Page 193 - ISCDEBK-XI

20.26 Double Entry Book Keeping—ISC XI

BALANCE SHEET OF RAMESH as at 31st March, 2022
Liabilities ` Assets `
Capital 1,90,000 Land and Building 1,20,000
Add: Net Profit 39,000 Machinery 70,000
2,29,000 Less: Depreciation 3,500 66,500
Less: Drawings 5,000 2,24,000 Furniture 20,000
Creditors 40,000 Add: Transfer from Purchases 5,000
Wages Payable 2,000 25,000
Bank Overdraft 40,000 Less: Depreciation 2,500 22,500
Add: Dishonour of Cheque 8,000 48,000 Loan to Ashok 20,000
Bills Receivable 10,000
Trademark 8,000
Debtors 35,000
Less: Sale on Approval 5,000
30,000
Further Bad Debts 2,000
28,000
Add: Cheque Dishonour 8,000
36,000
Less: Provision
for Doubtful Debts 3,600 32,400
Accrued Interest 600
Closing Stock 30,000
Stock with customers on Approval 4,000
3,14,000 3,14,000
Illustration 13.
From the following Trial Balance and additional information, prepare the Trading and Profit &
Loss Account of Mukul for the year ended 31st March, 2022 and Balance Sheet as at that date:
Particulars Dr. (`) Cr. (`)
Drawings.......................................................................................................................................................................... 10,000 ...
Capital ........................................................................................................................................................................... ... 1,70,000
Plant and Machinery ................................................................................................................................................... 1,10,000 ...
Sales .................................................................................................................................................................................. ... 1,65,000
Purchases ........................................................................................................................................................................ 84,000 ...

Sales Return .................................................................................................................................................................... 5,000 ...
Purchases Return .......................................................................................................................................................... ... 4,000
Bad Debts ........................................................................................................................................................................ 5,000 ...
Bad Debts Recovered .................................................................................................................................................. ... 26,450
Freight Inwards ............................................................................................................................................................. 5,000 ...
Freight Outwards .......................................................................................................................................................... 7,000 ...
Discount ........................................................................................................................................................................... 2,000 1,000
Commission .................................................................................................................................................................... 4,000 3,000
Rent ................................................................................................................................................................................... 3,000 4,000
Interest ........................................................................................................................................................................... 2,500 3,000
Office and Administrative Expenses ...................................................................................................................... 6,000 ...
Selling and Distribution Expenses ......................................................................................................................... 10,000 ...
Creditors .......................................................................................................................................................................... ... 2,02,000
Debtors ........................................................................................................................................................................... 2,15,000 ...
Bills Payable .................................................................................................................................................................... ... 5,600
Bills Receivable .............................................................................................................................................................. 10,000 ...
Loan Given ...................................................................................................................................................................... 20,000 ...
Loans Taken .................................................................................................................................................................... ... 50,000
Investments .................................................................................................................................................................... 50,000 ...
Opening stock ............................................................................................................................................................... 54,000 ...
Cash in hand ................................................................................................................................................................... 5,000 ...
Cash at Dena Bank ....................................................................................................................................................... 45,550 ...
Bank overdraft at Canara Bank ................................................................................................................................ ... 20,000
Wages and Salaries ...................................................................................................................................................... 1,000 ...
Total 6,54,050 6,54,050