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Balance sheet as on _____

Liabilities Amount Assets Amount

Share Capital xxx Goodwill xxx
Less: Drawings (xxx) Patents xxx
Less: Interest on Drawings (xxx) Copyrights xxx
Add: Interest on Capital xxx Trademarks xxx
Add: Net Profit xxx Land and Building xxx
Less: Net Loss (xxx) xxx Plant and Machinery xxx
Bank Loan xxx Furniture and Fixtures xxx
Debentures xxx Equipments xxx
Other loans and advances taken xxx Loose tools xxx
Sundry Creditors xxx Vehicles xxx
Bills Payable xxx Computer xxx
Bank Overdraft xxx Investment xxx
Outstanding expenses Xxx Sundry Debtors xxx
Pre-received Income xxx Bills Receivable xxx
Stock xxx
Cash xxx
Bank xxx
Prepaid expenses xxx
Outstanding Income xxx
Loans and advances given xxx

xxx xxx

1. Prepare a Trading Account for the year ended 31st December 2010 from the
following balances:
Rs. Rs.
Opening Stock 4,00,000 Purchases Return 1,20,000
Purchases 20,00,000 Sales Return 2,00,000
Sales 50,00,000 Carriage on Purchase 80,000
Freight and Octroi 65,000 Carriage on sales 1,00,000
Wages 3,00,000 Factory Rent 1,20,000
Factory Lighting 1,08,000 Office Rent 75,000
Coal, Gas and Water 22,000 Import Duty 3,20,000

Closing Stock is valued at Rs. 6,00,000.

2. From the following particulars, prepare a Profit & Loss Account for the year ending
31 December, 2010.
Particulars Rs. Particulars Rs.
Gross Profit 21,05,000 Discount allowed 30,000
Trade Expenses 20,000 Lighting 7,800
Carriage on Sales 1,00,000 Commission Received 8,400
Office Salaries 1,58,000 Bad-debts 12,000
Postage and Telegram 7,200 Discount (Cr.) 6,000
Office Rent 75,00 Interest on Loan 22,000
Legal Charges 4,000 Stable Expenses 14,000
Audit Fee 16,000 Export Duty 23,000
Travelling Expenses 25,000 Miscellaneous Receipts 5,000
Sundry Expenses 3,600 Unproductive Expenses 41,000
Selling Expenses 53,200

3. From the following balances of Siya Ram, Prepare a Balance Sheet as on

31st December, 2010.
Particulars Amount (Dr.) Amount (Cr.)
Plant and machinery 8,00,000
Land and Building 6,00,000
Furniture 1,50,000
Cash in Hand 20,000
Bank Overdraft 1,80,000
Debtors and Creditors 3,20,000 2,40,000
Bills Receivable and Bill Payable 1,00,000 60,000
Closing Stock 4,00,000
Investments (Short-term) 80,000
Capital 15,00,000
Drawings 1,30,000
Net Profit 6,20,000
26,00,0000 26,00,0000
4. From the following Trial Balance of Radhe Shyam Trading and Profit and Loss A/c for the
year ending 31st December, 2010 and Balance Sheet as on that date. The Closing Stock on
31st December, 2010 was valued at Rs. 2,50,000.
Debit Balances Amount Credit Balance Amount
(Rs.) (Rs.)
Stock (1-1-2010) 2,00,000 Sundry Creditors 1,50,000
Purchases 7,50,000 Purchases Return 30,000
Sales Return 80,000 Sales 25,00,000
Freight and Carriage 75,000 Commission 33,000
Wages 3,65,000 Capital 17,00,000
Salaries 1,20,000 Interest on Bank Deposit 20,000
Repairs 12,000 B/P 62,000
Trade Expenses 40,000
Rent and Taxes 2,40,000
Cash in Hand 57,000
B/R 40,000
Plant and Machinery 16,00,000
Withdrawals (Drawings) 1,66,000
Bank Deposit 2,00,000
44,95,000 44,95,000