Junior Inter Commerce Study Material

VSAQ-1st-Yr-commerce

 

 

 

 

 

 

 

SAQ and LAQ

JUNIOR INTER ACCCOUNTS PROBLEMS

1. Write journal entries for the following transactions.
1. Brought cash into business                               Rs. 5000
2. Sold goods to Ashok                                      Rs. 1000
3. Received interest                                             Rs.   650
4. Paid rent                                                           Rs. 500
5. Purchased furniture                                         Rs. 3000
6. Bought goods from Ranga                              Rs. 1000
7. Paid salaries                                                    Rs. 500
8. Cash sales                                                     Rs. 1000
9. Purchases                                                      Rs. 2000
10. Cash paid to Santhi                                      Rs. 1000
11. Wages paid                                                    Rs. 500
12. Machinery sold                                            Rs. 5000
13. Cash paid into bank                                    Rs. 1000
14. Cash withdrawn from bank                           Rs. 500
15. Drawings                                                   Rs. 1000
16. Goods used for personal use                      Rs. 1500
17. Rent paid by cheque                                  Rs. 1000
18. Cash received from Hari                              Rs. 500
19. Goods returned to Ravi                               Rs. 200
20. Goods returned from Mahesh                      Rs. 5002. Prepare Gopal account from the following data.
August 5    Balance due from Gopal                              Rs. 1200
8    Purchased goods from Gopal                              Rs.   500
10    Sold goods to Gopal                                           Rs. 900
15    Paid cash to Gopal                                             Rs. 400
20    Received cash from Gopal                                 Rs. 600

3. Prepare Rajesh Account in the books of Rajesh.
December 1    Purchases from Rajesh                          Rs. 2000
3    Sales to Rajesh                                        Rs. 10000
6    Returned goods to Rajesh                        Rs.     600
10    Cheque received from Rajesh                    Rs. 1500
15  Goods purchased from Rajesh                     Rs. 3000
20  Cash paid to Rajesh                                    Rs. 6000
31  Sales to Rajesh                                             Rs. 800

4. Prepare Vikram account in the books of Ravi.
January 1    Purchased goods from Vikram                            Rs. 5000
3    Cash paid to Vikram                                                 Rs. 2500
5    Goods returned to Vikram                                           Rs. 500
7    Sold goods to Vikram for cash                                  Rs. 2500
9    Sold goods to Vikram                                               Rs. 3500
11    Goods returned by Vikram                                         Rs. 500
13    Purchased goods from Vikram                                   Rs. 500
31    Account of Vikram settled with 10% discount.

5. Prepare Kumar account .
December 1    Purchases from Kumar                                       Rs.40000
3    Sales to Kumar                                                      Rs. 20000
6    Returned goods to Kumar                                      Rs.     500
10    Cheque received from Kumar                                  Rs. 1500
15  Goods purchased from Kumar                                  Rs.  4000
20  Cash paid to Kumar                                                  Rs. 6000
31  Sales to Kumar                                                         Rs.   600

6. Prepare Raja account in the books of Ramu.
January 1    Balance due to Raja                                              Rs. 10000
3    Cash sales to Raja                                                         Rs. 3000
5    Goods sold to Raja                                                       Rs. 8000
7    Goods  returned to Ravi                                                Rs. 2500
9    Goods  returned to Raja                                                Rs. 2000
31    Raja account settled with 5% discount.

7. Prepare Ravindra account from the following information.
January 1    Balance due from Ravindra                                     Rs. 8000
3    Cash sales to Ravindra                                                  Rs. 2800
5    Goods returned by Hari                                                  Rs. 100
7    Ravi purchased goods purchased from us                      Rs. 4800
9    Goods returned from Ravindra                                       Rs. 600
22    Cash purchases                                                           Rs. 2400
31    Settled Ravindra account with a discount of                      Rs. 40

8. Prepare Purchases book from the following information.
September 9    Purchases from Ramesh                                 Rs. 1200(Trade discount 5%)
11    Purchased goods from Govind                    Rs. 1500
15    Purchased goods from Rajesh                             Rs. 400
20 Purchases                                                              Rs. 600
28 Purchased goods from Ravi                                   Rs. 1000

9. Record the following transactions in the purchases book.
January 1    Purchased goods from Ravi                                 Rs. 1300
3    Purchased goods from Giri                                        Rs. 1000
5    Purchased goods from Siva                                       Rs. 1200
7    Purchased goods from Sathish                                   Rs. 1500
9    Purchased goods from Prasad                                   Rs. 2000

10. Prepare Purchases book from the following information.
September 9        Purchases from Raju                                        Rs. 5000(Trade discount 5%)
11        Purchased goods from Wilson                      Rs. 2000
15        Purchased goods                                                  Rs. 400
20         Purchases goods from Kesav                              Rs. 1500 (Trade discount 10%)
28         Purchased goods from Ravi on cash                    Rs. 1000
31        Purchased goods from Hari                                  Rs. 3000

11. Enter the following transaction in the sales book and purchases book.
January 1        Purchased goods from Anand                                          Rs. 700
4    Sold goods to Bhanu                                                          Rs. 500
10    Purchased goods from Chandu                                               Rs. 900 (Discount 5%)
12    Sold goods to Dasarath                                                          Rs. 800
15    Purchased goods from Govind                                                Rs. 600
20    Purchases                                                                              Rs. 500
23    Purchased goods from Gopal                                                 Rs. 1000(Tr. Discount 15%)
27    Sold goods to Mahesh                                                           Rs. 1100
31    Sold goods to Nagesh on cash                                               Rs. 500

12. Enter the following transactions in the purchases book and purchase returns book.
November    1    Purchased goods from Madhu                                          Rs. 1500
4    Purchased goods from Suresh                                                       Rs. 1000
10    Purchased goods from Kiran                                                       Rs. 1200
13    Returned goods to Madhu                                                          Rs. 200
16    Returned goods to Kiran                                                            Rs. 300
19    Purchased goods from Madhu                                                    Rs. 2000
25    Purchased goods from Kumar                                                    Rs. 900
27    Returned goods to Karthik                                                          Rs. 400
29    Purchased goods from Sekhar                                                    Rs. 700
30    Returned goods to Kumar                                                          Rs. 300

13. Enter the following transaction in the Sales book and Sales returns book.
August    1    Sold goods to Karim                                   Rs. 5000
4    Sold goods to Suresh                                         Rs. 2500
10    Sold goods to Mani                                          Rs. 1200
13    Returned goods from Karim                             Rs. 500
16    Returned goods from Sures                              Rs. 300
19    Sold goods to Jani                                           Rs. 2000
25    Goods returned from  Hari                               Rs. 900
27    Returned goods from Padma                           Rs. 400
29    Goods sold to Madhu                                     Rs. 700
30    Returned goods from Madhu                           Rs. 300

14. Prepare Three column Cash Book.
August 1    Balance of Cash                                                                     Rs. 2500
Bank balance                                                                                   Rs. 3000
5    Purchases                                                                                     Rs.    900
10    Received cheque from Raghu                                                      Rs. 1000, discount Rs. 200
and cheque deposited in to bank.
15    Purchased furniture                                                                      Rs. 750
20    Deposited cash into bank                                                             Rs. 500
25    Drawings                                                                                     Rs. 400
30    Taken cash from bank for office use                                             Rs. 700
31    Paid office Rent                                                                           Rs. 600

15.  Prepare Three column Cash Book.
August 1    Balance of Cash            Rs. 3500
Bank balance                Rs. 2500
5    Purchases                Rs. 1100
10    Sold goods from cash         Rs. 900
15    Cash paid to Raju            Rs. 525, discount Rs.75
20    Deposited cash into bank        Rs. 250
22    Drawings                Rs. 300
25    Received cash from Srinivas    Rs. 350, discount Rs.50
30    Received cheque from Hari        Rs. 700, discount Rs.100
The cheque deposited into bank
31    Paid to Ramesh by cheque        Rs. 375, discount Rs.75
31    Paid office expenses        Rs. 250

16.  Prepare Three column Cash Book.
August 1    Balance of Cash            Rs. 1900
Bank balance                Rs. 2000
3    Cash sales                Rs. 1000
5    Issued cheque to Giri        Rs. 550, discount Rs. 50
8    Paid for stationery            Rs. 200
10    Received cheque from Krishna    Rs. 425, discount Rs. 75
13    Sold old furniture            Rs. 400
15    Purchased goods from Kiran    Rs. 700
17    Deposited Krishna’s cheque into Bank
20    Paid by cheque to Akbar Rs. 350, discount received Rs. 50
23    Taken cash from bank for office use Rs. 600
25    Received cash from Kiran    Rs. 650, discount Rs. 50
27    Received commission    Rs. 800
29     Received cheque from Murali 700, discount 100
Cheque deposited into bank
31    Paid Rent    Rs. 500

17.  Prepare Three column Cash Book.
August 1    Balance of Cash            Rs. 2000
Bank balance            Rs. 1000
3    Deposited cash into bank        Rs.  500
5    Paid cheque to Suresh        Rs. 450, discount Rs. 50
8    Received cheque from Rahim         Rs. 350(Cheque deposited)
10    Received Rs. 900 from Anand in full settlement of his account Rs. 1000
12    Withdrawn cash from bank        Rs. 900
15    Paid Interest                Rs. 400
18    Received commission        Rs. 500
21    Paid cash into bank            Rs. 600
24    Cash received from Singh        Rs. 450, discount Rs. 50
27    Purchased stationary and issued a cheque Rs. 400
28    Sold old machinery            Rs. 800
31    Paid salaries                Rs. 300

18. Prepare Three column Cash Book.
August 1    Balance of Cash            Rs. 1700
Bank balance                Rs. 1300
3    Paid to Kishore            Rs.  650, discount Rs. 150
5    Cash sales                 Rs. 1000
8    Cash paid to Murthy                   Rs. 350, discount Rs. 50
10    Received cheque from Mohan Rs. 450, discount Rs. 150
12    Mohan cheque deposited into bank.
15    Paid postal charges            Rs. 100
18    Cheque issued to Kiran        Rs. 1000, discount Rs.200
21    Paid cash into bank            Rs. 600
24    Cash received from Hari        Rs. 450, discount Rs. 50
27    Purchased stationary and issued a cheque Rs. 300
28    Sold old machinery            Rs. 500
31    Paid salaries    by cheque        Rs. 400

19. Prepare Analytical Petty Cash book from the following particulars.
March 1    Balance of Cash            Rs. 75
Received advance from cashier    Rs. 125
3    Tiffin expenses            Rs. 10
5    Postal stamps purchased        Rs. 5
9    Bus charges                Rs. 8
11    Tea expenses            Rs. 6
14    Auto charges                Rs. 10
18    Tea expenses            Rs. 6
21    Paid to Rajesh            Rs. 20
26    Paid telegram to Mumbai        Rs. 15
28    Refreshment to guests        Rs. 20
30    Paid repairing charges        Rs. 10
31    Postal cards and covers        Rs. 10

20. Prepare Analytical Petty Cash book from the following particulars.
April 1        Petty cashier take Rs. 200
8        Stationery        Rs. 16
12    Bus charges        Rs. 2
18    Postal stamps    Rs. 30
20    Telegrams        Rs. 5
22    Wages paid        Rs. 20
24    Taxi fare        Rs. 10
26    Stationery        Rs. 8
28    Cartage        Rs. 36
29    Telegram to supplier    Rs. 7
30    Repairs        Rs. 12
31    Auto charges        Rs. 6
31    Refreshments    Rs. 18

21. Prepare Bank Reconciliation Statement from the following particulars as on 31.3.2008
a. Balance as per pass book        Rs. 2300
b. Cheques deposited into bank but not collected by the banker Rs. 600
c. Bank charges and commission debited only in the pass book Rs. 300
d. Cheques issued but not presented for payment at bank Rs. 1000
e. Interest on deposits credited only in the pass book Rs. 500

22. Cash book shows a balance of Rs. 10000. On comparing the cash book with the pass book, the following discrepancies were noted.
a. Cheques issued but not presented for payment Rs. 800
b. Cheques deposited in bank but not collected Rs. 1100
c. Bank paid insurance premium Rs. 500
d. Bank charges Rs. 75
Prepare a bank reconciliation statement showing balance as per pass book.

23. X’s cash book showed of Rs. 11700 as on 30th September, 2009.  On comparing the cash book with pass book the following discrepancies were noted.
a. Directly deposited by a customer Rs. 2000
b. Interest credited by the bank in pass book only Rs. 500
c. Cheques issued but not yet presented for payment Rs. 2500
d. Bank charges Rs. 100
e. Cheques deposited in bank but not credited Rs. 4000
Prepare a BRS showing balance as per pass book.

24. From the following particulars prepare a BRS as at 31st December, 2004 of Nagamani and Co., who had cash at bank as per cash book Rs. 20220 and as per Pass Book Rs. 24626.
a. The following cheques were deposited on 26th December, but were not collected by 31st December, 2004. (i) Rs. 320 (ii) Rs. 740 (iii) Rs. 214
b. The following cheques were issued but not encashed as on reconcile day (i) Rs. 770 (ii) Rs. 400 (iii) Rs. 940 (iv) Rs. 1150
c. The bank allowed interest Rs. 200 and a commission was charged Rs. 880 on 31st December, 2004.
d. The bank collected a bill of Rs. 3100 on the 31st December, 2004 but the intimation was received by the firm on 4th January, 2005.

25. On comparing the Pass book with Cash book the following differences were noticed. Prepare BRS with the help of pass book balance Rs. 12000.
a. Cheques issued but not yet presented for payment Rs. 4000
b. Cheques sent for collection, not yet realised Rs. 5000
c. A cheque of Rs. 800 deposited into bank, but forgot to enter in cash book.
d. A cheque drawn on firm’s current account, wrongly debited in the savings a/c Rs. 1100
e. The receipts side of cash book has been overcast by Rs. 300.

26. The pass book shows a favourable balance of Rs. 15510 as on 31st December, 2007. On comparing the same with his cash book following difference were noticed. Calculate the bank balance as per cash book.
a. A cheque for Rs. 1450 received from Swathi & Co was entered twice in the cash book.
b. Bills discounted, got dishonoured Rs. 500
c. The receipts column of the cash book has been over added by Rs. 940
d. Several cheques totalling Rs. 6000 were issued to different suppliers.  Of these, cheques worth Rs. 1500 were debited in pass book on 2nd January, 2008 and Rs. 2500 on 4th January. The balance being debited before 31st December 2007.
e. Uncredited cheque Rs. 1000
f. A cheque of Rs. 400 was credited in pass book but was not recorded in cash book.

27. From the following particulars prepare a BRS.
a. Bank overdraft as per cash book Rs. 10600
b. Bills collected directed by Bank Rs. 3500
c. Debit side of the bank column of the cash book cast short Rs. 100
d. A cheque deposited as per bank statement but not recorded in the cash book Rs. 900
e. Bank charges recorded twice in the cash book Rs. 420
f. The cheques of Rs. 6000 deposited but collections as per statement Rs. 3500
28. From the following particulars prepare BRS  on 31st December, 2008
a. Bank overdraft as per Cash Book is Rs. 21450.
b. Cheques deposited but not cleared Rs. 1000
c. On 26th December, 2008 cheques worth of Rs. 6000 issued, but cheques worth            of Rs. 4000 encashed upto 31.12.2008.
d. A wrong debit in the pass book of Rs. 750.
e. Bills collected by bank directly Rs. 3000.
f. Interest on investments collected by the banker, same was only in PB Rs. 2000

29. From the following information prepare BRS as on 31.3.2007.
a. Overdraft balance as on 31.3.2007 as per bank statement Rs. 20740.
b. On 23.3.2007, the credit side of the bank column of the cash book was cast              Rs.900 short.
c. As per standing instructions given to bank, chamber of commerce fee Rs. 3500 was paid by the bank but was not recorded in the cash book.
d. Cheque deposited into the bank but not recorded in cash book Rs. 1500
e. In the cash book, a bank charge of Rs. 190 was recorded twice while another bank charge of Rs. 210 was not recorded at all.
f. Dividend on shares Rs. 2300 was collected by bank directly. The trader has no information.
g. A wrong credit of Rs. 1240 has been given by the bank.
h. Two cheques of Rs. 850 and Rs. 1500 were issued but out of them only one cheque of Rs. 850 was presented for payment up to reconcile day.

30. From the following particulars, prepare a BRS on 31.12.2008.
a. Balance as per pass book (debit balance) Rs. 12900
b. Cheques drawn on 30.12.2008, but not presented till January 2nd, 2009, Rs. 4190, Rs. 790 and Rs. 350.
c. Bank charged interest on overdraft on 26.12.2008, not entered in cash book 2200
d. Cheque Rs. 40 entered in the debit side of the cash book twice.
e. A periodic payment by bank of Rs. 80 under standing instructions not entered in cash book.
f. Cheques received but not sent to bank for collection as on reconcile day Rs.7000
g. Bills receivable sent for collection to the bank, but not yet received any intimation from bank, Rs. 3440.
h. Cheque deposited for collection, was dishonoured but no entry in the cash book
Rs. 7320.

31. A cash book showed of Rs. 11700 as on 30th September, 2002. On comparing the cash book with pass book the following discrepancies were noted.
a. Directly deposited by a customer Rs. 2000
b. Interest credited by the bank in pass book only Rs. 500
c. Cheques issued but not yet presented for payment Rs. 2500
d. Bank charges Rs. 100
e. Cheques deposited in bank but not credited. Rs. 4000

32. Rectify the following errors before preparation of the Trial balance.
a. Rs. 250 paid for proprietor’s medical bill was debited to Sundry expenses a/c
b. A sale of goods Rama for Rs. 2900 was entered through the purchase book.
c. Sale of old machinery Rs. 5000 was posted to the credit side of sales account.
d. The total of purchase book was overcast by Rs. 2000
e. Salary of Rs. 4500 paid Ram has been debited to his account.

33. Pass necessary entries to rectify the following errors after preparation of Trial balance.
a. Rs. 1500 received from Gopal has been wrongly credited to Bhoopal account
b. The purchases book was undercast by Rs. 1000
c. Repairs to Machinery Rs. 800, were debited to Machinery account.
d. Discount allowed to Mahipal Rs. 200 correctly entered in cash book, has not been posted to his account.
e. Bill receivable from Mr. Anil Rs. 1000 was entered in the bills payable book.

34. Write the rectification entries for the following errors.
a. Furniture sold Rs. 1800 has been posted to sales account.
b. The returns outwards journal has been overcast by Rs. 185.
c.  A sale of Rs. 2219 to Prakash has been entered in the sales book as Rs. 2291
d. Rs. 500 received from Ashok was debited to his account.
e. Wages paid for installation of machinery Rs. 1500 was debited to wages account

35. Rectify the following errors found after the preparation of Trial balance.
a. A debtor balance of Rs. 550 was not included in the list of debtors.
b. A sum of Rs. 1200 paid to Suresh was debited to Prasad.
c. A credit sale of Rs. 587 to Siva was recorded in the sales book as Rs. 857.
d. Purchased goods from Ravi Rs. 4500 but entered into sales book.
e. Goods taken by proprietor Rs. 700 has not been entered in the books at all.

36. Write Opening Journal entry.
Cash                 Rs. 9000        Furniture         Rs. 3000
Bills receivable        Rs. 5000        Bills payable            Rs.  2000
Sundry debtors        Rs. 4000        Sundry Creditors    Rs. 3000
Machinery            Rs. 9000        Bank loan        Rs. 7000

37.  Write Opening Journal entry.
Cash                 Rs. 500        Furniture         Rs. 2000
Bills receivable        Rs. 3000        Bills payable            Rs.  4000
Sundry debtors        Rs. 3000        Sundry Creditors    Rs. 6000
Machinery            Rs. 8000        Bank loan        Rs. 3000
Stock                Rs. 5000        Investments        Rs. 7000

38. Write Opening Journal entry.
Cash                 Rs. 1000        Furniture         Rs. 1000
bank balance            Rs. 5000        Bills payable            Rs.  6000
Sundry debtors        Rs. 4000        Sundry Creditors    Rs. 10000
Machinery            Rs. 9000        Buildings        Rs. 10000
Stock                Rs. 3000        Investments        Rs. 7000

39. Write Opening Journal entry.
Cash                 Rs. 1000        Furniture         Rs. 5000
Bank balance            Rs. 2000        Bills payable            Rs.  10000
Sundry debtors        Rs. 8000        Sundry Creditors    Rs. 6000
Buildings            Rs. 20000        Investments        Rs. 7000

40. Write Opening Journal entry.
Cash                 Rs. 10000        Buildings         Rs. 25000
Bills receivable        Rs. 6000        Bills payable            Rs.  10000
Sundry debtors        Rs. 8000        Sundry Creditors    Rs. 12000
Stock                Rs. 9000        Patents        Rs. 7000

41. Write Opening Journal Entry.
Buildings Rs. 30000        Machinery Rs. 10000    Furniture Rs. 12000
Bills payable Rs. 20000    Investments    Rs. 11000     Government bonds Rs.9000
Creditors Rs. 16000        Bank loan Rs. 8000    Debtors Rs. 7000

42. Write opening entry.
Cash Rs. 6000        Debtors Rs. 8000        Machinery Rs. 16000
Bills payable Rs. 3000    Bills receivable Rs. 4000    Buildings Rs. 24000
Creditors Rs. 4000        Bank loan Rs. 2000        Drawings Rs. 3000

43. Prepare Trial balance
Cash Rs. 20000; Sales Rs. 30000; salaries RS. 15000; creditors Rs. 10000; capital Rs. 60000; purchases Rs. 40000; debtors Rs. 25000.

44. Prepare Trial Balance
cash Rs. 40000; capital Rs. 120000; sales Rs. 60000; purchases Rs. 80000; salaries Rs. 30000; debtors Rs. 50000; creditors Rs. 20000

45. Prepare Trial Balance
Bills receivable Rs. 1000; sales Rs. 1200; return outwards Rs. 300; bills payable Rs. 800; purchases Rs. 3000; capital Rs. 1900; return inwards Rs. 200
46. Prepare Trial Balance
Cash Rs. 1000; bank Rs. 2000; debtors Rs. 8000; creditors Rs. 6000; buildings Rs. 20000; bills payable Rs. 10000; furniture Rs. 5000

47. Prepare Trial Balance
Opening stock Rs. 10000; purchases Rs. 20000; sales Rs. 30000; debtors Rs. 20000; Creditors Rs. 10000; salaries Rs. 5000; cash Rs. 10000; capital Rs. 25000

48. Prepare Trial Balance
Cash Rs. 4000; buildings Rs. 36000; debtors Rs. 12000; sales Rs. 23000; Opening stock Rs. 8000; capital Rs. 45000; purchases Rs. 15000; bills payable Rs. 7000.

49. Prepare Trial Balance
Opening stock Rs. 10000; purchases Rs. 22000; carriage Rs. 600; creditors Rs. 4000; capital Rs. 15000; sales Rs. 31000; salaries Rs. 4000; debtors Rs. 8000; bank balance Rs. 5400

50. Prepare Trial Balance
Bank Rs. 35000; salaries Rs. 2000; sales Rs. 225000; buildings Rs. 20000; bills receivable Rs. 5000; cash Rs. 10000; purchases Rs. 200000; opening stock Rs. 20000; bills payable Rs. 5000; capital Rs. 62000

51. From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                 Debit            Credit
Purchases, sales                        25000        175000
Returns                                       1000            4700
Rent                                            2500              500
Opening stock                           15000
Debtors, creditors                      30000          25000
Salaries                                      22500
Wages                                        10800
Machinery                                  10000
Furniture                                    10000
Cash                                          29400
Interest                                        2500
Discount                                      5000            1000
Drawings, capital                         6300          63800
  270000        270000
Adjustments:
1. Closing stock value Rs. 12000        2. Outstanding salaries Rs. 1500
3. Prepaid Rent       Rs. 500        4. Provide reserve for bad debts 5%
5. Provide depreciation on machinery 10%.

51. From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                        Debit        Particulars                                      Credit
Purchases                                       25200        Sales                                             61604
Furniture                                           1600        Capital                                          35000
Wages                                              3500        Purchase returns                                225
Machinery                                      20000        Creditors                                         3900
Opening stock                                17525        Bank overdraft                                3000
Sales returns                                     1200        Bills payable                                   2000
Debtors                                         10400
Carriage on purchases                       200
Salaries                                         10600
Carriage on sales                               503
Rent and taxes                                 2001
Cash at bank                                   8000
Drawings                                         5000
       105729                                                            105729
Adjustments:
1. Closing stock Rs. 16800        2. Outstanding salaries Rs. 400
3. Prepaid rent Rs. 201
4. Write off Rs. 400 as bad debts and create 5% reserve for bad debts.
5. Depreciate Machinery by 10%
6. Interest on capital 5% and interest on drawings 10% is to be provided.
7. Provide 2% as reserve for discount on creditors.

52.  From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                         Debit        Particulars                                 Credit
Cash                                               13500        Capital                                      60000
Goodwill                                        20000        Creditors                                    10000
Factory insurance                             2000        Commission received                    7500
Audit charges                                   1500        Sales                                        130000
Debtors                                          20000        Return outwards                          2000
Wages                                              5000        Interest received                          5000
Opening stock                                12000        Outstanding salaries                     2500
Machinery                                       30500        Bills payable                               3500
Purchases                                       95000
Carriage inwards                              2500
Salaries                                          12500
Office Rent                                       5000
Rent paid in advance                         1000
                                      220500                                                         220500
Adjustments:
1. Closing stock Rs. 16800        2. Outstanding wages Rs. 1000
3.Write off Rs. 2000 as bad debts and provide 5% reserve for doubtful debts
4. Depreciate Machinery by 10%    5. Provide Interest on capital 5%
6. Commission  to be received Rs. 200

53.  From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                             Debit        Particulars                               Credit
Purchases                                             50000        Sales                                    120500
Returns                                                   2000        Creditors                                15000
Rent & Taxes                                   3000        Mortgage loan                        20000
Debtors                                                30000        Capital                                    70000
Salaries                                                 20000        Outstanding rent                        2000
Carriage                                                  1000        Interest received                        7000
Wages                                                   10000        Reserve for bad debts               1000
Machinery                                             30000
Furniture                                               10000
Drawings                                                5000
Bad debts                                               4000
Insurance                                                5000
Motive power                                         2500
Cash in hand                                         30000
Depreciation on machinery                      6000
Prepaid insurance                                    1000
Closing stock                                         25000
235500                                                         235500
Adjustments:
1. Interest on capital 5%, interest on drawings 10% is to be provided.
2. Write off bad debts Rs. 2000
3. Create a reserve of Rs. 1000 towards bad and doubtful debts.
4. Interest received in advance Rs. 1000

54. From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                                     Debit        Particulars                        Credit
Purchases                                                      70000        Sales                                100000
Sales returns                                                    1000        Capital                               80000
Carriage inwards                                                500        Purchase returns                  2000
Salaries                                                            1500        Creditors                          25000
Rent and insurance                                           1500        Commission                         2000
Debtors                                                         36000        RBD                                    2100
Machinery                                                       50000        Bills payable                       5000
Furniture                                                           9000
Cash at bank                                                   20000
Opening stock                                                 20000
Bad debts                                                         5000
Wages                                                              1100
Advertisements                                                   500
216100                                                216100
Adjustments:
1. Closing stock Rs. 10000    2. Create 5% reserve for doubtful debts.
3. Outstanding salaries Rs. 200
4. Depreciation @ 10% on Machinery and 5% on furniture is to be provided
5. Fire accident destroyed goods worth Rs. 5000 and insurance company
agreed to pay Rs. 4000.

55. From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                                Debit        Particulars                                  Credit
Machinery                                               20000        Sales                                         80000
Opening stock                                            8000        Purchase returns                           600
salaries                                                       6000        Creditors                                    8000
Purchases                                                 50600        Discount                                       600
Sales returns                                                 800        Capital                                     40000
Carriage inwards                                        1600        RBD                                             800
Carriage outwards                                      2500        Outstanding wages                       1800
Debtors                                                    21000
Furniture                                                    5000
Taxes, insurance                                         1200
Wages                                                        4000
Drawings                                                    1800
Bad debts                                                   2000
Cash in hand                                               7000
Prepaid insurance                                          300
131800                                                         131800
Adjustments:
1. Closing stock Rs. 12000            2. Outstanding salaries Rs. 400
3. Further bad debts to Rs. 1000        4. Create 5% Reserve for doubtful debts.
5. Provide 10% depreciation on furniture and machinery.
6. Goods worth Rs. 2000 are used by Raju for his family use.

56. From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                                                Debit            Credit
Purchases, sales                                                         125000        175000
Returns                                                                          1000            4700
Rent                                                                              2500              500
Opening stock                                                             15000
Debtors, creditors                                                        30000          25000
Salaries                                                                        22500
Wages                                                                          10800
Machinery                                                                    10000
Furniture                                                                      10000
Cash                                                                            29400
Interest                                                                          2500
Discount                                                                        5000            1000
Drawings, capital                                                           6300           63800
  270000          270000
Adjustments:
1. Closing stock value Rs. 15000        2. Rent to be received Rs. 500
3. Bad debts Rs. 1000            4. Provide reserve for bad debts 2000
5. Provide depreciation on machinery 5000 and on furniture Rs. 1500
6. There was a fire accident on 25.3.2009 and destroyed goods worth Rs. 10000

57. From the following particulars of Mr. Vamsi prepare final accounts of the year ended 31.3.2009 by taking into account the following adjustments.
1. Closing Stock Rs. 20000; 2. Provide 5% depreciation on machinery; 3. Interest on capital 6%; 4. 5% provision is to be made for doubtful debts; 5. There was a fire accident in the month of March and destroyed goods worth Rs. 4000 and insurance company agreed to pay Rs. 2500.
Particulars                                                                       Debit            Credit
Stock                                                                              6000
Purchases, sales                                                             42000            65000
Machinery                                                                     38000
Furniture                                                                         6000
Advertisements                                                               1400
Audit fee                                                                           800
Printing and stationery                                                     3200
Returns                                                                          1500                800
Wages                                                                            6200
Cash at bank                                                                  1200
Bills payable                                                                                         8000
Bank overdraft                                                                                    12000
Debtors, creditors                                                          24000            10000
Capital                                                                                                 80000
Interest received                                                                                      750
Buildings                                                                        32650
Factory rent                                                                     1200
Insurance                                                                           900
Bad debts and RBD                                                           700                500
177050        177050

58.  From the following trial balance prepare final account for the year ended 31.12.2008.
Particulars                                             Debit        Particulars                               Credit
Salaries                                                 6000        Sales                                       47000
Purchases                                             22000        Creditors                                21000
Trade expenses                                      1000        Discount                                     200
Wages                                                    7800        Capital                                    25000
Carriage on purchase                                400        Bills payable                             6800
Office expenses                                        500
Commission                                             600
Bad debts                                              1200
Debtors                                                30000
Furniture                                                 3000
Machinery                                            10000
Insurance                                                  400
Bills receivable                                         2000
Petty cash balance                                     100
Cash at bank                                           4000
Closing stock                                         11000
100000                                                      100000
Adjustments:
1. Outstanding wages. Rs. 2000 and salaries Rs. 1000
2. Prepaid insurance Rs. 50
3. Create reserve of 5% for RBD and 2% discount on debtors.
4. Depreciation on furniture Rs. 150 and Machinery Rs. 500

59. From the following trial balance prepare final account for the year ended 31.03.2009.
Particulars                                         Debit        Particulars                                 Credit
Purchases                                         100000    Capital                                      75000
Stock                                                 40000    Returns                                        2500
Machinery                                          50000    Commission                                 1000
Returns                                                4000    Creditors                                    29000
Debtors                                             60000    Bills payable                               17000
Bank                                                 25000    Bank loan                                     8000
Taxes                                                   3500    RBD                                            2000
Wages                                              28000    Outstanding salaries                       1500
Carriage                                            3000    Sales                                           240000
Rent                                                  4000
Bills receivable                                 45000
Furniture                                          12000
Rent paid in advance                          1000
Commission to be received                  500
   376000                                                      376000
Adjustments:
1. Closing stock Rs. 42000            2. Outstanding wages Rs. 4500
3. Depreciation on machinery 5%        4. Bad debts Rs. 2000
5. Create 5% Reserve for doubtful debts.
6. There was a fire accident on 25.3.2009 and destroyed goods worth Rs. 5000; insurance claim is settled for Rs. 3000

60.  From the following trial balance prepare final account for the year ended 31.03.2009.
Particulars                                         Debit        Particulars                               Credit
Purchases                                         25200        Capital                                   35000
Furniture                                             1600        Sales                                      61604
Wages                                                3500        Purchase returns                         225
Machinery                                         20000        Creditors                                 3900
Opening stock                                   17525        Bank overdraft                        3000
Sales returns                                       1200        Bills payable                             2000
Debtors                                            10400
Carriage on purchases                          200
Salaries                                             10600
Carriage on sales                                   503
Rent and taxes                                     2001
cash at bank                                        8000
Drawings                                             5000
  105729                                                      105729
Adjustments:
1. Closing stock Rs. 16800            2. Outstanding salaries Rs. 400
3. Prepaid rent and taxes Rs. 201        4. Depreciate machinery by 10%
5. Write off Rs. 400 as bad debts and create 5% reserve for bad debts.
6. Interest on capital 5% and interest on drawings 10% is to be provided.
7. Provide 2% reserve on creditors.