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Final Accounts
Q.1 From the following Trial balance of Manish enterprise. Prepare the Trading Account, Profit
and Loss Account for the year ended 31st March, 2019 and also prepare Balance Sheet as on that
date.
Trial Balance as on 31-03-2019
Debit balances Amount Amount Credit balances Amount Amount

Furniture 15,000 Capital 80,000
Salary 10,000 Sales 1,00,000
Purchases 60,000 Sundry creditors 16,000
Carriage inward 1,000 Bank overdraft 6,000
Opening Stock 50,000 Bank loan 35,000
Wages 5,000 Purchase return 2,000
Sundry debtors 20,000 Bills Payable 8,000
Plant & machinery 30,000
Postage and telegram 3,000
Insurance 5,000
Bad debts 3,000
Rent 4,000
Discount 1,000
Royalty 3,000
Printing & stationery 2,000
Cash in hand 25,000
Bills Receivable 6,000
Sales Return 3,000
Total 2,46,000 Total 2,46,000
Adjustments:
1) Stock on hand on 31st March, 2013 was valued at Rs. 1,00,000.
Q.2 From the following Trial balance of Rakesh enterprise. Prepare the Trading Account, Profit
date.
Trial Balance as on 31-03-2016
Opening stock 30,000 Capital 1,20,000
Goodwill 45,000 Purchase Return 2,000
Purchases 60,000 Sales 80,000
Carriage inward 1,000 Sundry creditors 25,000
Furniture 40,000 Bank overdraft 22,000
Wages 5,000 Bank loan 20,000
Salaries 8,000 Bills payable 6,000
Sundry debtors 20,000
Insurance 5,000
Bad debts 2,000
Rent 12,000
Commission allowed 1,000
Motor car 30,000
Cash at bank 5,000
Royalty 1,000
Carriage outward 2,000
Total 2,75,000 Total 2,75,000
Adjustments:
1) Stock on hand on 31st March, 2013 was valued at Rs. 60,000.

Q.3 From the following Trial balance of Rohan enterprise. Prepare the Trading Account, Profit
date.
Trial Balance as on 31.03.2016
Land & Building 40,000 Capital 1,40,000

Cash in hand 25,000 Purchase Return 3,000
Purchases 73,000 Sales 1,50,000
Carriage Outward 2,000 Sundry creditors 20,000
Opening Stock 1,00,000 Bills payable 12,000
Wages 5,000 Bank loan 30,000
Salaries 10,000
Printing & Stationery 4,000
Insurance 8,000
Bad debts 3,000
Sundry expenses 4,000
Commission Allowed 3,000
Audit Fees 6,000
Motor car 25,000
Royalty 4,000
Postage and Telegram 8,000
Drawings 15,000
Total 3,55,000 Total 3,55,000
Adjustments:
1) Stock on hand on 31st March, 2013 was valued at Rs. 40,000/-

Q.4 From the following Trial balance of Sunil enterprise. Prepare the Trading Account, Profit and
Loss Account for the year ended 31st March, 2013 and also prepare Balance Sheet as on that date.
Trial Balance as on 31st March, 2013

Debit Balances Amount Credit balances Amount
Opening Stock 80,000 Sales 1,20,000
Plant & Machinery 20,000 Rent received 11,000
Purchases 50,000 Bills Payable 9,000
Wages 6,000 Sundry creditors 30,000
Salary 15,000 Capital 1,80,000
Discount allowed 2,000
Carriage inward 1,000
Travelling expenses 3,000
Cash in hand 4,000
Furniture 40,000
Insurance 5,000
Land and Building 60,000
Bills receivable 8,000
Bad debts 2,000
Sundry Expenses 3,000
Total 3,50,000 Total 3,50,000
Additional Information:
1) Stock on hand on 31st March, 2013 was valued at Rs. 80,000.

Q.5 From the following Trial balance of Imran enterprise. Prepare the Trading Account, Profit
and Loss Account for the year ended 31st March, 2013 and also prepare Balance Sheet as on
that date.
Motor car 8,000 Commission Received 3,000
Bad debts 3,000 Sundry creditors 10,000
Salary 10,000 Bank loan 14,000
Commission 1,000 Capital 70,000
Travelling expenses 3,000
Cash in hand 5,000
Furniture 30,000
Wages 5,000
Insurance 8,000
Investment 20,000
Advertisement 6,000
Total 2,75,000 Total 2,75,000
1) Stock on hand on 31st March, 2013 was valued at Rs. 1,00,000.

Q.6 From the following Trial balance of Viabhav enterprise. Prepare the Trading Account,
Profit and Loss Account for the year ended 31st March, 2013 and also prepare Balance Sheet
as on that date.
Debit Balances Amount Credit Balances Amount
Salary 10,000 Sales 1,10,000
Postage and Telegram 1,000 Sundry Creditors 40,000
Opening Stock 60,000 Bills Payable 38,000
Plant and Machinery 40,000 Bank overdraft 2,000
Import Duty 3,000 Bank Loan 60,000
Purchases 80,000 Capital 1,00,000
Sundry Debtors 30,000
Wages 4,000
Printing and Stationery 1,500
Cash in hand 8,000
Furniture 80,000
Bad debts 6,000
Royalty 5,000
Total 3,50,000 Total 3,50,000
Adjustments:-
1) Closing stock was valued at Rs. 30,000/-
Q.7 From the following Trial balance of Keshav enterprise. Prepare the Trading Account, Profit
and Loss Account for the year ended 31st March, 2015 and also prepare Balance Sheet as on
that date.
Debit balances Amount Credit Balances Amount
Opening Stock 1,30,000 Sales 60,000
Bills receivable 8,000 Commission received 2,000
Bad debts 1,000 Sundry creditors 10,000
Salary and Wages 10,000 Bank loan 1,00,000
Discount 2,000 Bank overdraft 1,000
Carriage inward 3,000 Purchase return 5,000
Travelling expenses 4,000 Capital Account 1,00,000
Cash in hand 6,000
Furniture 20,000
Insurance 6,000
Drawing 5,000
Total 2,85,000 Total 2,85,000
1) Closing stock as on 31.03.2013 Rs. 1,00,000
Q.8 From the following Trial balance of Kunal enterprise. Prepare the Trading Account, Profit
date.

Opening Stock 2,00,000 Sales 4,00,000
Land and building 80,000 Commission received 20,000
Purchases 2,50,000 Bills Payable 80,000
Bad debts 5,000 Sundry creditors 1,00,000
Salaries 25,000 Purchase Return 12,000
Commission allowed 10,000 Capital Account 8,00,000
General expenses 15,000
Cash in hand 40,000
Furniture 2,80,000
Repairs 10,000
10% Govt. Bonds 4,00,000
Advertisement 10,000
Sales Return 5,000
Trade Expenses 1,000
Audit fees 6,000
Total 14,12,000 Total
1) Stock on 31st March 2019 was valued at Rs. 80,000.
2) Depreciation on Furniture at 10%p.a.
Q.9 From the following Trial balance of Manisha enterprise. Prepare the Trading Account, Profit
date.
Debit Balances Amount Credit Balances Amount

Sundry Debtors 28,000 Sales 1,20,000
Purchases 55,000 Rent received 2,500
Furniture 38,500 Sundry creditors 34,500
Plant & Machinery 60,000 Purchase return 3,000
Rent 8,000 Discount received 1,000
Salaries 7,500 Bills payable 20,000
Discount 3,000 Bank overdraft 9,000
Bills receivable 4,000 Capital 1,60,000
Postage & telegram 2,500
Sales return 5,000
Cash in hand 4,000
Cash at bank 45,000
Insurance 2,000
Opening stock 40,000
Office expenses 1,500
Advertisement 6,000
Land & building 20,000
Bad debts 3,000
Wages 10,000
Total 3,50,000 Total 3,50,000
Adjustments:
1) Stock on 31st March 2019 was valued at market price Rs. 60,000/- and Cost price Rs. 80,000/-
2) Depreciation on Building @ 5%.
3) Outstanding wages Rs. 1,000/-
Q.10 From the following Trial balance of Amit enterprise. Prepare the Trading Account, Profit
date.

Land and building 80,000 Commission received 20,000
Wages 5,000 Sundry creditors 80,000
Salaries 25,000 Purchase Return 4,000
Sundry Expenses 5,000 Bank overdraft 1,000
Carriage inward 2,000 Capital Account 80,000
General expenses 1,000
Cash in hand 30,000
Furniture 50,000
printing & stationery 1,000
Plant and machinery 40,000
Advertisement 10,000
Bad debts 1,000
Audit fees 2,000
Sales Return 5,000
3,57,000 3,57,000
1) Stock on 31st March 2019 was valued at Rs. 80,000
3) Depreciation provided on furniture at 10%.
3) Outstanding salaries Rs. 1,000/-

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Final Accounts

Debit balances Amount Amount Credit balances Amount Amount

Salary 10,000 Sales 1,00,000

Purchases 60,000 Sundry creditors 16,000

Carriage inward 1,000 Bank overdraft 6,000

Opening Stock 50,000 Bank loan 35,000

Wages 5,000 Purchase return 2,000

Sundry debtors 20,000 Bills Payable 8,000

Plant & machinery 30,000

Postage and telegram 3,000

Bad debts 3,000

Printing & stationery 2,000

Cash in hand 25,000

Bills Receivable 6,000

Sales Return 3,000

Total 2,46,000 Total 2,46,000

Opening stock 30,000 Capital 1,20,000

Goodwill 45,000 Purchase Return 2,000

Purchases 60,000 Sales 80,000

Carriage inward 1,000 Sundry creditors 25,000

Furniture 40,000 Bank overdraft 22,000

Wages 5,000 Bank loan 20,000

Salaries 8,000 Bills payable 6,000

Sundry debtors 20,000

Postage and telegram 3,000

Bad debts 2,000

Commission allowed 1,000

Motor car 30,000

Cash at bank 5,000

Printing & stationery 3,000

Carriage outward 2,000

Bills Receivable 9,000

Total 2,75,000 Total 2,75,000

1) Stock on hand on 31st March, 2013 was valued at Rs. 60,000.

Land & Building 40,000 Capital 1,40,000

Purchases 73,000 Sales 1,50,000

Carriage Outward 2,000 Sundry creditors 20,000

Opening Stock 1,00,000 Bills payable 12,000

Wages 5,000 Bank loan 30,000

Sundry debtors 20,000

Printing & Stationery 4,000

Bad debts 3,000

Sundry expenses 4,000

Commission Allowed 3,000

Audit Fees 6,000

Motor car 25,000

Postage and Telegram 8,000

Total 3,55,000 Total 3,55,000

1) Stock on hand on 31st March, 2013 was valued at Rs. 40,000/-

Trial Balance as on 31st March, 2013

1) Stock on hand on 31st March, 2013 was valued at Rs. 80,000.

Debit Balances Amount Credit balances Amount

Opening Stock 80,000 Sales 1,60,000

Motor car 8,000 Commission Received 3,000

Purchases 30,000 Bills Payable 18,000

Bad debts 3,000 Sundry creditors 10,000

Salary 10,000 Bank loan 14,000

Commission 1,000 Capital 70,000