Page 191 - ISCDEBK-XI

20.24 Double Entry Book Keeping—ISC XI

BALANCE SHEET OF SAMAR as at 31st March, 2022

Liabilities ` Assets `
Capital 14,43,000 Furniture and Fittings 1,10,000
Add: Net Profit 10,375 Add: Addition during the year 50,000
14,53,375 1,60,000
Less: Drawings Less: Depreciation 16,000 1,44,000
(` 20,000 + ` 25,000) 45,000 Motor Car 2,40,000
14,08,375 Less: Depreciation 48,000 1,92,000
Less: Printing and Stationery Closing Stock 7,25,000
of Last Year 55,000 13,53,375 Add: Stock on Approval Basis 50,000 7,75,000
Salesmen’s Commission Outstanding 8,125 Sundry Debtors 5,00,000
Sundry Creditors 2,00,000 Less: Goods sent on Approval Basis 75,000
4,25,000
Less: Bad Debts 25,000
4,00,000
Less: Provision for Doubtful Debts 20,000 3,80,000
Cash at Bank 60,000
Cash in Hand 10,500
15,61,500 15,61,500

Illustration 12.
Given below is the Trial Balance of Ramesh as on 31st March, 2022:
Particulars Dr. (`) Cr. (`)
Land and Building ........................................................................................................................................................ 1,20,000 ...
Office Machinery .......................................................................................................................................................... 70,000 ...
Furniture and Fittings ................................................................................................................................................. 20,000 ...
Stock on 1st April, 2021 .............................................................................................................................................. 16,000 ...
Purchases ........................................................................................................................................................................ 90,000 ...
Sales .................................................................................................................................................................................. ... 2,20,000
Salaries ............................................................................................................................................................................. 20,000 ...
Bad Debts ........................................................................................................................................................................ 10,000 ...
Debtors ............................................................................................................................................................................ 35,000 ...
Creditors .......................................................................................................................................................................... ... 40,000
Sales Return .................................................................................................................................................................... 10,000 ...
Rent ................................................................................................................................................................................... 15,000 ...
Advertisement ............................................................................................................................................................... 18,000 ...
Drawings.......................................................................................................................................................................... 5,000 ...
Loan to Ashok @ 16% p.a. on 1st October, 2021 ............................................................................................... 20,000 ...
Wages ............................................................................................................................................................................... 33,000 ...
Interest on Loan to Ashok ......................................................................................................................................... ... 1,000
Bills Receivable .............................................................................................................................................................. 10,000 ...
Trademark ....................................................................................................................................................................... 8,000 ...
Provision for Doubtful Debts ................................................................................................................................... ... 8,000
Discount ........................................................................................................................................................................... 1,000 ...
Wages Payable ............................................................................................................................................................... ... 2,000
Capital............................................................................................................................................................................... ... 1,90,000
Bank Overdraft .............................................................................................................................................................. ... 40,000
Total 5,01,000 5,01,000