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19.10                                                  Double Entry Book Keeping—CBSE XI

                      4.  (With GST). From the following balances extracted from the books of Amit, prepare
                        Trading and Profit & Loss Account for the year ended 31st March, 2024 and Balance
                        Sheet as at that date after taking into consideration the adjustments given below:


                                                TRIAL BALANCE as at 31st March, 2024
                     Particulars                                                         Dr. (`)   Cr. (`)
                     Capital               ............................................................................................................................  ...  60,000
                     Drawings              ............................................................................................................................  7,500  ...
                     Purchases             ............................................................................................................................  72,100  ...
                     Sales                 ............................................................................................................................  ...  95,000
                     Returns               ............................................................................................................................  1,300  2,700
                     Sundry Debtors        ............................................................................................................................  18,200  ...
                     Creditors             ............................................................................................................................  ...  58,750
                     Opening Stock         ............................................................................................................................  19,800  ...
                     Bad Debts             ............................................................................................................................  3,000  ...
                     Cash in Hand          ............................................................................................................................  12,300  ...
                     Office Expenses       ............................................................................................................................  6,210  ...
                     Delivery Van          ............................................................................................................................  15,000  ...
                     Delivery Van Expenses    ............................................................................................................................  1,400  ...
                     Discount              ............................................................................................................................  ...  2,910
                     Rent                  ............................................................................................................................  10,700  ...
                     Telephone Charges     ............................................................................................................................  1,050  ...
                     Postage Expenses      ............................................................................................................................  950  ...
                     Furniture             ............................................................................................................................  5,000  ...
                     Printing and Stationery    ............................................................................................................................  2,750  ...
                     Commission            ............................................................................................................................  8,400  ...
                     Carriage Inwards      ............................................................................................................................  3,200  ...
                     Salaries and Wages    ............................................................................................................................  20,500  ...
                     Input IGST            ............................................................................................................................  10,000  ...

                     Total                                                              2,19,360   2,19,360

                     Adjustments:
                       (i)  Closing Stock was valued at ` 61,700.
                      (ii)  Depreciate Furniture and Machinery @ 10% p.a. and Delivery Van @ 20% p.a.
                      (iii)  Outstanding Rent amounted to ` 900 subject to CGST and SGST @ 6% each.

                      (iv)  Bad Debts ` 200.
                       (v)  Charge 1/4th of Salaries and Wages to the Trading Account.
                      (vi)  A new machinery was purchased on credit and installed on 31st December, 2023
                          costing ` 15,000 plus IGST @ 12%. Entry for the purchase is not yet passed in
                          the books.
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