FINANCIAL AND MANAGEMENT ACCOUNTING PRACTICE QUESTIONS-SET 2

FINAL ACCOUNTS (WITHOUT ADJUSTMENTS) 1. Prepare the Trading A/c, Profit & Loss A/c and a Balance Sheet from the Trial Balance of Shri A. P. Sharma as on 31 st December 1999 Particulars Drawings and Capital Purchases and Sales Returns Debtors and Creditors Stock on 1 st Jan. 1999 Cash Plant Furniture Rent Wages Salaries Office Expenses Insurance TOTAL Closing Stock was valued at Rs. 33,000 2. Prepare the Trading A/c, Profit & Loss A/c and a Balance Sheet from the following Trial Balance as on 31 st December 1999 Particulars Capital Cash in Hand Bank Overdraft Purchases and Sales Returns Office Expenses Taxes and Insurance Discount Debtors and Creditors Commission Investments Stock (Opening) Drawings Furniture Bills Receivable and Payable TOTAL Closing Stock was valued at Rs. 19,000
PREPARED BY: PROF. GAURAV MOGHE

Dr. (Rs.) 6,500 1,51,000 9,000 85,000 35,000 3,000 10,000 1,000 2,200 33,000 8,250 2,200 600 3,46,750

Cr. (Rs.) 45,000 2,30,000 750 71,000

3,46,750

Dr. (Rs.) 1500 12000 1000 2500 500 500 5000 4000 3000 1400 600 3000 35000

Cr. (Rs.) 10,000 2000 15000 2000

1000 500

2500 35000

FINANCIAL AND MANAGEMENT ACCOUNTING PRACTICE QUESTIONS-SET 2

3. Prepare the Trading A/c, Profit & Loss A/c and a Balance Sheet from the following Trial Balance as on 31 st March 1994 Particulars Capital Creditors Bill Payable Sales Loan Debtors Salaries Discount Postage Bad Debts Interest Insurance Machinery Stock (Opening) Purchases Wages Buildings Fixtures and Fittings Value of goods on hand Rs. 14,300 4. Prepare the Trading A/c, Profit & Loss A/c and a Balance Sheet from the following Trial Balance as on 31 st December 1996 Particulars Capital Sales Purchase Returns Discount Received Sundry Creditors Plant and Machinery Purchases Sales Returns Opening Stock Discount Allowed Bank Charges Sundry Debtors Salaries Wages Freight Inward Dr. (Rs.) Cr. (Rs.) 110000 127000 1275 800 25000 Dr. (Rs.) Cr. (Rs.) 36000 8720 2527 78182 22000

3885 4000 1000 273 287 1295 417 10000 19945 62092 4300 23780 16155

90000 58000 1000 40000 350 75 45000 6800 10000 750

PREPARED BY: PROF. GAURAV MOGHE

FINANCIAL AND MANAGEMENT ACCOUNTING PRACTICE QUESTIONS-SET 2

Freight Outward Rent, Rates and Taxes Advertisement Cash at Bank Closing Stock was valued at Rs. 13,262

1200 2000 2000 6900

5. Prepare the Trading A/c, Profit & Loss A/c and a Balance Sheet from the following Trial Balance as on 31 st December 1996 Particulars Capital Stock Bills Payable Creditors Debtors Bills Receivable Purchases Sales Returns Inward Returns Outward Cash in Hand Cash at Bank Machinery Buildings Commission (Cr.) Insurance Postage Discount Salaries Carriage Wages Depreciation Closing Stock was valued at Rs. 17,929 Dr. (Rs.) 3720 4827 7581 8100 3291 10492 12439 1000 1200 400 1900 6710 5290 390 119 132 627 1400 400 1510 600 Cr. (Rs.) 18000

PREPARED BY: PROF. GAURAV MOGHE

FINANCIAL AND MANAGEMENT ACCOUNTING PRACTICE QUESTIONS-SET 2

6. Prepare the Trading A/c, Profit & Loss A/c and a Balance Sheet from the following Trial Balance as on 31 st December 1995 Particulars Furniture and Fittings Bills Receivable Sundry Debtors Cash in Hand Interest Wages Goodwill Carriage Salaries Insurance Opening Stock Audit Fee Capital Commission Sales Returns Outward Bank Overdraft Creditors Law Costs Drawings Purchases Repairs Closing Stock was valued at Rs. 12,560 Dr. (Rs.) 7700 10000 76720 5250 3400 27890 25000 1720 5000 600 38500 1000 Cr. (Rs.)

105000 9000 130000 2570 10000 25320 710 13200 61900 3300

PREPARED BY: PROF. GAURAV MOGHE