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KinzaShoaib Monday, October 14, 2013 06:46 PM

[QUOTE]q.no3.2007. Trad p&l. Acc. 149800. Bal sheet. 451910[/QUOTE]:(

My Profit is 65880 and balance sheet total is 452220

wikki khan Thursday, October 17, 2013 07:08 AM

Q3,2007
P & L 71051
pelwasaha what is ur bad debt amount?

Palwashaa Thursday, October 17, 2013 11:48 AM

Q. 3. 2007
 
B.D. new provision. 4310
+ B.D. 2190- old 2500 = 4000.

Palwashaa Thursday, October 17, 2013 11:56 AM

Q. 3. 2007
 
net profit. 65570. chk again plz.
other indirect expenses: salaries. 20780
T S&C 32760
O.E. 3220
LOAN. 4250
CARG. 3420
RENT. 2710
DEP. 250
12840
B.D.
N.P 4310+2190-2500=4000. If there is my mistake. correct it plz

Palwashaa Thursday, October 17, 2013 12:04 PM

non profit organisation
 
paper 2004. Eagle club opening balance sheet. 70850.
income & exp. acc. 35283
balance sheet. 91133

paper 2008. rec& pay. acc. 35200
opng. blns sheet. 60750
banc sheet 31.dec.2006. 81450

Ammara Khan88 Thursday, October 17, 2013 04:03 PM

[B]Can somebody solve this question for me as I am unable to balance my balance sheet.
[/B]
My solved figures are:

[B]G.P: Rs. 97900
N.P: Rs. 16540
P/L A/c Balance: Rs.100400
B.S:
Total Assests: Rs. 216700
Total Liabilities: Rs. 218200

Hence 218200-216700= Rs. 1500 ka difference araha hai[/B]... [B]please solve this question. [/B]

1. The following trial balance is extracted from the books of a merchant on December 31, 2000: (CSS 2001)

PARTICULAR …….…….…….… DEBIT……... CREDIT
Furniture …….…….… ….……… …. 6,400 ……..... X
Motor vehicles …….… ….………….. 62,500 …….....X
Buildings …….……. ….…………… 75,000 …….... X
Capital account …… .…….………..... X …….. 125,000
Bad debts …….… ….…….…………. 1,250 ……..... X
Provision for bad debts …….………...... X …….... 2000
Sundry debtors and creditors …. .. 38,000 …… 25,000
Stock on January 1, 2000 … ….….. 34,600 …….... X
Purchases and sales …….……. …….. 54,750 …… 154,500
Bank overdraft …….…….………...… X …....… 25,500
Sales and purchases returns ………. 2000 …...… 1,250
Advertising …….…… …….……….. 4,500 ….....… X
Mark up (on overdraft) …….……….. 1,180 ….....… X
Commission …….……. ….……....… X ….....… 3,750
Cash …….…….… .…….…….…….. 6,500 …....… X
Taxes and insurance …….… .……… 12,500 …...… X
General expenses …….…… ………. 7,820 …......… X
Salaries …….…….……. .…….……. 33,000 ....….… X
TOTAL ………………… ………... 340,000 …. 340,000

The following adjustments are to be made:
(a) Stock in hand on December 31, 2000 was Rs. 32,000
(b) Depreciate building at the rate of 5% Furniture % Fittings @ 10% and motor vehicles @ 20%
(c) Rs. 850 is due for mark up on bank overdraft
(d) Salaries Rs. 3000 and taxes Rs. 12000 are outstanding
(e) Insurance amounting to Rs. 1000 is prepaid
(f) One third commission received in respect of the work to be done next year
(g) Write off a further sum of Rs. 1000 as bad debt and provision for bad debts to be made equal to 10%% on sundry debtors

[B]Required: Prepare a Trading and Profit & Loss account for the year ended December 31, 2000 and balance sheet as on that date.[/B]

KinzaShoaib Thursday, October 17, 2013 04:32 PM

Attempt this question again after making following corrections:

[QUOTE]1. The following trial balance is extracted from the books of a merchant on December 31, 2000: (CSS 2001)

PARTICULAR …….…….…….… DEBIT……... CREDIT
Furniture …….…….… ….……… …. 6,400 ……..... X
Motor vehicles …….… ….………….. 62,500 …….....X
Buildings …….……. ….…………… 75,000 …….... X
Capital account …… .…….………..... X …….. 125,000
Bad debts …….… ….…….…………. 1,250 ……..... X
Provision for bad debts …….………...... X …….... 2000
Sundry debtors and creditors …. .. 38,000 …… 25,000
Stock on January 1, 2000 … ….….. 34,600 …….... X
Purchases and sales …….……. …….. 54,750 …… 154,500
[COLOR="Purple"][SIZE="3"]Bank overdraft …….…….………...… X …....… 25,500[/SIZE][/COLOR]
Sales and purchases returns ………. 2000 …...… 1,250
Advertising …….…… …….……….. 4,500 ….....… X
Mark up (on overdraft) …….……….. 1,180 ….....… X
Commission …….……. ….……....… X ….....… 3,750
Cash …….…….… .…….…….…….. 6,500 …....… X
Taxes and insurance …….… .……… 12,500 …...… X
General expenses …….…… ………. 7,820 …......… X
Salaries …….…….……. .…….……. 33,000 ....….… X
TOTAL ………………… ………... 340,000 …. 340,000

The following adjustments are to be made:
(a) Stock in hand on December 31, 2000 was Rs. 32,000
(b) Depreciate building at the rate of 5% Furniture % Fittings @ 10% and motor vehicles @ 20%
(c) Rs. 850 is due for mark up on bank overdraft
(d) Salaries Rs. 3000 and [COLOR="DarkOrchid"][SIZE="3"]taxes Rs. 12000 are outstanding[/SIZE][/COLOR]
(e) Insurance amounting to Rs. 1000 is prepaid
(f) One third commission received in respect of the work to be done next year
(g) Write off a further sum of Rs. 1000 as bad debt and provision for bad debts to be made equal to 10%% on sundry debtors
[/QUOTE]

Bank overdraft= 28500
Taxes=1200

Ammara Khan88 Thursday, October 17, 2013 04:59 PM

[QUOTE=KinzaShoaib;659813]Attempt this question again after making following corrections:



Bank overdraft= 28500
Taxes=1200[/QUOTE]

nahi abhi bhi ghalat araha hai B.S. Wese me pass sirf 2006-2008 tak k paper original nahi hai baqi sab original hain.

KinzaShoaib Thursday, October 17, 2013 11:24 PM

Final Accounts
 
[U][B]Paper 2013[/B][/U]

Gross Profit = 5205240
Net Profit = 2584400
Balance Sheet = 11806440


[B][U]Paper 2010[/U][/B]

Gross Profit = 83530
Net Profit = 25305
Balance Sheet = 207180


[B][U]Paper 2009[/U][/B]

Gross Profit = 6200
Net Profit = 1361
Balance Sheet = 16174


[B][U]Paper 2008[/U][/B]

Gross Profit = 50334
Net Loss = 9365
Balance Sheet = 537365


[B][U]Paper 2007[/U][/B]

Gross Profit = 153000
Net Profit = 65570
Balance Sheet = 451910

[B][U]Paper 2006[/U][/B]

[I][COLOR="Blue"][SIZE="2"]I Do not find original paper on net[/SIZE][/COLOR][/I]:( ...

[B][U]Paper 2005[/U][/B]

Gross Profit = 133800
Net Profit = 65052
Balance Sheet = 347052

[B][U]Paper 2004[/U][/B]

Gross Profit = 35212
Net Profit = 22735
Balance Sheet = 141167

[B][U]Paper 2003[/U][/B]

Gross Profit = 144940
Net Profit = 34624
Balance Sheet = 221020

[B][U]Paper 2001[/U][/B]

Gross Profit = 96400
Net Profit = 14910
Balance Sheet = 199710

wikki khan Friday, October 18, 2013 08:27 AM

Q3, 2007
 
@palwashaa
app na plant and mach ki depriciation b find nahi ki or app na loan q profit and loss account mai dala hai?


08:22 PM (GMT +5)

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