Question 33 Chapter 1 of +2-Part-1
Table of Contents
33. (Trading and Profit & Loss/Income & Expenditure Account) Ambala Charitable Hospital runs a Chemist Shop along with the hospital. You are required to prepare Trading and Profit & Loss Account for the shop and Income & Expenditure Account for the hospital for the year ended 31-3-15.
| Rs | Rs | ||
| Stock of medicines opening | 9,000 | Room charges from patients | 6,000 |
| Stock of medicines closing | 3,000 | X ray and ultrasound charges | 9,000 |
| Purchase of medicine | 12,000 | Donations for hospital building | 12,000 |
| Carriage | 2,000 | General donations | 4,000 |
| Rent paid for the shop | 5,000 | Rent paid for hospital | 6,500 |
| Sales of medicine | 21,000 | Salaries: | |
| Operation fees | 7,000 | Shop | 4,500 |
| Doctors’ fees collected | 12,000 | Hospital | 7,500 |
| Expenses on blood donation camp | 2,500 | Medical Camp expenses | 3,000 |
The solution of Question 33 Chapter 1 of +2 Part-1: –
| Trading and Profit and Loss account For the year ending 31st March 2015 |
||||
| Particulars |
Amount | Particulars |
Amount | |
| To Opening stock of medicines | 9,000 | By Sales of medicine | 21,000 | |
| To Purchase of medicine | 12,000 | By Stock of medicines closing | 3,000 | |
| To Carriage | 2,000 | By Trading loss c/d | 8,500 | |
| To Shop rent | 5,000 | |||
| To Salaries | 4,500 | |||
| 32,500 | 32,500 | |||
| Income & Expenditure Account For the year ending 31st March 2015 |
||||
| Expenditure |
Amount | Income |
Amount | |
| To loss on medicine shop | 8,500 | By Operation fees | 7,000 | |
| To rent | 6,500 | By Doctors’ fees collected | 12,000 | |
| To salaries | 7,500 | By Room charges from patients | 6,000 | |
| To Expenses on blood donation camp | 2,500 | By X-ray and ultrasound charges | 9,000 | |
| To Medical Camp expenses | 3,000 | By General donations | 9,000 | |
| To Excess of Income over expenditure (Surplus) | 10,000 | |||
| 38,000 | 38,000 | |||
Thanks, Please Like and share with your friends
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
