,00
Investment 1,60,00 0
Sales 0
-
Cash in hand 2,40,00
0 -
Bank Balance
- 8,000
Development Fund
6,000

4,00,00
0

-
Total 82,42,0 82,42,0
00 00

Adjustments:
1. Closing Stock is valued at Rs.4,40,000.
2. Outstanding Rent Rs.4,000 and Commission Payable Rs.20,000.
3. Rs.8,000 Salary was paid as advance as on 31.3.2008.
4. Accrued Income on Investment Rs.20,000.
5. Provide 10% Depreciation on Furniture and equipments.

Q6. From the following Trial Balance of Katrina Co-operative Society Ltd.
Mumbai as on 31.3.2008, Prepare Trading and Profit and Loss Account for the
year ended on 31.3.2008 and Balance Sheet as on that date after considering
the adjustments given.
Trial Balance
Particulars Debit Credit
(Rs.) (Rs.)
Share Capital - 1,60,000

Calls in Arrears 10,000 -

Reserve Fund - 15,000

Common Goods Fund - 5,000

Opening Stock of 1,10,00 -

Consumer’s Goods 0
-
Furniture 48,000
8,000
Education Fund -
20,000
Sundry Creditors -
-
Sundry Debtors 30,000
4,000
Commission Payable -
-
Salaries 71,000
-
Commission 17,400
-
Rent, Rates and Taxes 20,000
-
Postage 12,100
-
Land 9,000
10,000
Interest on Investment -
-
Equipment 20,000
-
Purchases 16,40,0
-
00
Investment
20,60,50
1,00,00
Sales 0
0
Cash in hand -
-
Cash at Bank -
25,000

1,70,00
0
Total 22,82,5 22,82,5
00 00
Adjustment:
1. Outstanding rent payable on 31.3.2004 was Rs.1,000.
2. Charge 5% depreciation on furniture.
3. Closing Stock of consumer’s goods is valued at cost Rs.1,40,000.
4. Interest accrued on Investment Rs.2,000.
5. Outstanding salary on 31st March, 2008 was Rs.2,000 & Rs.3,000 paid in advance.
6. Authorised capital 20,000 shares of Rs.10 each.
Q7.Shahrukh Co-operative Society rendering Loans and Rationing facilities to
its members has the Trial Balance as on 31.3.2008 as follows:
Trial Balance
Name of Accounts Debit Credit
(Rs.) (Rs.)
Member Share capital - 14,100

Member’s Deposit - 30,000

Dead stock 7,000 -

Printing & Stationery 750 -

Bank Share Purchased 5,000 -

Sahakari Sangh share 2,000 -

Purchased
- 31,000
Bank Loan (simple)
83,250 -
Member’s Loan
- 53,150
Interest on Member’s
1,20,00 -
Loan
0
1,27,500
Purchase of Rationing
-
Grains -
9,000
Sale of Rationing Grains -
10,550
Office Rent -
1,250
Salaries -
1,300
Travelling Expenses -
900
Freight -
33,500
Coolie Charges -
26,250
Bank Current Account 45,100
-
Bank Interest -
100
Reserve and Other Funds

Cash balance
Total 3,00,85 3,00,85
0 0
Adjustments:
1. Closing Stock of Rationing Grains on 31.3.2008 was Rs.35,000.
2. Outstanding Office Rent is Rs.1,000.
3. Provide for Audit Fees due Rs.600.
4. Provide Depreciation on Deadstock at 5%.
5 Provide Bad debts Reserve Rs.1,500.

You are required to prepare Trading, Profit and Loss Account for the year ending on
31.3.2008 and Balance Sheet as on that date.

Q8.Following is the Trial Balance of G. Consumers Co-operative Society as on

31-03-08.
 Trial Balance
Particulars Debit Credit
(Rs.) (Rs.)
Share Capital - 80,000

Deposits from - 50,000

Members
- 12,50,00
Sales 0
-
Purchase Returns 5,000
-
Suppliers 10,000
-
Interest on 12,000
-
Investment
3,000
-
Rebate Received
4,000
-
Common Good
8,000
Fund -
20,000
Price Fluctuation 400
Fund -
86,000
Reserve Fund -
6,000
Cash in hand -
10,05,0
Cash at Bank 00 -
Furniture 30,000 -
Purchases 5,000 -
Customers 2,000 -
Carriage Inward 10,000 -
Sales Return 2,000 -
Rent 3,000 -
Audit Fees 50,000 -
Sales tax 10,000 -
Staff Salary 2,00,00 -
0
Printing & -
Stationery 30,000
-
Investment 2,600
Stock in Trade

Interest Paid
Total 14,42,0 14,42,0
00 00

Adjustments:
1. Value of Closing Stock on 31.3.2008 was Rs.60,000.
2. Depreciation on Furniture @ 10% p.a.
3. Interest accrued on Deposits Rs.1,500 & Interest accrued on Investment Rs.6,000.
4. Outstanding Salary of Rs.3,000.
5. Outstanding Sales Tax of Rs.1,000.
You are required to Prepare Trading and Profit & Loss Account and Balance Sheet
as on 31.3.2008.
Q9.Following is the Trial Balance of Venkatesh Consumers co-operative Society
as on 31.3.2008

Trial Balance
Particulars Debit Credit
(Rs.) (Rs.)
Share Capital - 15,000

Deposits from Members - 30,000

Dead stock 7,000 -

Printing & Stationery 1,000 -

Investment in DCC Bank 25,000 -

Investment in Shares of Sadhana Co- 12,000 -

op Society
- 31,000
Loans from Bank
45,000 -
Loans to Members
- 15,000
Interest on Members Loan
1,20,00 -
Purchase of Fertilizers and Machinery 0
1,50,000
Sales of Fertilizers and Machinery -
-
Office Rent 9,000
-
Office Salary 8,000
-
Travelling Expenses 1,500
-
Carriage Inward 1,300
-
Freight Charges 1,900
-
Bank Current Account 45,600
-
Bank Interest 8,300
59,000
Reserve Fund -
-
Cash in Hand 4,400
-
Bank saving Account 10,000
Total 3,00,00 3,00,00
0 0

Adjustments:
1. Closing Stock of Fertilizers and Machinery as on 31.3.2008 was Rs.20,000.
2. Outstanding Office rent Rs.3,000.
3. Provide Depreciation @ 5% on Dead Stock.
4. Create Provision for Bad and Doubtful Debts Rs.1,500.
5. Provide for Audit Fees Rs.600.
You are required to prepare Trading and Profit & Loss Account for the year ending
as on 31.3.2008 and Balance Sheet as on that date.
Q10.The following Information is Supplied to you in connection with M.I.G. Co-
operative Society,Bandra.
Prepare Final Accounts.

Balance Sheet as on 31.3.2007

Liabilities Amount Assets Amount
(Rs.) (Rs.)
Share Capital 25,000 Cash in hand 250

Reserve Fund 2,500 Bank Current 1,600

Accounts
Dividend Equalisation 1,000 150
Fund Shares in HDFC
13,500 57,000
Bank
Members Deposits
25,500 5,000
Members Loans
Loans From SBI
500 10,000
Furniture &
Salary Payable
6,000 Fixtures
Profit and Loss Accounts
Fixed deposits
Balance

74,000 74,000

Receipts and Payment A/c for the year ended 31.3.2008

Receipts Amount Payments Amount
(Rs.) (Rs.)
Balance (1.4.2007) Bank Current A/c 12,600

Cash 250 Bank Loans 14,000

Bank Current A/c 15,500 Share Capital 700

Loans from Dena 25,000 Furniture & Fixtures 1,000

Bank
2,500 Godrej Typewriter 4,000
Share Capital
4,000 Members Deposits 500
Deposits from
4,500 Staff salaries 2,000
Members
100 Printing & Stationery 500
Members Short Term
Loans 350 Rent & Taxes 1,000
Entry Fees 13,500 Travelling Expenses 1,100
Commission 1,000 Allowance 1,500
Interest on Loans 50 Interest on Bank Loan 1,250
Interest on Fixed Members Short Term 18,500
Deposits Loans
250
Dividend Audit Fees
7,850
Balance
Total 66,750 66,750

Adjustments:
1. Salaries payable Rs.600.
2. Provide depreciation @ 10% of Furniture and Fixtures and Typewriter
3. Interest on loans to members is receivable Rs.2,100.
4. Directors recommended dividend of 10%.

Q11.From the following Trial Balance of Soya Credit Co-operative Society,

Nariman Point, Prepare Final Account for the year ended 31st March 2008.
Trial Balance
Particulars Amount Particulars Amount
(Rs.) (Rs.)
Loans to Members 7,00,000 Share Capital 2,00,000

Contribution to Provident 480 Reserve Fund 18,000

Fund
1,040 Members Deposits 5,40,000
Insurance
3,420 Unpaid Dividend 400
Conveyance
960 Staff Provident 4,800
Printing and Stationery Fund
12,000 7,000
Salary of MD Profit and Loss
27,200 86,000
2006-07
Staff Salary
1,920 800
Interest
Interest on Loan
19,200 640
Renewal Fees
Interest on Deposits
1,680 4,000
Sundry Income
Furniture
60,000 1,200
Development Fund
Fixed deposits with other
4,360
Bank Education Fund
30,580
Cash

Bank
Total 8,62,840 8,62,840

Adjustments:
1. Interest due on members Deposits Rs.2,000.
2. Interest due but not received Rs.4,800.
3. Salary due Rs.1,200.
4. Audit Fees due Rs.800.
5. Depreciate Furniture by Rs.5,000.
6. Directors propose to pay dividend of 5%.
7. Transfer Rs.100 to Education Fund and Rs.2,000 to Dividend Equalisation Fund.
8. Appropriations out of profits of the year 2006-07 were approved as follows:
Reserve Fund Rs.2,000
Dividend Rs.2,000.
Q12.You are required to prepare Profit and Loss of the year ended 31.3.2008
and a Balance Sheet as on that date from the following trial Balance of Shruti
Co-operative Credit Society as on 31.3.2008 and other information given:
Trial Balance

Particulars Debit Particulars Credit

(Rs.) (Rs.)
Cash in hand 350 Share Capital 3,75,000

Cash at Bank 7,000 Reserve Fund 25,000

Fixed Deposits with Maharashtra 77,500 Members Deposits 11,23,87

State Co-op. Bank 5
3,500 Unpaid Dividend
Furniture 1,050
40,000 Dividend Equalisation
Interest on Deposits Reserve 9,000
4,000
Interest due on Loans Staff Provident Fund 10,000
15,000
Salaries Profit and Loss Appropriation 15,500
2,500
a/c Balance
Office Rent
200 Interest
Printing and Stationery 89,000
300
Renewal Fees
Travelling Expense 2,000
500 Miscellaneous Income
Insurance Premium 150
1,000
Co-operative development
Contribution to Provident Fund 1,025
15,00,0 Fund
Loan due from Members 00 250
Education Fund

Total 16,51,8 16,51,8

50 50

Additional Information:
1. Interest accrued on members deposits of Rs.2,500.
2. Interest accrued but not received Rs.1,000.
3. Addition to Furniture during the year Rs.500.
4. Provide Depreciation @ 10% on closing balance of Furniture.
5. Outstanding salary Rs.150.
6. Advance Salary Rs.250.
7. Audit Fees due Rs.1,500.
8. Authorised Capital; 50,000 shares of Rs.10 each.
9. Directors have recommended the following appropriations:
a) Dividend to shareholders of 5%.
b) Required amount to Reserve Fund.
c) Transfer to Co-operative Development Fund @ 5% of Net Profit after
contributing to Reserve Fund.
d) Transfer to Dividend Equalisation Reserve Rs.1,000.
e) Addition to Building Fund Rs.5,000.