ACCOUNTS 14.

Accounts from Incomplete Records

14. ACCOUNTS FROM INCOMPLETE

RECORDS
Q.1 (Nov 2013) (8 Marks)
The details of Assets and Liabilities of Mr. 'A' as on 31-3-2012 and 31-3-2013 are as follows:

31-3-2012 31-3-2013
(Rs.) (Rs.)
Assets:
Furniture 50,000
Building 1,00,000
Stock 1,00,000 2,50,000
Sundry Debtors 60,000 1,10,000
Cash in hand 11,200 13,200
Cash at Bank 60,000 75,000
Liabilities:
Loans 90,000 70,000
Sundry Creditors 50,000 80,000
Mr. A' decided to provide depreciation on building by 2.5% and furniture by 10% for, the period ended on
31 -3-2013. Mr. 'A' purchased jewellery for Rs.24,000 for his daughter in December 2012. He sold his
car on 30-3-2013 and the amount of Rs.40,000 is retained in the business.
You are required to :
(0 Prepare statement of affairs as on 31 -3-2012 & 31 -3-2013.
(ii) Calculate the profit received by 'A' during the year ended 31 -3-2013.

Q. 2 (May 2013) (16 Marks)

A sole trader requests you to prepare his Trading and Profit & Loss Account for the year ended 31st
March, 2013 and Balance Sheet as at that date. He provides you the following information:
Statement of Affairs as at 31st March, 2012

Liabilities Rs. Assets Rs.

Bank Overdraft 4,270 Furniture 96,000
Outstanding Expenses Computer 24,300
Salaries 8,000 Mobile Phone 8,000
Rent 6,000 14,000 Stock 89,500
Bills Payable 22,500 Trade Debtors 55,000
Trade Creditors 52,500 Bills Receivable 15,000
Capital (balancing figure) 1,97,430 Unexpired Insurance 2,400

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Stock of Stationery 200

Cash in Hand 300
Total 2,90,700 Total 2,90,700
He informs you that there has been no addition to or sale of Furniture, Computer and Mobile Phone
during the accounting year 2012-13. The other assets and liabilities on 31st March, 2013 are as follows:

Particulars Rs.
Stock 95,400
Trade Debtors 65,000
Bills Receivable 20,000
Unexpired Insurance 2,500
Stock of Stationery 250
Cash at Bank 18,000
Cash at Hand 7,230
Salaries Outstanding 8,300
Rent Outstanding 6,000
Bills Payable 26,500
Trade Creditors 76,000
He also provides to you the following summary of his cash transactions:

Receipts Rs. Payments Rs.

Cash Sales 5,09,800 Trade Creditors 3,06,000
Trade Debtors 1,51,900 Bills Payable 80,000
Bills Receivable 65,000 Salaries 99,000
Rent 72,000
Insurance Premium 10,000
Stationery 1,500
Mobile Phone Expenses 9,000
Drawings 1,20,000
It is found prudent to depreciate Furniture @ 5%, Computer @ 10% and Mobile Phone @ 25%. A
provision for bad debts @ 5% on Trade Debtors is also considered desirable.

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 ACCOUNTS 14. Accounts from Incomplete Records
Q.3 (May 2014) (16 Marks)
Following are tne incomplete information of Moonlight Traders:
The following balances are available as on 31.03.2013 and 31.03.2014.

31-3-2013 31-3-2014
(Rs.) (Rs.)
Land and Building 5,00,000 5,00,000
Plant and Machinery 2,20,000 3,30,000
Office equipment 1,05,000 85,000
Debtors ? 2,25,000
Creditors for purchases 95,000 ?
Creditors for office expenses 20,000 15,000
Stock ? 65,000
Long term loan from SBI @ 12%. 1,25,000 1,00,000
Bank 25,000 ?
Provision for tax (rate 30%) 35,000 30,000
Other Information

Particulars Rs.
Collection from debtors 9,25,000
Payment to creditors for purchases 5,25,000
Payment of office expenses 42,000
Salary paid 32,000
Selling expenses 15,000
Cash sales 2,50,000
Credit sales (80% of total sales)
Credit purchases 5,40,000
Cash purchases (40% of total purchases)
CP Margin at cost plus 25%
Discount Allowed 5,500
Discount Received 4,500
Bad debts (2% of closing debtors)

Depreciation to be provided as follows

Land and Building 5%
Plant and Machinery 10%
Office Equipment 15%

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 ACCOUNTS 14. Accounts from Incomplete Records
Other adjustments :
[i] On 01.10.13 they sold machine having Book Value Rs.40,000 (as on 31.03 2013) at a loss of
Rs.15,000. New machine was purchased on 01.01.2014.
[ii] Office equipment was sold at its book value on 01.04.2013
[iii] Loan was partly repaid on 31.03.14 together with interest for the year.
Prepare Trading P & L A/c. and Balance Sheet as on 31.03.2014.

Q 4 (June 2014) (2 Marks)

Answer the following questions (give workings):
Calculate the average collection period from the following details by adopting 360 days an year.
Average Inventory - Rs.10,80,000 Gross Profit Ratio - 10%
Debtors - Rs.6,90,000 Credit sales to total sales - 20%
Inventory Turnover ratio - 6 Times 1 year - 360 days

Q.5 (Dec 2014) (4 Marks)

Answer the question:
(b) Prepare Total Creditors Account for the year ended on 31.03.2013 from the data given below:

Particulars Rs.
Creditors Balance on 01.04.2012 38,000
Credit Purchases during the year 2,67,000
Bills payable accepted 62,000
Cash paid to Creditors 1,37,000
B/R endorsed to creditors 16,000
Endorsed B/R dishonoured 3,000
B/R dishonoured 2,000
Purchase returns 11,000
Discount received 6,000
Transfer from Debtors ledger 7,000

Q.6 (May 2015) (16 Marks)

The following is the Balance Sheet of M/s. Care Traders as on 1-4-2014:

Particulars Rs.
Sources of Funds
Share Capital 10,00,000
Profit and Loss 1,47,800
Unsecured loan @ 10% 1,75,000
Trade Payables 45,800
13,68,600
Application of Funds
Machinery 8,25,500

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Furniture 1,28,700
Inventory 1,72,000
Trade Receivables 2,29,600
Bank Balance 12,800
13,68,600
A fire broke out in the premises on 31 -3-2015 and destroyed the books of account. The accountant could
however provide the following information:
1. Sales for the year ended 31-3-2014 was Rs.18,60,000. Sales for the current year was 20% higher
than the last year.
2. 25% sales were made in cash and the balance was on credit.
3. Gross profit on sales is 30%.
4. Terms of Credit
Debtors : 2 months
Creditors: 1 month
All creditors are paid by cheque and all credit sales are collected in cheque.
5. The Bank Pass Book has the following details (other than payment to creditors and collection from
debtors)
Particulars Rs.
Machinery purchased 1,14,000
Rent paid 1,32,000
Advertisement expenses 80,000
Travelling expenses 78,400
Repairs 36,500
Sales of furniture 9.500
Cash withdrawn for petty expenses 28,300
Interest paid on unsecured loan 8,750
6. Machinery was purchased on 1-10-2014.
7. Rent was paid for 11 months only and 25% of the advertisement expenses relates to the next year.
8. Travelling expenses of Rs.7,800 for which cheques were issued but not presented in bank.
9. Furniture was sold on 1 -4-2014 at a loss of Rs.2,900 on book value.
10. Physical verification as on 31 -3-2015 ascertained the stock position at Rs.1,81,000 and petty cash
balance at nil.
11. There was no change in unsecured loan during the year.
12. Depreciation is to be provided at 10% on machinery and 20% on furniture.
Prepare Bank Account, Trading and Profit and Loss Account for the year ended 31 -3-2015 in the books
of M/s. Care Traders and a Balance Sheet as on that date. Make necessary assumptions wherever
necessary.

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Q. 7 (Nov 2015) (5 Marks)
Balance Sheet of Anurag Trading Co. on 31st March, 2014 is given below:

Liabilities Rs. Assets Rs.

Capital 50,000 PPE 69,000
Profit and Loss A/c 22,000 Stock in Trade 36,000
10% Loan 43,000 Trade Receivables 10,000
Trade Creditors 18,000 Deferred Expenditure 15,000
Bank 3,000
Total 1,33,000 Total 1,33,000
Additional information :
[i] Remaining life of fixed assets (PPE) is 5 years with even use. The net realizable value of fixed assets
(PPE) as on 31s1 March, 2015 was Rs.64,000.
[ii] Firm's sales and purchases for the year 2014-15 amounted to Rs.5 iacs and Rs.4.50 lacs respectively.
[iii] The cost and net realizable value of the stock were Rs.34,000 and Rs.38.000 respectively.
[iv] General Expenses for the year 2014-15 were Rs.16,500.
[v] Deferred Expenditure is normally amortized equally over 4 years starting from F.Y. 2013-14 i.e.
Rs.5,000 per year,
[vi] Out of debtors worth Rs.10,000, collection of Rs.4,000 depends on successful re-design of certain
product already supplied to the customer.
[vii] Closing trade payable is Rs.10,000, which is likely to be settled at 95%.
[viii] There is pre-payment penalty of Rs.2,000 for Bank loan outstanding. Prepare Profit & Loss Account
for the year ended 31 w March, 2015 by assuming it is not a Going Concern.

Q.8 (Nov 2015) (4 Marks)

Attempt the following:
A company sold 20% of the goods on cash basis and the balance on credit basis. Debtors are allowed 11/a
month's credit and their balance as on 31.03.2015 is Rs.1,25,000. Assume that the sale is uniform
through out the year. Calculate the credit sales and total sales of the company for the year ended
31.03.2015.

Q.9 (May 2016) (8 Marks)

The following is the Balance Sheet of Manish and Suresh as on 1 April, 2015:

Liabilities Rs. Assets Rs.

Capital: Building 1,00,000
Manish 1,50,000 Machinery 55,000
Suresh 75,000 Stock 40,000
Creditors for goods 30,000 Debtors 50,000
Creditors for expenses 25,000 Bank 25,000
2,80,000 2,80,000
They give you the following additional information:
[i] Creditors' Velocity 1.5 month & Debtors' Velocity 2 months.
[ii] Stock level is maintained uniformly in value throughout all over the year.

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 ACCOUNTS 14. Accounts from Incomplete Records
[iii] Depreciation on machinery is charged @10%, Depreciation on building @ 5% in the current year.
[iv] Cost price will go up 15% as compared to last year and also sales in the current year will increase
by 25% in volume.
[v] Rate of gross profit remains the same.
[vi] Business Expenditures are Rs.50,000 for the year. All expenditures are paid off in cash.
[vii] Closing stock is to be valued on LIFO Basis.
Prepare Trading, Profit and Loss Account, Trade Debtors A/c and Trade Creditors A/c for the year ending
31.03.2016.

Q.10 (May 2017) (16 Marks)

The following information relates to the business of ABC Enterprises, who requests you to prepare a
Trading and Profit & Loss A/C for the year ended 31st March, 2017 and a Balance Sheet as on that date.
[a] Assets and Liabilities as on

1-4-2016 31-3-2017
(Rs.) (Rs.)
Furniture 60,000 63,500
Stock 80,000 70,000
Sundry Debtors 1,60,000 -
Sundry Creditors 1,10,000 1,50,000
Prepaid Expenses 6,000 7,000
Outstanding Expenses 20,000 18,000
Cash in Hand & Bank Balance 12,000 26,250
[b] Cash transaction during the year:
[i] Collection from Debtors, after allowing discount of Rs.15,000 amounted to Rs.5,85,000.
[ii] Collection on discounting of Bills of Exchange, after deduction of discount of Rs.1,250 by bank,
totalled to Rs.61.250.
[iii] Creditors of Rs.4,00,000 were paid Rs.3,92,000 in full settlement of their dues.
[iv] Payment of Freight inward of Rs.30,000.
[v] Amount withdrawn for personal use Rs.70,000.
[vi] Payment for office furniture Rs.10,000.
[vii] Investment carrying annual interest of 6% were purchased at Rs.95 (200 shares, face value
Rs.100 each) on 1st October, 2016 and payment made thereof.
[viii] Expenses including salaries paid Rs.95,000.
[ix] Miscellaneous receipt of Rs.5,000.

[c] Bills of exchange drawn on and accepted by customers during the year amounted to Rs.1,00,000. Of
these, bills of exchange of Rs.20,000 were endorsed in favour of creditors. An endorsed bill of
exchange of Rs.4,000 was dishonoured.
[d] Goods costing Rs.9,000 were used as advertising material
[e] Goods are invariably sold to show a gross profit of 20% on sales.
[f] Difference in cash book, if any, is to be treated as further drawing or introduction of capital by
proprietor of ABC enterprises.
[g] Provide at 2% for doubtful debts on closing debtors.

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 ACCOUNTS 14. Accounts from Incomplete Records
Q. 11 (May 2019) (12 Marks)
The following balances appeared in the books of M/s Sunshine Traders:

As on 31-3-2018 As on 31-3-2019
(Rs.) (Rs.)
Land and Building 2,50,000 2,50,000
Plant and Machinery 1,10,000 1,65,000
Office Equipment 52,500 42,500
Sundry Debtors 77,750 1,10,250
Creditors for Purchases 47,500 ?
Provision for office expenses 10,000 7,500
Stock ? 32,500
Long Term loan from ABC Bank @ 10% per annum 62,500 50,000
Bank 12,500 ?
Capital 4,65,250 ?
Other information was as follows:

Rs.
Collection from Sundry Debtors 4,62,500
Payments to Creditors for Purchases 2,62,500
Payment of office Expenses 21,000
Salary paid 16,000
Selling Expenses paid 7,500
Total sales 6,25,000
Credit sales (80% of Total sales)
Credit Purchases 2,70,000
Cash Purchases (40% of Total Purchases)
Gross Profit Margin was 25% on cost
Discount Allowed 2,750
Discount Received 2,250
Bad debts 2,250
Depreciation to be provided as follows:
Land and Machinery 5% per annum
Plant and Machinery 10% per annum
Office Equipment 15% per annum
 On 01.10.2018 the firm sold machine having Book Value Rs.20,000 (as on 31.03.2018) at a loss of
Rs.7,500. New machine was purchased on 01.01.2019.
 Office equipment was sold at its book value on 01.04.2018.
 Loan was partly repaid on 31.03.2019 together with interest for the year.

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 ACCOUNTS 14. Accounts from Incomplete Records
You are required to prepare:
(i) Trading and Profit & Loss account for the year ended 31s1 March, 2019.
(ii) Balance Sheet as on 31st March, 2019.

Q. 12 (Nov 2019) (10 Marks)

Archana Enterprises maintain their books of accounts under single entry system. The Balance Sheet as on
31st March, 2018 was as follows:
Liabilities Rs. Assets Rs.
Capital A/c 6,75,000 Furniture & fixtures 1,50,000
Trade creditors 7,57,500 Stock 9,15,000
Outstanding exp. 67,500 Trade debtors 3,12,000
Prepaid insurance 3,000
Cash in hand & at bank 1,20,000
15,00,000 15,00,000
The following was the summary of cash and bank book for the year ended 31s' March, 2019:

Receipts Rs. Payments Rs.

Cash in hand & at Bank on 1st 1,20,000 Payment to trade creditors 1,24,83,000
April, 2018
Cash sales Receipts from trade 1,10,70,000 Sundry expenses paid 9,31,050
Drawings 3,60,000
debtors 27,75,000 Cash in hand & at Bank on 31st 1,90,950
March, 2019
1,39,65,000 1,39,65,000
Additional Information:
[i] Discount allowed to trade deotors and received from trade creditors amounted to Rs.54,000 and
Rs.42,500 respectively, (for the year ended 31st March. 2019)
[ii] Annual fire insurance premium of Rs.9,000 was paid every year on 1st August for the renewal of
the policy.
[iii] Furniture & fixtures were subject to depreciation @ 15% p.a. or diminishing balance method.
[iv] The following are the balances as on 31s' March, 2019:
Stock Rs.9,75.000
Trade debtors Rs.3,43,000
Outstanding expenses Rs.55,200
[v] Gross profit ratio of 10% on sales in maintained throughout the year.
You are required to prepare Trading and Profit & Loss account for the year ended 31st March, 2019, and
Balance Sheet as on that date.

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Q. 13 (Nov 2020) (10 Marks)
M/s Rohan & Sons runs a business of Electrical goods on wholesale basis. The books of accounts are closed
on 31s' March every year. The Balance Sheet as on 31st March, 2019 is as follows:
Liabilities Rs. Assets Rs.
Capital 12,50,000 PPE 6,50,000
Trade Creditors 1,90,000 Closing Stock 3,75,000
Profit & Loss A/c 1,45,000 Trade Debtors 3,65,000
Cash & Bank 1,95,000
15,85,000 15,85,000
The management estimates the purchase & sales for the year end 31st March, 2020 as under:
Particulars Upto 31.01.2020 February 2020 March 2020
(Rs.) (Rs.) (Rs.)
Purchases 16,20,000 1,40,000 1,25,000
Sales 20,75,000 2,10,000 1,75,000
All Sales and Purchases are on credit basis. It was decided to invest Rs.1,50,000 in purchase of Fixed assets
(PPE), which are depreciated @ 10% on book value. A Fixed Asset (PPE) of book value as on 01.04.2019,
Rs.60,000 was sold for Rs.56,000 on 31st March, 2020.
The time lag for payment to Trade Creditors for purchases is one month and receipt from Trade debtors
for sales is two months. The business earns a gross profit of 25% on turnover. The expenses against gross
profit amounts to 15% of the turnover. The amount of depreciation is not included in these expenses.
Prepare Trading & Profit & Loss Account for the year ending 31st March, 2020 and draft a Balance Sheet
as at 31s' March, 2020 assuming that creditors are all Trade creditors for purchases and debtors are all
Trade debtors for sales and there is no other current assets and liabilities apart from stock and cash and
bank balances.
Also, prepare Cash & Bank account and Fixed Assets (PPE) account for the year ending. 31st March, 2020.

Q.14 (Jan 2021) (10 Marks)

Mr. Prakash furnishes following information for his ready-made garments business:
(i) Receipts and Payments during 2019-20 :
Receipts Rs. Payments Rs.
Bank Balance as on 1-4-2019 16,250 Payment to Sundry Creditors 3,43,000
Received from Sundry Debtors 4,81,000 Salaries 75,000
Cash sales 1,70,800 General Expenses 22,500
Capital brought in the business 50,000 Rent and Taxes 11,800
during the year
Interest on Investment received 9,750 Drawings 96,000
Cash Purchases 1,22,750
Balance at Bank on 31-03-2020 36,600
Cash in hand on 31-03-2020 20,150
7,27,800 7,27,800

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(ii) Particulars of other Assets and Liabilities are as follows:

1st April, 2019 31st March, 2020

(Rs.) (Rs.)
Machinery 85,000 85,000
Furniture 24,500 24,500
Trade Debtors 1,55,000 ?
Trade Creditors 60,200 ?
Stock 38,600 55,700
12% Investment 85,000 85,000
Outstanding Salaries 12,000 14,000
(iii) Additional information:
(1) 20% of Total sales and 20% of total purchases are in cash.
(2) Of the Debtors, a slim of Rs.7,200 should be written off as Bad debt and further a reserve for
doubtful debts is to be provided @2%.
(3) Provide depreciation @ 10% p.a. on Machinery and Furniture.
You are required to prepare Trading and Profit & Loss account for the year ended 31st March, 2020, and
Balance Sheet as on that date.

Particulars 31.3.2021 (Rs.) 31.3.2022 (Rs.)

Building 3,00,000 3,00,000
Equipment 4,80,000 5,44,000
Furniture 50,000 50,000
Debtors ? 2,00,000
Creditors 1,30,000 ?
Stock ? 1,40,000
Bank loan 90,000 70,000
Cash 1,20,000 ?

Q. 15 (Dec 2021) (5 Marks)

Answer the following:
A Company sold 20% of the Goods on Cash Basis and the balance on Credit basis. Debtors are allowed 1.5
month's credit and their balance as on 31s! March, 2021 is Rs.1,50,000. Assume that sale is evenly spread
throughout the year.
Purchases during the year Rs.9,50,000.
Closing stock is Rs.10,000 less than the Opening Stock. Average stock maintained during the year
Rs.60,000.
Direct Expenses amounted to Rs.35,000.
Calculate Credit sales, Total sales and Gross profit for the year ended 31st March, 2021.

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Q. 16 (May 2022) (12 Marks)
Stevie and Alicia are in partnership sharing profits and losses equally.
They maintain their books on Single .Entry System.
The following balances are available from their books as on 31.3.2021 and 31.3.2022:
The transactions during the year ended 31.3.2022 were the following :

Particulars Rs.
Collection from Debtors 7,60,000
Payment to Creditors 5,00,000
Expenses Paid 80,000
Drawings by Stevie 60,000
Discount allowed 11,000
Discount received 9,600
Other information:
i. On 1.4.2021, an equipment of book value Rs.40,000 was sold for Rs.30,000. On 1.10.2021, some
more equipment were purchased.
ii. Cash sales amounted to 10% of total sales.
iii. Credit sales amounted to Rs.9,00,000.
iv. Credit purchases were 80% of total purchases.
v. Cash Purchases amounted to Rs.1,30,000.
vi. The firm sells goods at cost plus 25%.
vii. Outstanding expenses were Rs.6,000 as on 31.3.2022.
viii. Capital of Stevie as on 31.3.2021 was Rs.30,000 more than the capital of Alicia, equipment and
furniture to be depreciated at 10% p.a. and building @ 2% p.a. (apply depreciation of new equipment
for 1/2 year)
You are required to prepare:
(i) Trading and Profit and Loss Account for the year ended 31.3.2022 and;
(ii) The Balance Sheet as on that date.

Q. 17 (Nov 2018) (15 Marks)

Aman, a readymade garment trader, keeps his books of account under single entry system. On the closing
on 31st March, 2017 his statement of affairs stood as follows:

Liabilities Rs. Assets Rs.

Aman's capital 4,80,000 Building 3,25,000
Loan 1,50,000 Furniture 50,000
Creditors 3,10,000 Motor car 90,000
Stock 2,00,000
Debtors 1,70,000
Cash in hand 20,000
Cash at bank 85,000
9,40,000 9,40,000

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Riots occurred and a fire broke out on the evening of 31st March, 2018, destroying the books of accounts.
On that day, the cashier had absconded with the available cash. You are furnished with the following
information:
1. Sales for the year ended 31st March, 2018 were 20% higher than the previous year's sales, out of
which, 20% sales were for cash. He always sells his goods at cost plus 25%. There were no cash
purchases.
2. Collection from debtors amounted to Rs.14,00,000, out of which Rs.3,50,000 was received in cash.
3. Business expenses amounted to Rs.2,00,000, of which Rs.50,000 were outstanding on 31st March,
2018 and Rs.60,000 paid by cheques.
4. Gross profit as per last year's audited accounts was Rs.3,00,000.
5. Provide depreciation on building and furniture at 5% each and motor car at 20%.
6. His private records and the Bank Pass Book disclosed the following transactions for the year 2017-18:

Particulars Rs.
Payment to creditors (paid by cheques) 13,75,000
Personal drawings (paid by cheques) 75,000
Repairs (paid by cash) 10,000
Travelling expenses (paid by cash) 15,000
Cash deposited in bank 7,15,000
Cash withdrawn from bank 1,20,000
7. Stock level was maintained at Rs.3,00,000 all throughout the year.
8. The amount defalcated by the cashier is to be written off to the Profit and Loss Account.
You are required to prepare Trading and Profit and Loss A/c for the year ended 31st March, 2018 and
Balance Sheet as on that date of Aman. All the workings should form part of the answer.

Q.18 (July 2021) (10 Marks)

Mr. Arun runs a business of readymade garments. He closes the books of accounts on 31st March. The
Balance Sheet as on 31st March, 2020 was as follows:

Liabilities Rs. Assets Rs.

Capital A/c. 5,05,000 Furniture 50,000
Creditors 1,02,500 Closing Stock 3,50,000
Debtors 1,25,000
Cash in Hand 35,000
Cash at Bank 47,500
6,07,500 6,07,500
You are furnished with following information:
1. His sales, for the year ended 31st March, 2021 were 20% higher than the sales of previous year, out
of which 20% sales was cash sales. Total Sales during the year 2019-20 were Rs. 6,25,000
2. Payments for all the purchases were made by cheques only.
3. Goods were sold for cash and credit both. Credit customers pay by cheques only.
4. Deprecation on furniture is to be charged 10% p.a.

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5. Mr. Arun sent to the bank the collection of the month at the last date of each month after paying
salary of Rs.2,500 to the clerk, office expanses Rs.1,500 and personal expanses 625.
Analysis of bank pass book for the year ending 31st March, 2021 disclosed the following :

Particulars Rs.
Payment to creditors 3,75,000
Payment to rent up to 31st March, 2021 20,000
Cash deposited into bank during the year 1,00,000
The following are the balances on 31s' March, 2021:

Particulars Rs.
Stock 2,00,000
Debtors 1,50,000
Creditors for goods 1,82,500
On the evening of 31s' March, 2021, the cashier absconded with the available cash in the cash book.
You are required to prepare Trading and Profit and Loss A/c. for the year ended 31st March, 2021 and
Balance Sheet as on that date. All the working should form part of the answer.

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