In the books of Mr.

Madhav Singh
Manufacturing for the year ended 31st March, 2009
Dr. Cr.
Particulars Amount Amount Particulars Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.)
To Opening Work-in-progress 2,000 By Transfer to Trading A/c 72,800
To Raw Materials consumed: (cost of finished goods produced)
Opening Stock 3,500 By Closing Work-in-process 4,500
Add:Purchases 35,000
38,500
Less: Closing Stock -4,000 34,500
To Carriage Inwards 1,100
To Wages 27,000
To Salary of Works Manager 5,600
To Factory Expenses 3,400
To Factory Rent & Taxes 3,700
77,300 77,300

Trading and Profit & Loss A/c for the year ended 31st March 2009
Dr. Cr.
Particulars Amount Amount Particulars Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.)
To Opening stock of Finished Goods 18,000 By Sales less Returns 123,400
To Manufacturing A/c 72,800 By Closing Stock of finished goods 28,000
(Cost of goods produced)
To Gross Profit c/d 60,600
151,400 151,400
To Advertising 3,000 By Gross Profit b/d 60,600
To Office Rent and Insurance 4,800 By Discount Received 2,100
To Printing & Stationery 1,000
To Office Expenses 5,800
To Carriage Outwards 600
To Discounts 1,400
To Bad Debts 750
To Net Profit transferred to Capital A/c 45,350

62,700 62,700

Balance Sheet as on 31st March 2009

Liabilities Amount Amount Assets Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.)
Madhav Singh's Capital Account 41,000 Patents 2,000
Add: Net Profit 45,350 Plant & Machinery 20,000
86,350 Land & Buildings 26,000
Less: Drawings -6,100 80,250 Sundry Debtors 40,500
Cash in Hand 250
Mrs. Singh's Loan 4,000 Cash at Bank 4,000
Sundry Creditors 45,000
Closing Stock:
Raw Materials 4,000
Work-in-process 4,500
Finished Goods 28,000 36,500

129,250 129,250
In the books of Shubham Traders
Trading A/c for the year ended 31st March 2018
Particulars Rs. Rs. Particulars Rs. Rs. Balance Sheet as on 31st March 2018
To Opening Stock 25,000 By Sales 134,100 Liabilities Rs. Rs. Assets Rs. Rs.
To Purchases 48,000 By Closing Stock 18,000 Capital 40,000 Land & Building 30,000
Less: drawings (3,000) Less Drawings (8,000) Furniture and Fittings 3,000
Less: advertisement exp (1,500) 43,500 Add Profit 39,300 71,300 Computers 25,000 25,000
To Wages 4,800
To Carriage Inwards 1,300 Sundry Creditors 45,000 Sundry Debtors 45,000
To Gross profit c/d 77,500 Less: new bad debts (1,000)
Unpaid Wages 1,000 44,000
152,100 152,100 Less RDD @ 5% 2,200 41,800
Bank Loan 10,000
Profit and Loss A/c for the year ended 31st March 2018 Closing stock 18,000
Particulars Rs. Rs. Particulars Rs. Rs. Outstanding interest on loan 400
To Office Expenses 30,500 By Gross profit b/d 77,500 Prepaid Insurance 600
To Carriage Outwards 1,700 By discount received 2,500
To Advertisement 3,000
Add: free samples given 1,500 4,500 Cash in hand & at bank 9,300

To Bad debts 800

Add: new bad debts 1,000
Add: new RDD 2,200 127,700 127,700
Less: old RDD (1,000) 3,000

To Insurance 1,200
Less: prepaid (600) 600

To Interest on Loan 400

To Net Profit 39,300

80,000 80,000
In the Books of Jagfay corporation
Manufacturing account Balance Sheet
Dr. Cr. Liabilities Amount Amount Assets Amount Amount
Particulars Amount Amount Particulars Amount Amount (Rs.) (Rs.) (Rs.) (Rs.)
(Rs.) (Rs.) (Rs.) (Rs.) Capital (opening) 17500 Motor car 20000
To Opening Work-in -process 7000 By Closing Work-in-process 5500 Add: additional capital 5000 Less: Depreciation 1000 19000
To Raw Materials consumed: Add: Net profit 49555 Furniture 2250
Opening Stock 3000 By Cost of Production of finished 63210 Less: Drawings 1800 70255 Less: Depreciation 225 2025
Add: Purchases of Raw Materials 70500 goods during the period Plant & Machinery 22500
Less: Closing Stock of Raw Materials 1000 transferred to the Trading A/c Less: Depreciation 2250 20250
Less: Purchase of motor car 20000 52500 Sundry Creditors 5100 Closing Stock
To Direct or Productive Wages 6000 Raw material 1000
To Factory Overheads: Work-in-process 5500
Power and Fuel 300 Finished Goods 5000
Depreciation of Plant 2250 Sundry Debtors 18900
Factory Rent 450 Less: Bad debts 400
Fire Insurance of machinery 210 18500
68710 68710 Less: RDD 1850 16650
Fixed deposit 2000
Add: Accrued interest 80 2080
Profit and Loss Account Cash at Bank 1750
Dr. Cr Cash in hand 1800
Particulars Amount Amount Particulars Amount Amount Rent Recievable 300
(Rs.) (Rs.) (Rs.) (Rs.) Total 75355 75355
By Gross Profit b/d 64515 0
To Office Salaries 5400 By Interest accrued 80
To Office Rent 900 By rent accrued 300 Trading Account
To Printing & Stationery 180 Dr. Cr.
To Misc exp 840 Particulars Amount Amount Particulars Amount Amount
To Discount allowed 105 (Rs.) (Rs.) (Rs.) (Rs.)
To Advertisement 4500 To Opening Stock of Finished Goods 3500 By Sales 126225
To R.D.D.Account To Cost of Production of finished goods 63210 By Closing Stock of Finished Goods 5000
Add: New Bad debts 400 transferred from Manufacturing A/c
Add: New R.D.D. 1850
2250
Less: Old R.D.D. 60 2190 To Gross Profit c/d 64515
To Depreciation 1225 131225 131225
To Net Profit transferred to 49555
Capital Account

Total 64895 Total 64895

In the books of ShriMadhukar as on 31st March 2010
Trading and Profit and Loss Account for the year ended 31st March 2010
Dr. Cr.
Particulars Amount Amount Particulars Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.)
To Opening Stock 250,000 By Sales 1,987,500
To Purchases 1,550,000 Less: Goods sent on approval -75,000 1,912,500

1,550,000 By Closing Stock 725,000

Less: Furniture -50,000 1,500,000 Add: Stock on approval (at cost) 50,000 775,000
To Wages 100,000
To Carriage Inwards 50,000
787,500

2,687,500 2,687,500

To Salaries 160,000 By Gross Profit b/d 787,500

To Rates & Taxes 25,000 Net loss 18,375
To Carriage Outwards 110,000
To General Expenses 70,000
To Cash Discounts 20,000
To Printing & Stationery 15,000
To R.D.D. (New) 20,000
Add: Bad Debts 10,000
Add: Additional Bad Debts 25,000 55,000
To Advertisement 85,000
To Depreciation:
Furn& Fittings@10% 16,000
(11,000+5,000)
Motor Car @ 20% 48,000 64,000
To Insurance 45,000
To Salesmen's Commission 99,375
(5% on Rs. 19,87,500)
To Postage & Telephone 57,500

812,500 812,500

Balance Sheet as on 31st March 2010

Liabilities Amount Amount Assets Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.)
Capital 1,443,000 Motor Car 240,000
Less: Net loss -18,375 Less: Depreciation -48,000 192,000
1,424,625 Furniture & Fittings 110,000
Less: Drawings (20000) -20,000 Add: Additions during the year 50,000
1,404,625 160,000
1,404,625 Less: Depreciation -16,000 144,000
Sundry Debtors 500,000
Sundry Creditors 200,000 Less: Goods sent on Approval -75,000
Salesmen's Commission Outstanding 425,000
(Rs. 99375-Rs. 87,500) 11,875 Less:Further Bad Debts -25,000
400,000
Less: R.D.D.@5% -20,000 380,000
Closing Stock 775,000
(Rs.7,25,000+50,000)
Cash at Bank 115,000
Cash in hand 10,500

1,616,500 1,616,500
In the books of Mr. Phillip
Manufacturing,Trading & P&L A/c for the year ended 31st March 2008
Particulars Rs. Rs. Particulars Rs. Rs. Balance Sheet as on 31st March 2008
RM Consumed Liabilities Rs. Rs. Assets Rs. Rs.
To Opening Stock 350 By closing stock WIP 450
To purchases 8,500 By Trading A/c 19,630 Capital 65,000 Plant & mach (01.04.07) 17,000
Less: Closing RM (400)
(Transfer of cost of goods
Less: Purchase return (530) 7,920 produced)
Less Drawings (7,000)
To Opening WIP 200 Less: Depre. 0 17,000
To carriage inward 400 Less: Net Loss (11,390) 46,610
To Manufac. Wages 6,000 Building 15,000
Add:o/s wages 0 6,000 Sundry Creditors 1,000 Less: Depre. 0 15,000
To manufac. Expenses 5,000
To depre. On mach.
(1200+125) 0 Bank overdraft 4,000 Furniture balance 01.04.07 1,500
To Work Manager Salary 560
20,080 19,630
To opening Stock 9,000 By Sales 52,410 Outstanding: Less: Depre. 0 1,500
To Purchases 30,230 Wages 0
To manufacturing a/c 19,630 Less: Sales Return (86) 52,324 Salary 0 Inventory 8,400
(COGP) By closing stock 7,550 Int. on bank loan 0 0 Debtors 11,000
To gross profit 11,014 By goods destroyed by fire 10,000 Less: RDD 0 11,000
69,874 69,874 Loan 7,000 State Bank of Jaipur and Bikaner 140
Add: o/s int. 460 7,460 Cash in hand 30
To Salaries 2,800 By GP 11,014 Security Deposit 10,000 Prepaid Expenses:
Add: O/s Salary 0 By Discount Received 702
2,800 By Net loss 11,390 0
To carriage outward 420 Insurance claim Receivable 6000
To Depre.: Investment 15,000
Building 0 Less: Reduction in value (5,000) 10,000
Furniture 0 0 69,070 69,070
To Bank Charges 126
Add: o/s Int. 0 126
To disc. Allowed 150
To Bad debt. 150 Bank Loan INT.
Add: RDD 0 Int. on 8000 from June to Nov. 480 (8000X12%X6 months)
Less: old RDD (600) (450) Int. on 7000 from Dec to Mar 280 (7000X12%X4 months)
To Insurance 300 760
300

To loss due to embezzlement 10,000

To Bank Int. 300
Add: o/s Interest 460 760
To loss due to fall in value of
investment 5,000
To loss due to fire 4,000

23,106 23,106