Final Account

1.

From the following information of Anup and Sons, prepare the Trading & Profit loss Account and Balance st Sheet as on 31  December 2009 Debit Balance

Amount

Machinery Cash at bank Cash in hand Wages Purchases st Stock on 1  January 2009 Sundry Debtor Bills Receivable Rent Commission General Expenses Salaries

5000 1500 500 1000 9000 6000 4400 2900 450 250 800 500 Total

Credit Balance

Amount

Capital Sales Sundry Creditor Interest Received

32,300

10000 17000 5000 300

Total

32,300

Additional Information:

a)  b) c) d) e) 2.

Provide interest on Capital @ 5% per annum. Depreciate machinery at 10% per annum Rs. 600/- is outstanding towards wages Rs. 800/- paid towards rent in advance st Stock as on 31  December 2009 is Rs. 9000/-

The following is the trial balance of Anoop Trading Co. Prepare the Trading & Profit Loss Account for the year st st ending 31  December 2011and Balance Sheet as o n 31  December 2011. (40 Marks) Trial Balance Debit Balance

Amount

Credit Balance

Amount

Rs

Machinery Cash at bank Cash in hand Wages Purchases Sales return st Stock on 1  January 2011 Sundry Debtor Bills Receivable Bad debts Rent Commission General Expenses Salaries

700000 600000 5000 100000 900000 10000 200000 700000 390000 3000 87000 25000 50000 250000 Total

4020,000

Additional Information:

a.  b. c.

Provide interest on Capital @ 5% per annum. Depreciate machinery at 10% per annum Rs. 5000/- is outstanding towards wages

Rs

Capital Sales Purchase return Sundry Creditor Reserve for bad and doubtful debts Interest Received

Total

1500000 2000000 25000 450000 5000 40000

4020,000

d. e. f.

Rs. 7000/- paid towards rent in advance Provide for Rs.4000/- as bad debts on sundry debtors Provide 2% for bad and doubtful debts on Sundry Debtors

g.

Stock as on 31  December 2011 is Rs. 80000/-

st