QUESTION

• The following is the Trial Balance of Mr. X as at 31 st March, 2016

S.No.9 PARTICULARS Dr. (Rs.) Cr. (Rs.)
1 Land & Buildings 2,00,000
2 Plant & Machinery 1,50,000
3 Furniture and Fixtures 50,000
4 Opening Stock 2,00,000
5 Purchases and Sales 4,00,000 7,50,000
6 Returns Inwards and Outward 5,000 6,000
7 Carriage Inwards 1,500
8 Carriage Outwards 500
9 Wages & Salaries 5,000
10 Salaries and Wages 20,000
11 Discount Allowed and Received 2,500 2,000
12 Commission 4,000 5,000
13 Interest 1,000
14 Rent, Rates and Taxes 12,000
15 Repairs 2,000
16 Insurance 1,500
17 Printing & Staintioery 500
18 Postage & Telephone 3,500
19 Sales Promotion Expenses 1,000
20 Bad Debts 2,000
21 Depreciation 25,000
22 Miscellaneous Expenses 2,000
23 Cash in Hand and at Bank 10,000
24 S. Debtors and Creditors 40,000 62,000
25 Drawings 36,000
26 Capital 3,50,000
11,75,000 11,75,000
 Continue..

• Closing Stock on 31st March, 2016 was Rs.

1,20,000.
Pass the necessary closing and adjusting
entries and prepare Trading & Profit & Loss
Account for the year ending 31 st March, 2016
and a Balance Sheet as on that date.
 QUESTION
• From the following Trial Balance of Mr. X for the year ended 31/3/2020 and additional
information given prepare Trading & P & L account and Balance sheet as on 31/3/2020.

PARTICULARS Dr.(Rs.) Cr. (Rs.)

Opening Stock 62,500 ________

Capital ________ 4,64,000
Debtors & Creditors 75,000 43,750
Purchases & Sales 5,00,000 8,75,000
Carriage 10,000 _______
Wages & Salaries 31,250 _____
Commission ________ 16,750
Machinery 1,38,750 ________
Furniture 25,000 ________
Bad Debts Recovered ________ 8,000
Bills Receivable & Bills Payable 37,500 33,750
Land & Buildings 5,00,000 _________
Taxes & Insurance 21,250 _________
10% Bank Loan ________ 50,000
Interest on bank Loan 3,000 ______
cash at Bank 24,500 _______
Drawings 62,500 _______
TOTAL 14,91,250 14,91,250
 Continue….

• Additional Information:-
(i) Value of the closing stock as on 31st March, 2019 is Rs.
50,000.
(ii) Wages and Salaries outstanding is Rs. 12,500 and
Insurance Prepaid is Rs. 5,000.
(iii) Depreciate Machinery & Furniture @ 10% & 15%
p.a., respectively. Machinery included a Machine which was
purchased for Rs. 38,500 on 30th Sep., 2019.
(iv) Goods costing Rs. 10,000 were taken by the
properitor for his personal use but no entry has been made in the
books of accounts.
 question

RECEIPTS RS PAYMENTS RS

To Balance b/d By Salaries 15,000

Cash 2,000 By Repairs 1,000
Bank 18,000 20,000 By Purchase of Furniture 10,000
To Donation 5,000 By Purchase of Investments 10,000
To Subscription 40,000 By Insurance Premium 600
To Entrance Fee 2,000 By Printing & Stationery 400
To Interest on Investments 600 By Billiards Table 20,000
To Sale of Old newspapers 200 By Miscellaneous Expenses 1,000
By Balance
Cash 1,800
Bank 8,000 9,800

67800 67800
 Continue…

• Additional Information-
i) Subscription in arrear for the year 2021-22 Rs
2,000 and subscription received in advance
for the year 2022-23 Rs. 1,200
ii) Insurance Premium prepaid Rs. 200 on 31st
March 2022.
iii) Mis. Exp. Outstanding on 31st March 2022 Rs.
200
iv) Entrance fee is to be treated as revenue
income
 Question
• From the following trial balance and the necessary information given
below for a public school, prepare I&E A/c for the year ending 31 st March
2022 nad a Balance Sheet.

Debit Balance Rs Credit Balances Rs

Buildings 2,50,000 Admission Fees 5,000

Furniture & fittings 40,000 Tution & other fees received 2,00,000
Library books 60,000 Creditors for suppliers 6,000
Investments @ 9% (1-4-2021) 2,00,000 Rent for the Hall 4,000
Salaries 2,00,000 Mis. Receipts 12,000
Stationery 15,000 Government Grant 1,40,000
General Exp. 8,000 General Fund 4,00,000
Annual Sports Expenses 6,000 Donation received for the purchase of library books 25,000
Cash at Bank 20,000 Sale of old furniture 8,000
Cash in hand 1,000

8,00,000 8,00,000
 Continue…
• Fees yet to be received for the year is Rs.
11,000. salaries yet to be paid amount to Rs.
12,000. Furniture costing Rs. 15,000 was
purchased on 1-10-2021. The book value of
the furniture sold was Rs. 20,000 on 1-04-
2021. Depreciation is to be charged @ 10% pa
on furniture and fittings; 15% on Library
books and 5% on buildings. Assume further
that donation for Library books is fully utilised
during the year and furniture was sold on 1-
04-2021.
 QUESTION - PREPARATION OF INCOME &
EXPENDITURE A/C & BALANCE SHEET
• From the following Receipts & Payment Account of “Mumbai Cricket Club” for the year
2019-20 and additional information, prepare Income & Expenditure Account for the year and
Balance Sheet as on 31st March, 2020.

AMOUNT AMOUNT
RECEIPTS (Rs.) PAYMENTS (Rs.)

To Balance (Cash in Hand) 14,000 By Salaries of Office Staff 60,000

To Subscriptions 1,00,000 By Honorarium to Legal Advisors 30,000

To Donations 29,000 By Sundry Expenses 3,000
To Interest on Investments (10% p.a.) 40,000 By Stationery 5,000
To Charity Show Receipts 20,000 By Court Fee Stamps 10,000
By Typewriters 20,000
By Charity Show Expenses 5,000
By Cash in Hand 70,000

2,03,000 2,03,000
 Continue….

ADDITIONAL INFORMATION

PARTICULARS 01/04/2019(Rs.) 31/03/2020(Rs.)

Subscription due 1,000 2,000

Subscription received in advance 2,000 1,000
Stock of Court Fee Stamps 4,000 6,000
Value of office equipment (Type -
writers) 42,000 60,000
Value of Buildings 80,000 72,000
 PREPARATION OF INCOME & EXPENDITURE
ACCOUNT & BALANCE SHEET
• The receipts and payment account of Delhi Football Club for
the year ending 31st March, 2020 was as under:-

AMOUNT AMOUNT
RECEIPTS (Rs.) PAYMENTS (Rs.)

To Balance b/d(1/4/2019) 48,000 By Purchase of Football 80,000

To Subscription Received 2,46,000 By Tournament Fees 10,000
To Interest 2,000 By Affiliation Fees 2,000
To Sale of Furniture 10,000 By Rent of Playground 5,000
To Donationfor Club Buildings 60,000 By Refreshment Expenses 4,000
By Travelling Expenses 30,000
By Investments (Purchased at
Face Value on
31/3/2020 1,00,000
By Salaries 12,000
By Miscellaneous Expenses 8,000
By Balance c/d(31/3/20) 1,15,000

3,66,000 3,66,000
 Continue….

Prepare Club’s Income & Expenditure account for the year

ending 31st March, 2020 and the Balance Sheet as on that date after
taking the following information into account:
i) The subscriptions received include Rs. 10,000 for the year
2018-19 and Rs.8,000 for the year 2020-21 Rs.16,000 is still
outstanding as subscriptions for the year 2019-20.
ii) The book value of furniture sold was Rs. 14,000.
iii) Interest earned but not received Rs. 500.
iv) Rent of playground due but not paid for the current year
amounted to Rs.6,000; Rs. 1,000 was paid for the year 2018-19.
v) Salary out standing for the year 2019-20 was Rs. 5,000
vi) Stock of footballs on 31st March 2020 was Rs. 4,000
 QUESTION
• The following is I&E Account of Delhi Cub for the year ended 31 st March
2022.
EXPENDITURE RS INCOME RS

Salaries 39,000 Subscritions 136000

Rent 9,000 Donation 10000
Printing 1500
Insurance 1000
Audit Fees 1500
Games & Sports 7000
Subscription Written off 700
Miscellaneous Exp. 29000
Loss on sale of Furniture 5000
Dep. On
Sports equipment 12,000
Furniture
6,200 18200
Excess of Income over Expenditure 34100

146000 146000
 question

ADDITIONAL INFORMATION 31-03-2021 31-03-2022

Subscription in Arrears 5,200 7,400

Advance Subs 2,000 3,000

Outstanding Exp.: Rent 1,000 1,600

Salaries 2,400 700

Audit Fees 1,000 1,500

Sports Equipment less Dep. 50,000 48,000

Furniture less Depreciation 60,000 55,800

Prepaid Insurance _ 300

 Continue…

• Book value of Fur. Sold Rs 14000. Entrance

Fees capitalised Rs. 8000. On 1st april 2021
there was no cash in hand but bank overdraft
was Rs 30000. On 31st March 2022 cash in
hand amounted to Rs 1700 and the rest was
bank balance. Prepare