## Question No 22 Chapter No 18 – USHA Publication 11 Class

Question No 22 Chapter No 18

22. On 1st April 2015 the provision for bad debts account showed a credit balance of Rs 3,600 During the year the bad debts amounted to Rs 2,800. the debtors on 31st March 2016 amounted to Rs 96,000 and a provision of 5% for doubtful debts was maintained. The bad debts during the year 2016-17 amount to Rs 5,400. on 31st March 2017, the debtors amounted to Rs 1,00,000and a5% provision for bad debts was required to keep. In 2017-18 the debts amounted to Rs 1,200 and the debtors at the end of the year amounted to Rs 40,000 on which a provision of 5% for bad debts was to be maintained.
Show the provision for bad debts account and also show how this item will appearing the profit and loss account and balance sheet in every three years.

### The solution of Question No 22 Chapter No 18:-

 Provision for bad debts A/c Date Particular Amount Date Particular Amount 2016 2015 Mar. 31 To bad debts A/c 2,800 Apr. 1 By Balance b/d 3,600 Mar. 31 To Balance c/d 4,800 2016 Mar. 31 By P & L A/c 4,000 7,600 7,600 2017 2016 Mar. 31 To bad debts A/c 5,400 Apr. 1 By Balance b/d 4,800 Mar. 31 To Balance c/d 5,000 2017 Mar. 31 By P & L A/c 5,600 10,500 10,500 2018 2017 Mar. 31 To bad debts A/c 1,200 Apr. 1 By Balance b/d 5,000 Mar. 31 To Balance c/d 1,800 Mar. 31 By P & L A/c(5% of 40,000) 2,000 5,000 5,000

 Profit & loss A/c Labilities Amount Assets Amount 2016 Debtors A/c 96,000 Less: Provision for bad debts @5% 4,800 91,200 2017 Debtors A/c 1,00,000 Less: Provision for bad debts @5% 5,000 95,000 2018 Debtors A/c 40,000 Less: Provision for bad debts @5% 2,000 38,000 – –

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 21 Chapter No 18 – USHA Publication 11 Class

Question No 21 Chapter No 18

21.The following balances have been extracted from the trial balances of Reeta Bakshi as on31st March 2018

 Ledger Account (Dr. Rs) (Cr. Rs) Sundry Debtors 40,000 – Bad debts 3,500 –

Creates provision for doubtful debts @5% on sundry debtors
Give the adjusting entry and show how it will appear in final accounts.

### The solution of Question No 21 Chapter No 18:-

 Adjustment entries Date Particulars L.F. Debit Credit Profit & Loss A/c Dr. 2,000 To Provision for Bad debts A/c 2,000 (Being new provision on debts created @5%.)

 Profit & loss Account Particular Amount Particular Amount To Bad debts A/c 3,500 Add: New provision for bad debts 2,000 5,500 – –

 Balance Sheet Labilities Amount Assets Amount Debtors. A/c 40,000 Less: further bad debts 2,000 28,000 – –

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 20 Chapter No 18 – USHA Publication 11 Class

Question No 20 Chapter No 18

20. The following balances have been taken from the trial balance of Jagir Kaur as on 31st March 2018

 Ledger Account (Dr. Rs) (Cr. Rs) Sundry Debtors 26,000 – Bad debts 3,500 –

Write off further bad debts Rs 2,000 give the adjusting entry and show how it will be treated in financial statements.

### The solution of Question No 20 Chapter No 18:-

 Adjustment entries Date Particulars L.F. Debit Credit Bad debts A/c Dr. 2,000 To Debtors A/c 2,000 (Being bad debts written off.)

 Profit & loss Account Particular Amount Particular Amount To Bad debts A/c 3,500 Add: further bad debts. 2,000 5,500 – –

 Balance Sheet Labilities Amount Assets Amount Debtors. A/c 26,000 Less: further bad debts 2,000 28,000 – –

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 19 Chapter No 18 – USHA Publication 11 Class

Question No 19 Chapter No 18

Interest on Drawings

19. From the following trail balance of Kabul Singh prepare Trading and profit & Loss account for the year ended 31st march 2019 and balance sheet as on that date:

 Debit balances Rs Credit balances Rs Building 70,000 Capital 92,000 Motor Trucks 12,000 Creditors 18,852 Furniture 1,640 Bills payables 6,930 Debtors 15,600 Sales 1,21,850 Opening stock 15,040 Interest 340 Cash in hand 988 Apprentice premium 1,320 Purchases 87,522 Purchases return 2,000 Carriage inwards 1,291 Carriage outwards 800 Cash at bank 14,534 Bills receivable 5,844 General expenses 6,085 Insurance 613 Bad debts 783 Audit fees 300 Travelling expenses 425 Discount 420 Sales return 485 Investments 8,922 2,43,292 2,43,292

1. Purchases include purchases of furniture Rs 2,600
2. Goods are withdrawn by the proprietor for personal sue Rs 5,500
3. Goods distributed as free samples Rs 1,800
4. Goods donated to orphanage Rs 1,400
5. Goods of the value of Rs 3,000were used in the construction of the building
6. Stock at the end of the year Rs 35,000

### The solution of Question No 19 Chapter No 18:-

 Trading Account Particular Amount Particular Amount To Opening Stock A/c 15,040 By Sale A/c 1,21,850 To Purchases A/c 87,522 485 1,21,365 Less: furniture 2,600 By Closing Stock 35,000 Less: drawings 5,500 Less: Free samples 1,800 Less: Donation 1,400 Less: Building 3,000 Less: Return 2,000 Add: Additional Purchases (8,000) 79,222 To Carriage Inwards A/c 1,921 To Gross Profit A/c 60,812 1,56,365 1,56,365

 Profit/Loss Account Particular Amount Particular Amount To Carriage outwards A/c 800 By Gross Profit A/c 60,812 To General Exp. A/c 6,085 By Interest A/c 340 To Insurance 613 By apprentice premium A/c 1,320 To bad debts 783 To Audit fee A/c 300 To Travelling Exp. 425 To Discount 420 To Advertisement 1,800 To Donation 1,400 To Net Profit A/c 49,846 62,472 62,472

 Balance Sheet Labilities Amount Assets Amount Capital A/c 92,000 Building 70,000 Add: net Profit 49,846 Add: Addition 3,000 73,000 Less: Drawing 5,500 1,36,346 Debtors 15,600 Creditor 18,852 Bills receivable 5,844 Additional purchases 8,000 26,852 Investment 8,922 Bills Payable 6,930 Furniture 1,640 Add: Addition 2,600 4,240 Closing Stock 35,000 Cash in hand 988 Cash at bank 14,534 1,70,128 1,70,128

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 18 Chapter No 18 – USHA Publication 11 Class

Question No 18 Chapter No 18

Withdrawal of goods for personal use

18. The following balances have been extracted from the trial balance of Rahul Dev As on 31st March 2018

 Ledger Account (Dr. Rs) (Cr. Rs) Purchases 66,000 – Tools and Implements 34,000 – Wages 18,000 –

Materials worth Rs 6,000 and wages Rs 4,000 were used in marking Tools and implements for the business. Show the adjustment entry and its treatment in the financial statement

### The solution of Question No 18 Chapter No 18:-

 Adjustment entries Date Particulars L.F. Debit Credit Tools and Implements A/c Dr. 10,000 To Purchases A/c 6,000 To Wages A/c 4,000 (Being material and wages used for tools and implement.)

 Trading Account Particular Amount Particular Amount To Purchases A/c 66,000 Less: tools and Imp. 6,000 60,000 To Wages A/c 18,000 Less: tools and Imp. 4,000 14,000 – –

 Balance Sheet Labilities Amount Assets Amount Tools and Imp. A/c 34,000 Add: addition during year 10,000 44,000 – –

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 17 Chapter No 18 – USHA Publication 11 Class

Question No 17 Chapter No 18

Withdrawal of goods for personal use

17. The following balances have been taken from the trial balances of Jayant Singh as of 31st March 2019

 Ledger Account (Dr. Rs) (Cr. Rs) Purchases 40,000 – Advertisement 10,000 – Donation 6,000 – Input CGST 5,500 – Input SGST 5,500 –

Goods worth Rs 3,000 were distributed as free samples and worth Rs 2,000 were donated to poor people (CGST and SGST 14%)
Give adjustment entries and show their accounting treatment in the financial statement for the year 2018-19

### The solution of Question No 17 Chapter No 18:-

 Adjustment entries Date Particulars L.F. Debit Credit Advertisement A/c Dr. 3,840 Donation A/c Dr. 2,560 To Purchases A/c 5,000 To Input CGST A/c 700 To Input SGST A/c 700 (Being goods distributed in advertisement and donated .)

 Trading Account Particular Amount Particular Amount To Purchases A/c 40,000 Less: Donation 3,000 Less: Advertisement 2,000 45,000 – –

 Balance Sheet Labilities Amount Assets Amount Input CGST 4,700 Input SGST 4,700 – –

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 16 Chapter No 18 – USHA Publication 11 Class

Question No 16 Chapter No 18

Withdrawal of goods for personal use

16.The following balances have been taken from the trail balance of Miss Pooja as on 31st March 2016

 Ledger Account (Dr. Rs) (Cr. Rs) Purchases 65,000 – Capital – 50,000 Drawing 8,000 –

### The solution of Question No 16 Chapter No 18:-

 Adjustment entries Date Particulars L.F. Debit Credit Drawing A/c Dr. 4,000 To Purchases A/c 4,000 (Being withdrawn for personal use.)

 Trading Account Particular Amount Particular Amount To Purchases A/c 65,000 Less: Drawing 4,000 61,000 – –

 Balance Sheet Labilities Amount Assets Amount Capital A/c 50,000 Less: Drawing(8,000 + 4,000) 12,000 38,000 – –

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 15 Chapter No 18 – USHA Publication 11 Class

Question No 15 Chapter No 18

Interest on Drawings

15. The following is the trial balance of M/s Kasturi Agencies as on 31st March 2019 prepare trading and profit & loss account for the yea ending 31st March 2019 and a balance sheet as on that date

 Ledger Account (Dr. Rs) (Cr. Rs) Capital – 1,00,000 Building 15,000 – Drawings 18,000 – Furniture & fittings 7,500 – Motor Van 25,000 – Loan from Mr. A @12% interest – 15,000 Interest paid on loan 900 – Sales – 1,00,000 Purchases 75,000 – Opening Stock 25,000 – Establishment expenses 15,000 – Wages 2,000 – Insurance 1,000 – Commission – 7,500 Sundry Debtors and Creditor 28,100 10,000 Bank balance 20,000 2,32,500 2,32,500

1. The value of the closing stock on 31st March 2019 was Rs 32,000
2. Outstanding wages Rs 500
3. Prepaid insurance Rs 300
5. Paid rent Rs 500 in advance
6. Depreciation building by 2.5%, furniture and fittings by 10% and motor van by 10%
7. Charge interest on drawings Rs 500
8. Balance of interest due on the loan is also to be provided for

### The solution of Question No 15 Chapter No 18:-

 Trading Account Particular Amount Particular Amount To Opening Stock A/c 25,000 By Sale A/c 1,00,000 To Purchases A/c 75,000 To Wages A/c 2,000 By Closing Stock 32,000 Add: outstanding wages 500 2,500 To Gross Profit A/c 29,500 1,32,000 1,32,000

 Profit/Loss Account Particular Amount Particular Amount To Establishment Exp. A/c 15,000 By Gross Profit A/c 29,500 To Interest on loan A/c 900 By Commission A/c 7,500 Add: Interest Due 900 1,800 Less: commission received in advance 800 6,700 To Interest on capital 10,000 By Interest on drawing A/c 500 To Insurance A/c 1,000 Less: Prepaid insurance 300 700 To Dep. On Building 375 To Dep. On furniture & fitting 750 To Dep. On Motor van 2,500 To Net Profit A/c 5,575 36,700 36,700

 Balance Sheet Labilities Amount Assets Amount Capital A/c 1,00,00 Building 15,000 Add: Interest on capital 10,000 Less: Depreciation 375 14,625 Add: net Profit 5,575 Sundry debtors 28,100 Less: Drawing 18,000 Bank Balance 20,000 Less: interest on drawing 500 97,075 Closing Stock 32,000 Laon from Mr. A 15,000 Furniture & fitting 7,500 Interest on loan due 900 Less: Depreciation 750 6,750 Sundry Creditor 10,000 Motor Van 25,000 Wages due 500 Less: Depreciation 2,500 22,500 Commission received in advance 800 Prepaid insurance 300 1,24,275 1,24,275

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 14 Chapter No 18 – USHA Publication 11 Class

Question No 14 Chapter No 18

Opening stock Valuation

14.Th following trail balances has been extracted from the books of Shamsher Singh on 31st March 2018

 Debit balances Rs Credit balances Rs Machinery 40,000 Capital 90,000 Cash in hand 10,000 Sales 1,60,000 Cash at bank 5,000 Sundry Creditor 45,000 Wages 10,000 Interest received 3,000 Purchases 80,000 Stock 1-4-2017 60,000 Sundry Debtors 44,000 Bills receivable 29,000 Rent 4,500 Commission 2,500 General expenses 8,000 Salaries 5,000 2,98,000 2,98,000

Provide for interest on capital at 5% p.a. Depreciation at 10% ; wages outstanding amount to Rs 500; rent prepaid amounts to Rs 1,000; stock on 31-3-2018 Rs 80,000.
Prepare Trading and Profit & Loss account for the year ending 31st  March 2018 and balance sheet as 31st March 2018

### The solution of Question No 14 Chapter No 18:-

 Trading Account Particular Amount Particular Amount To Opening Stock A/c 60,000 By Sale A/c 1,60,000 To Purchases A/c 80,000 To Wages A/c 10,000 By Closing Stock 80,000 Add: outstanding wages 500 10,500 To Gross Profit A/c 89,500 2,40,000 2,40,000

 Profit/Loss Account Particular Amount Particular Amount To Commission A/c 2,500 By Gross Profit A/c 92,500 To Rent A/c 4,500 Less: rent prepaid 500 3,500 To general exp. 8,000 To Salaries A/c 5,000 To Interest on capital 4,500 To Dep. On machinery 4,000 To Net Profit A/c 65,000 92,500 92,500

 Balance Sheet Labilities Amount Assets Amount Capital A/c 90,000 Machinery 40,000 Add: interest on capital 4,500 Less: Depreciation 4,000 36,000 Add: net Profit 65,000 1,59,500 Cash at bank 10,000 Sundry Creditor 45,000 Cash in hand 5,000 Wages Due 500 Sundry Debtors 44,000 Bills Receivable 29,000 Closing Stock 80,000 Rent prepaid 1,000 2,05,000 2,05,000

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

## Question No 13 Chapter No 18 – USHA Publication 11 Class

Question No 13 Chapter No 18

Opening stock Valuation

13.From the following trial balance extracted from the book of Shivam, prepare a trading account and profit & loss account for the year ending 31st march 2019 and balance sheet as of that date

 Ledger Account (Dr. Rs) (Cr. Rs) capital; – 2,00,000 Drawing 17,000 – Plant & machinery 1,20,000 – Horses and carts 26,000 – Debtors 36,000 – Creditor – 26,000 Purchases and sales 20,000 42,000 Wages 8,000 – Cash in hand 26,000 – Salaries 8,000 – Repair 1,900 – Opening stock 16,000 – Rent 4,500 – -manufacturing expenses 1,500 Bills payables – 23,500 Bad debts 5,000 – Carriage 1,600 2,91,500 2,91,500

1. Closing stock Rs 16,000
2. Depreciation plant & machinery 10%; horses and carts 15%
3. Allow interest on capital at 5% p.a
4. 1,500 is due for wages
5. Paid rent Rs 500 in advance

### The solution of Question No 13 Chapter No 18:-

 Trading Account Particular Amount Particular Amount To Opening Stock A/c 16,000 By Sale A/c 42,000 To Purchases A/c 21,650 To Wages A/c 8,000 By Closing Stock 16,000 Add: outstanding wages 1,500 9,500 To Manufacturing Exp. A/c 1,500 To Carriage A/c 1,600 To Gross Profit A/c 9,400 58,000 58,000

 Profit/Loss Account Particular Amount Particular Amount To Salaries A/c 8,000 By Gross Profit A/c 9,400 To Rent A/c 4,500 Less: rent prepaid 500 4,000 To Repair 200 To Bad debt A/c 9,500 To Dep. On plant & machinery 400 To Dep. On Horses & Carts 650 By Net Loss A/c 35,400 44,800 44,800

 Balance Sheet Labilities Amount Assets Amount Capital A/c 2,00,000 Horses & Carts 26,000 Add: interest on capital 10,000 Less: Depreciation 3,900 22,100 Less: net Loss 35,400 Debtors 36,000 Less: Drawing 17,000 1,57,600 Closing Stock 16,000 Creditor 26,000 Cash at bank 26,000 Bills payables 23,500 Rent prepaid 500 Wages due 1,500 Plant & machinery 1,20,000 Less: Depreciation 12,000 1,08,000 2,08,600 2,08,600

Final Accounts: Definition and Explanation

Profit and Loss Account: Meaning, Format & Examples

Balance Sheet: Meaning, Format & Examples

Comment if you have any question.

Also, Check out the solved question of all Chapters: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)