Q 14 Prepare the trading and profit and loss account for the year ended 31 march 2015and balance sheet after
taking of following adjustment
Stock
25000
Sales
2,27,800
Furniture
8000
commission
500
Plant and machinery 1,40,000
Return outward
1000
Addition to plant and machinery(1.10.14)10000
Creditors
40000
Debtors
30000
Capital
1,50,000
Wages 12000
Salaries 20000
Bad debts 1000
Purchase 120000
Electricity charges 1200
Telephone exp 2400
General exp
3000
Postage and telegram 1800
Return inward
900
Insurance premium 1500
Cash in hand
2500
Cash at bank
40000
Total
4,19,300
4,19,300
Following adjustment
Closing stock 7000
Outstanding wages 600 and salaries 1400
A) Depreciation is to be provided @5 % p.a,on all fixed asset
B) Insurance premium paid in advance 200
Q 15 Journalize the following transaction and Prepare Ledger for the above journal entries
2013
April 1
April 2
April 3
April 4
April 13
April 20
April 24
April 28
April 30
1, 00,000
70,000
5,000
1,000
1,500
2,250
15,000
4,000
3,000