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12th Standard Accountancy English Medium - Accounts From Incomplete Records 5 Mark Book Back Question Paper and Answer Key 2022 - 2023

Published on: 30/08/2022

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Questions:

Generic 5

15 x 5 = 75

Selvam does not keep his books under double entry system. From the following information prepare trading and Profit and loss A/c and Balance Sheet as on 31-12-2018

Particulars	1-1-2018 Rs.	31-12-2018 Rs.
Machinery	60,000	60,000
Cash at bank	25,000	33,000
Sundry debtors	70,000	1,00,000
Stock	45,000	22,000
Bills receivable	20,000	38,000
Bank loan	45,000	45,000
Sundry creditors	25,000	21,000

Particulars	Rs.	Particulars	Rs.
Cash sales	20,000	Credit sales	1,80,000
Cash purchases	8,000	Credit purchases	52,000
Wages	6,000	Salaries	23,500
Advertisement	7,000	Interest on bank loan	4,500
Drawings	60,000	Additional capital	21,000

Adjustments:
Write off depreciation of 10% on machinery. Create a reserve of 1% on debtors for doubtful debts.

Arun carries on hardware business and does not keep his books on double entry basis. The following particulars have been extracted from his books:.

Particulars	31.12.2017 Rs.	31.12.2018 Rs.
Land and building	2,40,000	2,40,000
Stock-in-trade	1,20,000	1,70,000
Debtors	40,000	51,500
Creditors	50,000	45,000
Cash at bank	30,000	53,000

Other information for the year ending 31.12.2018 showed the following:

	Rs.
Wages	65,000
Carriage outwards	7,500
Sundry expense	28,000
Cash paid to creditors	6,00,000
Drawings	10,000

Total sales during the year were Rs. 7,70,000. Purchases returns during the year were Rs. 30,000 and sales returns were Rs. 25,000. Depreciate land and buildings by 5%. Provide Rs. 1,500 for doubtful debts. Prepare trading and profit and loss account for the year ending 31^st December, 2018 and a balance sheet as on that date.

Mary does not keep her books under double entry system. From the following details prepare trading and profit and loss account for the year ending 31^st March, 2019 and a balance sheet as on that date.
Dr. Cash Book Cr. Particulars Rs. Particulars Rs. To Balance b/d 1,20,000 By Purchases 1,50,000 To Sales 3,60,000 By Creditors 2,50,000 To Debtors 3,40,000 By Wages 70,000 By Sundry expenses 1,27,000 By Balance c/d 2,23,000 8,20,000 8,20,000 Other information
Particulars 1.4.2018 31.3.2019 Stock of goods 1,10,000 1,80,000 Sundry Debtors 1,30,000 ? Sundry Creditors 1,60,000 90,000 Furniture and fittings 80,000 80,000 Additional information
Credit purchases 1,80,000
Credit sales 2,90,000
Opening capital 2,80,000
Depreciate furniture and fittings by 10% p.a.

From the following details of Rakesh, prepare Trading and Profit and Loss account for the year ended 31st March, 2019 and a Balance Sheet as on that date.

Particulars	31.3.2018 Rs.	31.3.2019 Rs.
Stock of goods	2,20,000	1,60,000
Debtors	5,30,000	6,40,000
Cash at bank	60,000	10,000
Machinery	80,000	80,000
Sundry creditors	3,70,000	4,20,000

Other details:

Particulars	Rs.	Particulars	Rs.
Rent paid	1,20,000	Cash received from debtors	12,50,000
Discount received	35,000	Drawings	1,00,000
Discount allowed	25,000	Cash sales	20,000
Cash paid to creditors	11,00,000	Capital as on 1.4.2018	5,20,000

From the following details you are required to calculate credit sales and credit purchases by preparing total debtors account, total creditors account, bills receivable account and bills payable account

Particulars	Rs.	Particulars	Rs.
Balances as on 1st April 2018		Balances as on 31st March 2019
Sundry debtors	2,40,000	Sundry debtors	2,20,000
Bills receivable	30,000	Sundry creditors	1,50,000
Sundry creditors	1,20,000	Bills receivable	8,000
Bills payable	10,000	Bills payable	20,000
Other information	Rs.
Cash received from debtors	6,00,000	Payments against bill payable	30,000
Discount allowed to customers	25,000	Cash received for bills receivable	60,000
Cash paid to creditors	3,20,000	Bills receivable dishonoured	4,000
Discount allowed by suppliers	10,000	Bad debts	16,000

Ananth does not keep his books under double entry system. Find the profit or loss made by him for the year ending 31^st March, 2019.

Particulars	31.3.2018 Rs.	31.3.2019 Rs.
Cash at Bank	5,000 (Dr.)	60,000 (Cr.)
Cash in hand	3,000	4,500
Stock of goods	35,000	45,000
Sundry Debtors	1,00,000	90,000
Plant and Machinery	80,000	80,000
Land and Buildings	1,40,000	1,40,000
Sundry Creditors	1,70,000	1,30,000

Ananth had withdrawn Rs. 60,000 for his personal use. He had introduced Rs. 17,000 as capital for expansion of his business. Create a provision of 5% on debtors. Plant and machinery is to be depreciated at 10%.

Raju does not keep proper books of accounts. Following details are taken from his records.

Particulars	1.1.2018 Rs.	31.12.2018 Rs.
Cash at bank	80,000	90,000
Stock of goods	1,80,000	1,40,000
Debtors	90,000	2,00,000
Sundry creditors	1,30,000	1,95,000
Bank Loan	60,000	60,000
Bills payable	80,000	45,000
Plant and machinery	1,70,000	1,70,000

During the year he introduced further capital of Rs. 50,000 and withdrew Rs. 2,500 per month from the business for his personal use. Prepare statement of profit or loss with the above information

Differentiate between statement of affairs and balance sheet.

State the differences between double entry system and incomplete records.

10.

Pandian does not keep his books under double entry system. From the following information prepare trading and profit and loss account

	1-1-2018 Rs.	31-12-2018 Rs.
Furniture	30,000	30,000
Cash in hand	10,000	17,000
Debtors	40,000	60,000
Stock	28,000	11,000
Bills receivable	12,000	35,100
Bank loan	25,000	25,000
Creditors	15,000	16,000

	Rs.		Rs.
Cash sales	11,200	Credit sales	88,800
Cash purchases	4,250	Credit purchases	35,750
Carriage on purchases	3,000	Carriage on sales	700
Commission received	600	Interest on bank loan	2,500
Drawings	8,000	Additional capital	14,000
Salaries	8,900	Office rent	2,400

Adjustments:
Write off depreciation of 5% on furniture. Create a provision of 1% on debtors for doubtful debts.

11.

Arjun carries on grocery business and does not keep his books on double entry basis. The following particulars have been extracted from his books:

Particulars	1-4-2018 Rs.	31-3-2019 Rs.
Plant and machinery	20,000	20,000
Stock	9,000	16,000
Sundry debtors	2,000	5,300
Sundry creditors	5,000	4,000
Cash at bank	4,000	6,000

Other information for the year ending 31-3-2019 showed the following

	Rs.
Advertising	4,700
Carriage inwards	8,000
Cash paid to creditors	64,000
Drawings	2,000

Total sales during the year were Rs. 85,000. Purchases returns during the year were Rs. 2,000 and sales returns were Rs.1,000. Depreciate plant and machinery by 5%. Provide Rs. 300 for doubtful debts. Prepare trading and profit and loss account for the year ending 31st March, 2019 and a balance sheet as on the date.

12.

Bharathi does not maintain her books of accounts under double entry system. From the following details prepare trading and profit and loss account for the year ending 31^st March, 2019 and a balance sheet as on that date.

**Dr. Cash Book Cr.**
Receipts	Rs.	Payments	Rs.
To balance b/d	32,000	By Purchases A/c	56,000
To Sales A/c	1,60,000	By Creditors A/c	80,000
To Debtors A/c	1,20,000	By General expenses A/c	24,000
		By Wages A/c	10,000
		By Balance c/d	1,42,000
	3,12,000		3,12,000

Other Information:

Particulars	1.4.2018 Rs.	31.3.2019 Rs.
Stock of goods	40,000	60,000
Debtors	38,000	?
Creditors	58,000	52,000
Machinery	1,70,000	1,70,000

Additional information:	Rs
(i) Credit purchases	74,000
(ii) Credit sales	1,40,000
(iii) Opening capital	2,22,000
(iv) Depreciate machinery by 10% p.a.

13.

From the following details of Abdul who maintains incomplete records, prepare Trading and Profit and Loss account for the year ended 31^st March, 2018 and a Balance Sheet as on the date.

Particulars	1.4.2017 Rs.	31.3.2018 Rs.
Stock	1,00,000	50,000
Sundry debtors	2,50,000	3,50,000
Cash	25,000	40,000
Furniture	10,000	10,000
Sundry creditors	1,50,000	1,75,000

Other details:
	Rs.		Rs.
Drawings	40,000	Cash received from debtors	5,35,000
Discount received	20,000	Sundry expenses	30,000
Discount allowed	25,000	Capital as on 1.4.2017	2,35,000
Cash paid to creditors	4,50,000

14.

Particulars	Opening Rs.	Closing Rs.
Debtors	60,000	55,000
Bills receivable	5,000	1,000
Creditors	25,000	28,000
Bills payable	2,000	3,000
Other information
Cash received from debtors		1,30,000
Discount allowed to customers		5,500
Cash paid to creditors		70,000
Discount allowed by suppliers		3,500
Payments against bill payable		7,000
Cash received for bills receivable		14,000
Bills receivable dishonoured		1,200
Bad debts		3,500

15.

Ahmed does not keep proper books of accounts. Find the profit or loss made by him for the year ending 31^st March, 2018.

Particulars	1.4.2017 Rs	31.3.2018 Rs
Bank balance	14,000 (Cr.)	18,000 (Dr.)
Cash in hand	800	1,500
Stock	12,000	16,000
Debtors	34,000	30,000
Plant	80,000	80,000
80,000	40,000	40,000
Creditors	60,000	72,000

Ahmed had withdrawn Rs. 40,000 for his personal use. He had introduced Rs.16,000 as capital for expansion of his business. A provision of 5% on debtors is to be made. Plant is to be depreciated at 10%.

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Answers Key:

Generic 5

15 x 5 = 75

In the books of selvam Statement of affairs as on
1^st January 2018
Liabilities	Rs.	Assets	Rs.
Bank Loan	45,000	Machinery	60,000
Sundry creditors	25,000	Cash at bank	25,000
Opening capital	1,50,000	Sundry debtors	70,000
(Balancing figure)		Stock	45,000
		Bills receivable	20,000
	2,20,000		2,20,000

**Dr Bills receivable account Cr**
Particulars	Rs.	Rs.	Assets	Rs.	Rs.
To Opening stock		45,000	By Sales
To Purchase			Cash	20,000
Cash	8,000		Credit	1,80,000	2,00,000
Credit	52,000	60,000	By Closing stock		22,000
To Wages		6,000
To Gross profit c/d		1,11,000
		2,22,000			2,22,000
To Advertisement		7,000	By Gross profit b/d		1,11,000
To Salaries		23,500
To Depreciation 10%		6,000
To Reserve on debtors 1 %		1,000
To Interest on bank loan		4,500
To Net profit transfered to capital alc		69,000
		1,11,000			1,11,000

**Balance sheet as on 31st December 2018**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Bank loan		45,000	Machinery	60,000
Sundry creditors		21,000	Less: Depreciation 10%	6,000	54,000
Capital	1,50,000		Cash at bank		33,000
Add: Net profit	69,000		Sundry debtors	1,00,000
	2,19,000		Less: Reserve for doubtful		99,000
Add: Additional			debts	1,000
capital	21,000		Closing stock		22,000
	2,40,000		Bills receivable		38,000
Less: Drawings	60,000	1,80,000
		2,46,000			2,46,000

In the books of Arun Statement of affairs as on
1^st December 2018
Liabilities	Rs.	Assets	Rs.
Creditors	50,000	Land and Building	2,40,000
Opening capital	3,80,000	Stock in trade	1,20,000
(balancing figure)		Debtors	40,000
	4,30,000		4,30,000

Dr Total Creditors account Cr
Particulars	Rs.	Particulars	Rs
To Cash (paid)	6,00,000	By Balance b/d	50,000
To Purchase returns	30,000	By Credit purchases	6,25,000
To Balance c/d	45,000	(balancing figure)
	6,75,000		6,75,000

**Dr Trading and Profit and loss account for the year ended 31^st December 2018 Cr**
Particulars	Rs.	Rs.	Particulars	Rs	Rs.
To Opening stock		1,20,000	By sales	7,70,000
To Purchases credit	6,25,000		Less: Sales returns	25,000	7,45,000
Less: Purchase returns	30,000	5,95,000	By Closing stock		1,70,000
To Wages		65,000
To Gross profit c/d		1,35,000
		9,15,000			9,15,000
To Carriage outwards		7,500	By Gross profits c/d		1,35,000
To Sundry expenses		28,000
To Depreciation on land and building @ 5%		12,000
To Provision for doubtful debts		1,500
To Net profit transfered		86,000
		1,35,000			1,35,000

Balance sheet as on 31st December 2018
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	3,80,000		Land and buildings	2,40,000
Add: Net profit	86,000		Less: Depreciation 5%	12,000	2,28,000
	4,66,000		Closing stock		1,70,000
Less: Drawings	10,000	4,56,000	Debtors	51,500
			Less: Provision for debtors	1,500	50,000
Creditors		45,000	Cash at bank		53,000
		5,01,000			5,01,000

Dr. In the books of Mary Total Debtors account Cr. Particulars Rs. Particulars Rs To Balance b/d 1,30,000 By Cash (received) 3,40,000 To Sales (Credit) 2,90,000 By Balance c/d 80,000 (balancing figure) 4,20,000 4,20,000 To Balance b/d 80,000 Dr. Trading and Profit and loss account for the year ended 31^st March 2019 Cr. Particulars Rs. Rs. Particulars Rs. Rs To Opening stock 1,10,000 By Sales To Purchases Cash 3,60,000 Cash 1,50,000 Credit 2,90,000 6,50,000 Credit 1,80,000 3,30,000 By Closing stock 1,80,000 To Wages 70,000 To Gross profit c/d 3,20,000 8,30,000 8,30,000 To Sundry expenses 1,27,000 By Gross profits b/d 3,20,000 To Depreciation on machinery 10% 8,000 To Net profit transfered to capital a/c 1,85,000 3,20,000 3,20,000 Balance sheet as on 31^st March 2019 Liabilities Rs. Rs. Assets Rs. Rs Capital 2,80,000 Cash 2,23,000 Add: Net profit 1,85,000 4,65,000 Stock of goods 1,80,000 Debtors 80,000 Creditors 90,000 Furniture and fittings 80,000 Less: Depreciation 8,000 72,000 5,55,000 5,55,000

Dr Total Debtors account Cr
Particulars	Rs.	Particulars	Rs
To Balance b/d	5,30,000	By Cash received	12,50,000
To Credit sales	13,85,000	By Discounts allowed	25,000
(balancing figure)		By Balance c/d	6,40,000
	19,15,000		19,15,000

Dr Total Creditors account Cr
Particulars	Rs.	Particulars	Rs
To Cash (paid)	11,00,000	By Balance b/d	3,70,000
To Discount received	35,000	By Credit purchases	11,85,000
To Balance c/d	4,20,000	(balancing figure)
	15,55,000		15,55,000

Dr. In the Books of Rakash Trading and Profit and loss account for the year ended 31st March 2019 Cr.
Particulars	Rs.	Particulars	Rs
To Opening stock	2,20,000	By Sales
To Purchases	11,85,000	Cash sales 20,000
To Gross profit c/d	1,60,000	Credit sales 13,85,000	14,05,000
		By Closing stock	1,60,000
	15,65,000		15,65,000
To Rent paid	1,20,000	By Gross Profit b/d	1,60,000
To Discount allowed	25,000	By Discount received	35,000
To Net profit (transferred to capital account)	50,000
	1,95,000		1,95,000

Balance sheet as on 31st March 2019
Liabilities	Rs.	Rs.	Assets	Rs.
Sundry creditors		4,20,000	Debtors	6,40,000
Capital	5,20,000		Cash at bank	10,000
Add: Net profit	50,000		Machinery	80,000
	5,70,000		Closing stock	1,60,000
Less: Drawings	1,00,000	4,70,000
		8,90,000		8,90,000

Dr Bills receivable account Cr
Particulars	Rs.	Particulars	Rs
To Balance b/d	30,000	By Cash	60,000
To Debtors	42,000	By Debtors	4,000
(Bills received - balancing figure)		(Bills receivable dishonoured) By Balance c/d	8,000
	72,000		72,000

Dr Total Debtors account Cr
Particulars	Rs.	Particulars	Rs
To Balance b/d	2,40,000	By Cash received	6,00,000
To Bills receivable	4,000	By Discount allowed	25,000
(dishonored)		By Bad debts	16,000
To Sales (credit)	6,59,000	By Bills receivable	42,000
(balancing figure)		(bills received)
		By Balance c/d	2,20,000
	9,03,000		9,03,000

Dr Bills payable account Cr
Particulars	Rs.	Particulars	Rs
To Cash (Bills paid)	30,000	By Balance b/d	10,000
To Balance c/d	20,000	By Sundry creditors	40,000
		(Bills accepted balancing figure)
	50,000		50,000

Dr Total Creditors account Cr
Particulars	Rs.	Particulars	Rs
To Cash (paid)	3,20,000	By Balance b/d	1,20,000
To Discount received	10,000	By purchases (credit)	4,00,000
To Bills payable	40,000	(balancing figure)
(Bills accepted)
To Balance c/d	1,50,000
	5,20,000		5,20,000

Calculation of opening capital:

**In the books of Ananth Statement of affairs as on 31.3.2018**
Liabilities	Rs.	Assets	Rs.
Sundry creditors	1,70,000	Cash at bank	5,000
Capital (Balancing figure)	1,93,000	Cash in hand	3,000
		Stock of goods	35,000
		Sundry Debtors	1,00,000
		plant and machinery	80,000
		Land and buildings	1,40,000
	3,63,000		3,63,000

Calculation of dosing capital:

**Statement of affairs as on 31.3.2019**
Liabilities	Rs.	Assets	Rs.	Rs.
Bank balance (Bank overdraft)	60,000	Cash in hand		4,500
		Stock of goods		45,000
Sundry creditors	1,30,000
Capital (Balancing figure)	1,57,000	Sundry debtors	90,000
		Less :Provision on debtors 5%	4,500	85,000
		Plant and machinery	80,000
		Less : Depreciation 10%	8,000	72,000
		Land and Buildings		1,40,000
	3,47,000			3,47,000

Statement of profit or loss for the year ending
31^st March 2019
Particulars	Rs.
Closing capital as on 31.3.2019	1,57,000
Add: Drawings during the year	60,000
	2,17,000
Less: Additional capital introduced during the year	17,000
Adjusted dosing capital	2,00,000
Less: Opening capital as on 31.03.2018	1,93,000
Profit for the year ending 31.3.2019	7,000

In the book of Raju
Calculation of opening capital:

**Statement of affairs as on 1.1.2018**
Liabilities	Rs.	Assets	Rs.
Sundry creditors	1,30,000	Cash at bank	80,000
Bank loan	60,000	Stock of goods	1,80,000
Bills payable	80,000	Debtors	90,000
Capital (Balancing figure)	2,50,000	plant and machinery	1,70,000
	5,20,000		5,20,000

Calculation of closing capital:

**Statement of affairs as on 1.1.2018**
Liabilities	Rs.	Assets	Rs.
Sundry creditors	1,95,000	Cash at bank	90,000
Bank loan	60,000	Stock of goods	1,40,000
Bills payable	45,000	Debtors	2,00,000
Capital (Balancing figure)	3,00,000	Plant and machinery	1,70,000
	6,00,000		6,00,000

Statement of profit loss for the year ending
31^st December 2018
Particulars	Rs.
Closing capital as on 31.12.2018	3,00,000
Add: Drawings during the year (2500 \(\times\) 12)	30,000
	3,30,000
Less: Additional capital introduced during the year	50,000
Adjusted closing capital	2,80,000
Less: Opening capital as on 01.01.2018	2,50,000
Profit made during the year	30,000

S.No	Basis of distinction	Statement of affairs	Balance Sheet
1.	Objective	Statement of affairs is prepared to find out the capital of the business.	Balance sheet is prepared to ascertain the financial position of the business.
2.	Accounting system	Statement of affairs is prepared when double entry system is not strictly followed	Balance sheet is prepared when accounts are maintained under double entry system.
3.	Basis of preparation	It is not fully based on ledger balances.	It is prepared exclusively on the basis of ledger balances
4.	Reliability	It is not reliable as it is based on incomplete records	It is reliable as it prepared under double entry system.
5.	Missing items	It is difficult to trace the items omitted as complete records are not maintained.	Since both the aspects of all transactions are duly recorded, items omitted can be traced easily.

S.No	Basis of distinction	Double entry system	Incomplete records
1.	Recording of transaction	Both debit and credit aspect of all the transaction are recorded.	Debit and credit aspect of all the transaction are not recorded completely for some transaction. both aspect are entered some transaction are particularly recorded and some transaction are omitted to be.
2.	Type of account maintained	Personal, real and nominal accounts are maintained fully	In General, only personal and cash account are maintained fully real and nominal account are not maintained fully.
3.	Preparation of trial balance	Trial balance can be prepared to check the arithmetical accuracy of the entries made in the books of accounts.	It is difficult to prepared the trial balance to check arithmetical accuracy of entries made in the books of account as the account are incomplete.
4.	Suitability	trading and profit or loss account can be prepared to find out the true profit or loss.	Trading and profit and loss account cannot be prepared with accuracy as complete. information is not available and hence profit or loss found out may not be accurate.
5.	Reliability	Balance sheet can be prepared to know the true financial position.	Balance sheet cannot be prepared with accuracy and true financial position cannot be ascertained. as the asset and liabilities are just estimate and incomplete.

10.

**In the books of Pandian Statement of affairs as on 1^st January, 2018**
Liabilities	Rs.	Assets	Rs.
Creditors	15,000	Cash in hand	10,000
Bank loan	25,000	Stock	28,000
Opening capital	80,000	Debtors	40,000
(balancing figure)		Bills receivable	12,000
		Furniture	30,000
	1,20,000		1,20,000

**Dr. Trading and Profit and Loss Account for the year ended 31^st December, 2018 Cr.**
Particulars		Rs.	Particulars		Rs.
To Opening stock		28,000	By Sales
To Purchases			Cash	11,200
Cash	4,250		Credit	88,800	1,00,000
Credit	35,750	40,000	By Closing stock		11,000
To Gross profit c/d		40,000
		1,11,000			1,11,000
To Salaries		8,900	By Gross Profit b/d		40,000
To Carriage on sales		700	By Commission received		600
To Office rent		2,400
To Interest on bank loan		2,500
To Depreciation on furniture		1,500
To Provision for doubtful debts		600
To Net profit transferred to capital a/c		24,000
		40,600			40,600

**Balance Sheet as on 31^st December, 2018**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	80,000		Cash in hand		17,000
Add: Net profit	24,000		Stock		11,000
	1,04,000		Debtors	60,000
Add: Additional capital	14,000		Less: Provision for doubtful debts	600	59,400
	1,18,000		Bills receivable		35,100
Less: Drawings	8,000	1,10,000	Furniture	30,000
Bank loan		25,000	Less: Depreciation	1,500	28,500
Creditors		16,000
		1,51,000			1,51,000

11.

**In the books of Arjun Statement of affairs as on 1^st April, 2018**
Liabilities	Rs.	Assets	Rs.
Creditors	5,000	Cash at bank	4,000
Opening capital	30,000	Stock	9,000
(balancing figure)		Sundry debtors	2,000
		Plant and machinery	20,000
	35,000		35,000

**Dr. Total creditors account Cr.**
Particulars	Rs.	Particulars	Rs.
To Cash A/c (paid)	64,000	By Balance b/d	5,000
To Purchases returns	2,000	By Purchases A/c (credit)	65,000
To Balance c/d	4,000	(balancing figure)
	70,000		70,000

**Dr. Trading and Profit and Loss Account for the year ended 31^st March, 2019 Cr.**
Particulars		Rs.	Particulars		Rs.
To Opening stock		9,000	By Sales	85,000
To Purchases			Less Returns	1,000	84,000
Credit	65,000		By Closing stock		16,000
Less Returns	2,000	63,000
To Carriage inwards		8,000
To Gross profit c/d		20,000
		1,00,000			1,00,000
To Advertising		4,700	By Gross Profit b/d		20,000
To Depreciation on machinery		1,000
To Provision for doubtful debts		300
To Net profit transferred to capital a/c		14,000
		20,000			20,000

**Balance Sheet as on 31^st March, 2019**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	30,000		Cash at bank		6,000
Add: Net profit	14,000		Stock		16,000
	44,000		Sundry debtors	5,300
Less: Drawings	2,000	42,000	Less: Provision	300	5,000
Sundry creditors		4,000	Plant and Machinery	20,000
			Less: Depreciation	1,000	19,000
		46,000			46,000

12.

Dr. In the books of Bharathi
Total debtors account Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	38,000	By Cash A/c (received)	1,20,000
To Sales A/c (credit)	1,40,000	By Balance c/d (balancing figure)	58,000
	1,78,000		1,78,000
To Balance b/d	58,000

**Dr. Trading and Profit and Loss Account for the year ended 31st March, 2019 Cr.**
Particulars		Rs.	Particulars		Rs.
To Opening stock		40,000	By Sales
To Purchases			Cash	1,60,000
Cash	56,000		Credit	1,40,000	3,00,000
Credit	74,000	1,30,000	By Closing stock		60,000
To Wages		10,000
To Gross profit c/d		1,80,000
		3,60,000			3,60,000
To General expenses		24,000	By Gross profit b/d		1,80,000
To Depreciation on machinery		17,000
To Net profit transferred to capital a/c		1,39,000
		1,80,000			1,80,000

**Balance Sheet as on 31st March, 2019**
Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital	2,22,000		Cash		1,42,000
Add: Net profit	1,39,000	3,61,000	Stock of goods		60,000
Creditors		52,000	Debtors		58,000
			Machinery	1,70,000
			Less: Depreciation	17,000	1,53,000
		4,13,000			4,13,000

13.

Dr. Total debtors account Cr.
Particulars	Rs	Particulars	Rs.
To Balance b/d	2,50,000	By Cash A/c (received)	5,35,000
To Sales A/c (credit) (balancing figure)	6,60,000	By Discount allowed A/c	25,000
		By Balance c/d	3,50,000
	9,10,000		9,10,000

Dr. Total creditors account Cr.
Particulars	Rs	Particulars	Rs
To Cash A/c (paid)	4,50,000	By Balance b/d	1,50,000
To Discount received A/c	20,000	By Purchases A/c (credit)	4,95,000
To Balance c/d	1,75,000	(balancing figure)
	6,45,000		6,45,000

In the books of Abdul

Dr. Trading and Profit and loss account for the year ended 31st March, 2018 Cr.
Particulars	Rs	Particulars	Rs.
To Opening stock	1,00,000	By Sales	6,60,000
To Purchases	4,95,000	By Closing stock	50,000
To Gross profit c/d	1,15,000
	7,10,000		7,10,000
To Discount allowed	25,000	By Gross profit b/d	1,15,000
To Sundry expenses	30,000	By Discount received	20,000
To Net profit (transferred to capital account)	80,000
	1,35,000		1,35,000

Balance Sheet as on 31st March, 2018
Liabilities	Rs.	Rs.	Assets	Rs.
Sundry creditors		1,75,000	Cash	40,000
Capital	2,35,000		Furniture	10,000
Add: Net profit	80,000		Stock	50,000
	3,15,000		Debtors	3,50,000
Less: Drawings	40,000	2,75,000
		4,50,000		4,50,000

14.

Dr. Bills receivable account Cr.
Particulars	Rs	Particulars	Rs
To Balance b/d	5,000	By Cash A/c	14,000
To Debtors A/c	11,200	By Debtors A/c	1,200
(Bills received - balancing figure )		(bills receivable dishonoured) By Balance c/d	1,000
	16,200		16,200

Dr. Total debtors account Cr.
Particulars	Rs	Particulars	Rs
To Balance b/d	60,000	By Cash A/c (received)	1,30,000
To Bills receivable A/c (dishonoured)	1,200	By Discount allowed A/c	5,500
To Sales A/c (credit)	1,44,000	By Bad debts A/c	3,500
(balancing figure)		By Bills receivable A/c	11,200
		(bills received) By Balance c/d	55,000
	2,05,200		2,05,200

Dr. Bills payable account Cr
Particulars	Rs	Particulars	Rs
To Cash A/c (bills paid)	7,000	By Balance b/d	2,000
To Balance c/d	3,000	By Sundry creditors A/c (bills accepted – balancing figure)
			8,000
	10,000		10,000

Dr. Total creditors account Cr.
Particulars	Rs	Particulars	Rs
To Cash A/c (paid )	70,000	By Balance b/d	25,000
To Discount received A/c	3,500	By Purchases A/c (credit)	84,500
To Bills payable A/c (bills accepted)	8,000	(balancing figure)
To balance c/d	28,000
	1,09,500		1,09,500

15.

In the books of Ahmed
Calculation of opening capital

**Statement of affairs as on 31^st March, 2017**
Liabilities	Rs	Assets	Rs
Bank overdraft	14,000	Cash in hand	800
Creditors	60,000	Stock	12,000
Capital (balancing figure)	92,800	Debtors	34,000
		Plant	80,000
		Furniture	40,000
	1,66,800		1,66,800

Calculation of closing capital

**Statement of affairs as on 31^st March, 2018**
Liabilities	Rs	Assets	Rs	Rs
Creditors	72,000	Bank balance		18,000
Capital (balancing figure)	1,04,000	Cash in hand		1,500
		Stock		16,000
		Debtors	30,000
		Less: Provision for doubtful
		debts @ 5%	1,500	28,500
		Plant	80,000
		Less: Depreciation	8,000	72,000
		Furniture		40,000
	1,76,000			1,76,000

**Statement of profit or loss for the year ending 31st March, 2018**
Particulars	Rs
Closing capital as on 31.3.2018	1,04,000
Add: Drawings during the year	40,000
	1,44,000
Less: Additional capital introduced during the year	16,000
Adjusted closing capital	1,28,000
Less: Opening capital as on 31.3.2017	92,800
Profit for the year ending 31.3.2018	35,200