Prepare final accounts from the following trial balance

and other adjustments.

particulars Debit Credit

Machinery 78000 -
furniture 2000 -
capital - 100000
Purchases and 60000 127000
sales
Return 1000 750
stock 30000 -
Discount 425 800
Debtors and 45000 25000
creditors
Salaries 7550 -
wages 10000 -
Carriage 1200 -
outwards
Provisions for - 525
bad bedts
Rent 10000 -
Advertisement 2000 -
Cash 6900 -
254075 254075
Adjustments
1.Closing stock-34220
2.provision for bad debts is to be kept at Rs.500

3.allow interest on capital at 10% p.a

4.depreciate machinery by 10% and furniture by 5%

5.outstanding salary Rs.550

Question 2.

From the following trial balances and other adjustments prepare

final accounts as on 31-12-08

particulars Debit credit

Drawings and capital 6000 75000
purchases 225000 420750
stock 45000 -
Plant and machinery 75000 -
Trade expenses 10000 -
Carriage inwards 2500 -
Carriage outwards 1500 -
discount 350 -
Factory rent 1500 -
insurance 700 -
Debtors and creditors 60000 15000
Office rent 3000 -
Bad debts provisions - 200
stationery 600 -
General expenses 2800 -
advertising 15000 -
Bills receivables and 3000 2000
bills payable
salaries 18000 -
wages 20000 -
furniture 7500 -
Coal and gas 1000 -
cash 14500 -
512950 512950
Adjustments:

1.Closing stock amounted to Rs.35000

2.Plant and machinery depreciated by 10%and furniture at 5%

3.Bad debts reserve to be raised to 2.5%on debtors

4.outstanding factory rent Rs.300 and office rent Rs.600

5.Insurance included Rs.100 in respect of 2008

Question 3.

Following trial balances was extracted from the books of shri

V.Balakrishna as on 31 march 2015

particulars debit credit

Plant and machinery 20000 -
Manufacturing wages 34500 -
salaries 15850 -
furniture 10000 -
Freight on purchases 1860 -
Freight on sales 2140 -
buildings 24000 -
Manufacturing 9500 -
expenses
Insurance and tax 4250 -
goodwill 25000 -
General expenses 8200 -
Factory fuel and 1280 -
power
Sundry debtors 78200 -
Factory lighting 950 --
Opening stock 34200 -
Motor car 12000 -
Purchases 102000 -
Sales return 3100 -
Bad debts 1400 -
Interest and bank 400 -
charges
Cash at bank 4200 -
Cash in hand 1120 -
Capital account - 80000
Sundry creditors - 44560
Bank loan - 15000
Purchases return - 1740
Sales - 250850
Provisions for bad - 2000
debts

Prepare trading and profit and loss account for the year ended 31st
march,2015 and the balance sheet as on that date taking into
consideration the following information:

1.stock in hand on 31st march,2015was valued at Rs.30500

2.depreciate plant and machinery by 10%,furniture by 5%,and motor

car by Rs.1000

3.bring provision for bad debts to5% on sundry debtors

4.A commission of 1% on the gross profit is to be provided for works

manager.

5.A commission of 2% on net profit(after charging the works

managers commission)is to be credited to the general manager.

Question 4.
Following information is given to you from the books of a
manufacturer in respect of the year ended 31st march,2015

particulars Amount Particulars Amount

Stock of raw 25000 Electricity and 6000
material(1-4-14 telephone
Freight inward 8500 Selling expense 6000
Freight 6000 Miscellaneous 14000
outward expenses
Wages-direct 18000 Stock of raw 22000
material(31-3-
2015)
Wages-indirect 14000 Stock of
finished good
Opening 30000
Closing 40000
Sales 418000 Provisions for 8500
doubtful debt
Stationery 1500 Depreciation on 4000
plant
Travelling 5000 Depreciation on 3000
expenses office furniture
and equipment
Salaries(H.O) 26000 Repairs to plant 4650
and machinery
Factory exp 26000 Scrap sales 3700
Interest on loan 1800 Purchases of 250000
paid raw material
Returns-inward 5000
Return-outward 3500
Power and fuel 8000
Coal consumed 9000
Work-in- 7000
progres(1-4-14)
Work-in 4000
progress(31-3-
2015)
Bank interest 2600
received

Adjustments

1.finished goods worth Rs.5000 were distributed as free samples

2.A loan was obtained on 1st October,2014for 50000 carrying interest

at 10%p.a

3.bad debts to be written off Rs.750 and provision for doubtful debts
to be maintained at Rs.7000

4.electricity and telephone to be apportioned as factory 3/5th and

office 2/5th.

5.A fire occurred destroying finished goods worth

Rs.15000.insurance company admitted a claim of Rs.12000 not yet
received.

6.stock of stationery in hand(31-3-2014)Rs.150

You are required to prepare Manufacturing account and trading

account and profit and loss account for the year ended 31st
march,2015.