Q.

1 Trading Account
Dr. Cr.
Particulars Rupee Particulars Rupee
To opening stock 10,000 By sales 200000
To purchases 200000 Less: Sales Return 5000 195,000
Less: purchases Return 2500 197,500
To wages 11,000
To carriage inwards 1,500 By gross loss c/d 27,500
To Freight Inwards 2,500
222,500 222,500
Profit and loss Account
Dr. Cr.
Particulars Rupee Particulars Rupee
To Gross loss b/d 27,500
Carriage Outwards 3,000 Net loss 30,500
30,500 30,500

Q.2

Trading Account
Dr. Cr.
Particulars Rupee Particulars Rupee
To opening stock 1,500,000 By sales 1260000
To purchases 1050000 Less: sales return 20000 1,240,000
Less: purchases Return 10000 1,040,000 By closing Stock 84,000
To Freight Inwards 3,000
To carriage inwards 3,000 By gross loss c/d 1,262,000
To wages 40,000
2,586,000

Gross loss = 1,262,000

Q.3
Trading & Profit-loss Account
Dr. Cr.
Particulars Rupee Particulars Rupee
To opening stock 40,000 By sales 350000
Raw material 70,000 Less: sales return 3000 347,000
Finished goods By closing Stock
To purchases 180000 Raw material 35,000
Less: purchases Return 5000 175,000 Work in progress 10,000
To factory expenses 45,000 Finished Goods 55,000
To Freight Inwards 10,000
To gross profit c/d 107,000
447,000 447,000

To Freight Outward 15,000 by gross profit b/d 107,000

 net profit 92,000

Q.4
Trading & Profit-loss Account
Dr. Cr.
Particulars Rupee Particulars Rupee
To adjusted purchases 1,100,000 By sales 1,250,000
To freight & Carriage Inward 6,000
To wages 14,000
To carriage outward 5,000
To gross profit c/d 125,000
1,250,000 1,250,000

Q.5 Cost of Goods Sold = Opening Inventory + Purchases (Net) + Direct Expenses - Closing Inventory
= 78600

Q.6 Trading & Profit-loss Account

Dr. Cr.
Particulars Rupee Particulars Rupee
To Fire insurance paid 6,000 By Gross profit 262500
To Interest paid 5000 By Discount received 17,000
To Rent paid 14000 By Commission received 7000
To Printing and stationery 7500 By Interest received 2,000
To Postage and courier 5500 By Rent received 12,500
To Bad debts 3250 By Miscellaneous income 12,900
To Depreciation on machine 5000 By Gain on sale of machine 600
To Carriage outwards 4100 By Income from investmen 11,500
To Travelling expenses 6500
To Bank charges 1900
To Loss by fire 3500
To Loss on sale of furniture 4000
To Dividend received on shar 6250
To Salaries and wages 12,000
To Discount allowed 3,000
To Commission paid to sales 14,000
To Freight outwards 15,000
To Entertainment expenses 8,000
To Sales promotion expenses 4250
To Audit fees 8500
To Repairs and maintenance 3,400
To Water and electricity 3,000
To Telephone expense 6,000
To Net profit to capital A/C 176,350
326,000 326000
Q.7 Trading & Profit-loss Account
Dr. Cr.
Particulars Rupee Particulars Rupee
To opening stock 50000 By sales 170000
To purchases 100000 By closing Stock 100000
To Wages 30000
To Gross Profit c/d 90000
270000 270000

To interest 2000 By Gross Profit b/d 90000

To Bad Debts 5000 By interest 6000
To Repairs 3000
To Depreciation 10000
To Rent 8000
To Salaries 20000
To Office Expense 25000
To Net profit transferred to c 23000
96000 96000

Balance Sheet
Liabilities Rupee Assets
Current Liabilities Current Assets
Sundry Creditors 70000 Cash In Hand
Bills Payable 40000 110000 Cash In Bank
Capital Account Bills Receivable
Opening Balance 250000 Sundry Debtors
Less: drawings 20000 Closing Stock
230000 Fixed Assets
Net Profit 23000 253000 Furniture and Fix
Plant and Mechin
Land and Buildin
363000

Financial Statements of Jagat Shah

Q.8 Trading Account 
for the year ended March 31, 2018
Dr.
Rupee
Particulars
Opening Stock 100,000
Purchases 400,000
Less: Purchases Return -5,000 395,000
Wages 100,000
Carriage Inwards 5,000
Gross Profit (Balancing Figure) 410,000
 1,010,000

Profit and Loss Account

for the year ended March 31, 2018
Dr.
Rupee
Particulars  Particulars
Salaries 60,000 Gross Profit
General Expenses 20,000
Rent 50,000
Carriage Outwards 20,000
Advertising 20,000
Net Profit 240,000
410,000

Balance Sheet
as on March 31, 2018
Liabilities  Rupee

Capital 360,000

Less:
-40,000
Dreawings
Add: Net
240,000 560,000
Profit
Current Liabilities
Creditors 50,000

610,000

Q.9
Trading & Profit-loss Account
Dr. Cr.
Particulars Rupee Particulars Rupee
To opening stock 200,000 By sales 1,450,000
 To purchases 500,000 By closing Stock 30,000
To Wages 150,000
Carriage 15,000
To Gross Profit c/d 615,000
1,480,000 1,480,000

To Rent 45,000 By Gross Profit b/d 615,000

To Sundry Expense 20,000

To Net profit transferred to c 550,000

615,000 615,000

Balance Sheet
Liabilities Rupee Assets
Current Liabilities Current Assets
Creditors 140,000 690,000 Cash In Bank
Add: Net Profit 550,000 Debtors
Capital Account Closing Stock
Opening Balance 1,000,000 Fixed Assets
Less: drawings 950,000 50,000 Mechinery
Net loss

740,000

Q.10

Trading Account 
Dr.
Rupee
Particulars 
Opening Stock 165,000
Purchases 468,500
Less: Return Outwards -1,100 467,400
Wages 25,000
Carriage Inwards 8,500
Gross Profit 146,700
812,600

Profit and Loss Account 

Dr.
Rupee
Particulars  Particulars
 Particulars  Particulars
General Expenses 8,000
Rent Paid 37,100 Gross Profit
Interest on
Electricity Charges 1,900 Investments
Salaries 11,100
Discount Allowed 3,000
Net Profit 86,600
147,700

Balance Sheet 
Rupee
Liabilities  Assets 
Capital 350,000 Fixed Assets
Add: Net Profit 86,600 Building
Less: Drawings -6,500 430,100 Machinery
Current Liabilities Investments
Current
Sundry Creditors 100,000
Assets
Bills Payable 50,000 Closing Stock
Debtors
Cash at bank
Cash in Hand
580,100
es - Closing Inventory
 Rupee

16000
40000
20000
15000
100000 191000

15000
57000
100000 172000
363000

gat Shah

1, 2018
Cr.
Rupee
Particulars 
Sales 820,000
Less: -10,000 810,000
Sales
Closing Stock 200,000
Return
 1,010,000

Cr.
Rupee

410,000

410,000

t
2018
Assets Rupee

Fixed
Assets
Machiner
70,000
y
Current
Assets
Closing
200,000
Stock
Debtors 300,000
Cash 40,000
610,000
 Rupee

150,000
90,000
30,000 270,000

270,000
200,000

740,000

Cr.
Rupee
Particulars
Sales 635,000
Less: Retu -4,500 630,500
Closing Stock 182,100

812,600

Cr.
Rupee
 146,700
1,000

147,700

Rupee

187,500
92,500
35,000

182,100
35,000
30,000
18,000
580,100
 Financial Statements of Jagat Shah
Q.8 Trading Account 
for the year ended March 31, 2018
Dr.
Amount
Particulars Particulars 
(Rs)
Opening Stock 100,000 Sales
Less: Sales Return
Purchases 400,000
Less: Purchases
-5,000 395,000 Closing Stock
Return
Wages 100,000
Carriage Inwards 5,000
Gross Profit (Balancing Figure) 410,000
1,010,000

Profit and Loss Account

for the year ended March 31, 2018
Dr.
Amount
Particulars  Particulars
(Rs)
Salaries 60,000 Gross Profit
General Expenses 20,000

Rent 50,000
Carriage Outwards 20,000
Advertising 20,000
Net Profit 240,000
410,000

Balance Sheet
as on March 31, 2018
Amount
Liabilities 
 Liabilities 
(Rs)
Capital 360,000
Less:
-40,000
Dreawings
Add: Net
240,000 560,000
Profit
Current Liabilities
Creditors 50,000

610,000

Q. 10

Trading Account 
for the year ended March 31, 2019
Dr.
Amount
Particulars 
( ₹)
Opening Stock 165,000
Purchases 468,500
Less: Return Outwards -1,100 467,400
Wages 25,000
Carriage Inwards 8,500
Gross Profit 146,700
812,600

Profit and Loss Account 

for the year ended March 31, 2019
Dr.
Amount
Particulars  Particulars
( ₹)
General Expenses 8,000
Rent Paid 37,100 Gross Profit
Interest on
Electricity Charges 1,900 Investments
Salaries 11,100
Discount Allowed 3,000
Net Profit 86,600
147,700
 Balance Sheet 
as on March 31, 2019
Amount
Liabilities  Assets 
( ₹)
Capital 350,000 Fixed Assets
Add: Net
86,600 Building
Profit
Less:
Drawing -6,500 430,100 Machinery
s
Current Liabilities
Investments

Sundry Creditors 100,000 Current Assets

Bills Payable 50,000 Closing Stock
Debtors
Cash at bank
Cash in Hand
580,100
f Jagat Shah
unt 
ch 31, 2018
Cr.
Amount
Particulars 
(Rs)
820,000
-10,000 810,000

Stock 200,000

1,010,000

ccount
ch 31, 2018
Cr.
Amount
(Rs)
410,000

410,000

e Sheet
h 31, 2018
Amount
Assets
 Assets
(Rs)
Fixed Assets
Machinery 70,000

Current Assets
Closing Stock 200,000
Debtors 300,000
Cash 40,000
610,000

ding Account 
nded March 31, 2019
Cr.
Amount
Particulars
( ₹)
Sales 635,000
Less: Return Inwar -4,500 630,500
Closing Stock 182,100

812,600

ccount 
ch 31, 2019
Cr.
Amount
( ₹)

146,700
1,000

147,700
Amount
( ₹)

187,500

92,500

35,000

182,100
35,000
30,000
18,000
580,100