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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.