Page 23 - Chapter-11.pmd

Accounts from Incomplete Records 459

Books of Mr. Bahadur
Trading and Profit and Loss Account
for the year ended March 31, 2014
Dr. Cr.
Expenses/Losses Amount Revenues/Gains Amount
Rs. Rs.
Opening stock 51,500 Sales
purchases
Cash 40,500 Cash 1,03,000
Credit 29,600 70,100 Credit 1,29,100 2,32,100
Wages 9,400 Closing stock 41,700
Gross profit c/d 1,42,800
2,73,800 2,73,800
General expenses 20,700 Gross profit b/d 1,42,800
Discount allowed 2,300 Discount received 700
Depreciation on motor car 14,340
Reserve for bad debts 2,750
Net profit 1,03,410
1,43,500 1,43,500

Balance Sheet as March 31, 2014

Liabilities Amount Assets Amount
Rs. Rs.
Capital 92,500 Motor car 71,700
Add Net profit 1,03,410 Less depreciation (14,340) 57,360
1,95,910 Furniture 30,000
Less Drawings (24,000) 1,71,910 Stock 41,700
Creditors 24,200 Debtors 55,000
Bills payable 10,200 Less Provision (2,750) 52,250
Bills receivable 16,500
Cash 8,500
2,06,310 2,06,310

Working Notes:

(i) Total Bills Receivable Account
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
Rs. Rs.
Balance b/d 24,400 Cash (receipt) 14,200
Debtors 6,300 Balance c/d 16,500
(bills drawn) (balancing figure)
30,700 30,700

2015-16