Page 43 - VIRANSH COACHING CLASSES

Balance Sheet as on 31 March, 2019
st
Liabilities Amount ` Amount ` Assets Amount ` Amount `
Capital Account: Leasehold Property 25,000
Piyush 80,000 Investment 15,000
Add : Net profit 7,408 87,408 Fixed Deposit 15,000
Arun 80,000 Add : Interest Receivable 1,200 16,200
Add : Net Profit 7407 87,407 Furniture 20,200
Sundry Creditors 20,500 Less : Depreciation 5% 1010 19,190
Bank Overdraft 10,000 Sundry Debtors 43,000
Less : R.D.D. 2.5% 1075 41,925
Insurance Claim 600
Prepaid Advertisement 20,000
Cash in Hand 7,000
Cash at Bank 20,000
Closing Stock 35,000
2,05,315 2,05,315
5. M/s Sudarshan Traders is a Partnership Firm in which, Ram and Krushna are partners
sharing Profits and Losses in the ratio 3:2. From the following Trial Balance prepare Final
Account for the year 2018-19:
Trial Balance as on 31 March, 2019
st
Particulars Debit ` Credit `
Opening Stock 36,000
Capital A/C :
Ram 1,60,000
Krushna 80,000
Current A/C :
Ram 8,000
Krushna 4,000
Purchases 1,00,000
Sales 2,08,000
Sundry Debtors 1,73,500
Sundry Creditors 41,800
Bills Receivable 47,000
Bills Payable 21,000
Commission 2,800
Wages 1,760
Salaries 3,000
Furniture 25,000
Plant and Machinary 63,000
R.D.D. 1,000
Investment 10,500
Loans and Advances Given 35,240
Insurance 2,500
Bad debts 500
12% Govt. Bonds (Purchased on 1.1.2019) 15,000
5,19,800 5,19,800

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