Wednesday, July 26, 2017
07:44 AM (GMT +5)

Go Back   CSS Forums > CSS Optional subjects > Group I > Accounting & Auditing

Reply Share Thread: Submit Thread to Facebook Facebook     Submit Thread to Twitter Twitter     Submit Thread to Google+ Google+    
 
LinkBack Thread Tools Search this Thread
  #21  
Old Monday, October 14, 2013
Member
 
Join Date: Dec 2012
Posts: 30
Thanks: 30
Thanked 13 Times in 7 Posts
KinzaShoaib is on a distinguished road
Unhappy

Quote:
q.no3.2007. Trad p&l. Acc. 149800. Bal sheet. 451910


My Profit is 65880 and balance sheet total is 452220
Reply With Quote
  #22  
Old Thursday, October 17, 2013
Member
 
Join Date: Sep 2013
Location: Peshawar
Posts: 36
Thanks: 15
Thanked 0 Times in 0 Posts
wikki khan is on a distinguished road
Default

Q3,2007
P & L 71051
pelwasaha what is ur bad debt amount?
Reply With Quote
  #23  
Old Thursday, October 17, 2013
Junior Member
 
Join Date: Mar 2013
Posts: 5
Thanks: 0
Thanked 2 Times in 1 Post
Palwashaa is on a distinguished road
Default Q. 3. 2007

B.D. new provision. 4310
+ B.D. 2190- old 2500 = 4000.
Reply With Quote
  #24  
Old Thursday, October 17, 2013
Junior Member
 
Join Date: Mar 2013
Posts: 5
Thanks: 0
Thanked 2 Times in 1 Post
Palwashaa is on a distinguished road
Default 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
Reply With Quote
  #25  
Old Thursday, October 17, 2013
Junior Member
 
Join Date: Mar 2013
Posts: 5
Thanks: 0
Thanked 2 Times in 1 Post
Palwashaa is on a distinguished road
Default 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
Reply With Quote
  #26  
Old Thursday, October 17, 2013
Member
 
Join Date: Oct 2013
Location: Islamabad
Posts: 56
Thanks: 65
Thanked 30 Times in 19 Posts
Ammara Khan88 is on a distinguished road
Default

Can somebody solve this question for me as I am unable to balance my balance sheet.

My solved figures are:

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
... please solve this question.

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

Required: Prepare a Trading and Profit & Loss account for the year ended December 31, 2000 and balance sheet as on that date.
Reply With Quote
  #27  
Old Thursday, October 17, 2013
Member
 
Join Date: Dec 2012
Posts: 30
Thanks: 30
Thanked 13 Times in 7 Posts
KinzaShoaib is on a distinguished road
Default

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
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
Bank overdraft= 28500
Taxes=1200
Reply With Quote
  #28  
Old Thursday, October 17, 2013
Member
 
Join Date: Oct 2013
Location: Islamabad
Posts: 56
Thanks: 65
Thanked 30 Times in 19 Posts
Ammara Khan88 is on a distinguished road
Default

Quote:
Originally Posted by KinzaShoaib View Post
Attempt this question again after making following corrections:



Bank overdraft= 28500
Taxes=1200
nahi abhi bhi ghalat araha hai B.S. Wese me pass sirf 2006-2008 tak k paper original nahi hai baqi sab original hain.
Reply With Quote
  #29  
Old Thursday, October 17, 2013
Member
 
Join Date: Dec 2012
Posts: 30
Thanks: 30
Thanked 13 Times in 7 Posts
KinzaShoaib is on a distinguished road
Default Final Accounts

Paper 2013

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


Paper 2010

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


Paper 2009

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


Paper 2008

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


Paper 2007

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

Paper 2006

I Do not find original paper on net ...

Paper 2005

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

Paper 2004

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

Paper 2003

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

Paper 2001

Gross Profit = 96400
Net Profit = 14910
Balance Sheet = 199710
Reply With Quote
The Following User Says Thank You to KinzaShoaib For This Useful Post:
Ammara Khan88 (Friday, October 18, 2013)
  #30  
Old Friday, October 18, 2013
Member
 
Join Date: Sep 2013
Location: Peshawar
Posts: 36
Thanks: 15
Thanked 0 Times in 0 Posts
wikki khan is on a distinguished road
Default 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?
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
CSS 2011 - Your Experience and tips? sajidnuml CSS 2011 Exam 61 Friday, September 16, 2011 06:16 PM
Accounting concepts Princess Royal Accounting & Auditing 1 Thursday, December 17, 2009 11:23 AM
The Types Of Accounting pakfame Accounting & Auditing 0 Saturday, February 23, 2008 02:41 PM


CSS Forum on Facebook Follow CSS Forum on Twitter

Disclaimer: All messages made available as part of this discussion group (including any bulletin boards and chat rooms) and any opinions, advice, statements or other information contained in any messages posted or transmitted by any third party are the responsibility of the author of that message and not of CSSForum.com.pk (unless CSSForum.com.pk is specifically identified as the author of the message). The fact that a particular message is posted on or transmitted using this web site does not mean that CSSForum has endorsed that message in any way or verified the accuracy, completeness or usefulness of any message. We encourage visitors to the forum to report any objectionable message in site feedback. This forum is not monitored 24/7.

Sponsors: ArgusVision   vBulletin, Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.