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4.Unit 3

The document provides examples and exercises for preparing trading accounts, profit and loss accounts, and balance sheets for various companies as of specific dates. It includes details such as stock, purchases, sales, and necessary adjustments for accurate financial reporting. The examples illustrate how to calculate gross profit, net profit, and total balance sheet figures based on given financial data.

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Soumya Das
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Download as PPTX, PDF, TXT or read online on Scribd
2 views

4.Unit 3

The document provides examples and exercises for preparing trading accounts, profit and loss accounts, and balance sheets for various companies as of specific dates. It includes details such as stock, purchases, sales, and necessary adjustments for accurate financial reporting. The examples illustrate how to calculate gross profit, net profit, and total balance sheet figures based on given financial data.

Uploaded by

Soumya Das
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Unit 3

Final Account

Prof. Dipali Jadav


Trading account
Ex:
Prepare trading account for the year ending March 31, 2018, in the books of Tutorstips Ltd. from
the following balances as on March 31, 2018.

Stock as on 01/04/2015 10,000


Purchases 2,00,000
Freight 15,000
Wages 50,000
Carriage 10,000
Sales 3,20,000
Return Inward 10,000
Return outward 20,000
Stock as on 31/03/2018 20,000
PROFIT & LOSS ACCOUNT
PROFIT & LOSS ACCOUNT
PROFORMA
EX;
rom the following trial balance of John and Co., prepare the trading and profit and loss accounts for the year ended 31st
December 2019.
closing stock 32000
BALANCE SHEET PERFORMA
Ex; Prepare trading account, profit and loss account and balance sheet.

The following balances were extracted from the books of Thomas as on 31st March, 2018

Additional information:
i. Closing stock Rs. 9,000
ii. Provide depreciation @ 10% on machinery
iii. Interest accrued on investment Rs. 2,000
Ex;
Given below are the balances extracted from the books of Nagarajan as on 31st March, 2016.
Prepare the trading and profit and loss account for the year ended 31st March, 2016 and the balance sheet as on
that date after adjusting the following:

i. Commission received in advance Rs. 400

ii. Advertisement paid in advance Rs. 150

iii. Wages outstanding Rs. 200

iv. Closing stock on 31st March 2016, Rs. 2,100


Given below are the balances extracted from the books of yuvraj as on 31st March, 2022.
Generate the trading and profit and loss account for the year ended 31st March, 2022 and
the balance sheet as on that date after adjusting the following:

Particulars Rs Particulars Rs
Opening stock 1000 Sales 15100
Purchase 10000 Creditors 2400
Wages 600 Capital 5000
Freight inwards 750 Rent received 600
Advertisement 500 Commission received 1900
Carriage outwards 400
Cash 1200
Debtors 2250
Bill receivable 300
Machinery 8000

Adjustments;
• Commission received in advance Rs. 400
• Advertisement paid in advance Rs. 150
• Wages outstanding Rs. 200
Closing stock on 31st March 2016, Rs. 2,100
following:
Ans; Goss Profit 4650 Total 17200
Net Profit 6000 Total 6750
Balance sheet total 14000

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