Page 39 - VIRANSH COACHING CLASSES

Adjustments :
(1) Closing Stock is valued at ` 88,000 (Cost Price) and ` 90,000 (Market Price)
(2) Rucha and Juili withdrawn from business ` 3000 and ` 2000 respectively for their personal use.
(3) Depreciate Motor Van by 5% and Plant and Machinery by 7%.
(4) Reserve for Doubtful Debts on Debtors @ 5% is to be created.
(5) Outstanding Wages ` 800.
(6) Goods of ` 6000 were purchased on credit but no entry was found in the Books of Account.
IN THE BOOKS OF RUCHA AND JUILI
Trading and Profit and Loss Account for the year ended 31st March 2019
st
Balance Sheet as on 31 March, 2019
Dr. Cr.
Particulars Amount Amount Particulars Amount Amount
` ` ` `
To Opening Stock 89,500 By Sales 1,48,000
To Purchases 48,000 Add : Unrecorded 6,000
Add : Unrecorded 6,000 Sales
Purchases 1,54,000
54,000 Less : Sales Return 8,000 1,46,000
Less : Purchases Return 6,000 48,000 By Closing Stock 88,000
To Wages and Salaries 2,800 By Goods withdrawn
Add : Outstanding Wages 800 3,600 by Partners :
To Trade Expenses 3,000 Rucha 3,000
To Coal, Gas Fuel 1,000 Juili 2,000 5,000
To Carriage Inward 800
To Gross Profit c/d 93,100
2,39,000 2,39,000

To Salaries 4,500 By Gross Profit b/d 93,100
To Depreciation
Motor Van 2,000
Plant and Machinery 966 2,966
To R.D.D. (New) 3,400
Less : R.D.D. (Old) 1,200 2,200
To Advertisement 4,000
Less : Prepaid Advt. 2,000 2,000
To Office Rent 5,000
To General Expenses 2,500
To Carriage Outword 1,300
To Net Profit (Transferred
to Capital A/c's)
Rucha 48,423
Juili 24,211 72,634
93,100 93,100

30