Page 14 - HA- SUBJECTIVE - Copy

Question 35:

Following information is obtained from the books of Vinay, who maintained his books of
account under Single Entry System:

I. Receipts for the year ended 31st March, 2018: ₹
From Debtors 88,125
Cash Sales 20,625
Paid by Vinay 12,500

1,21,250
2. Payments during the year:
New plant bought 3,125
Drawings 7,500
Salaries 5,625
Wages 33,625
Interest paid 375
Rent paid 6,625
Light and power 2,375
Sundry Expenses 10,625
Sundry Creditors 38,125
1,08,000

Vinay banks all receipts and makes payments by means of cheque.

As at 31st March,2017 As at 31st March,
Assests and Liabilities 2018
(₹)
(Rs)
Sundry Creditors 12.625 12,000
Sundry Debtors 18,750 30,625
Bank 3,125 ?
Stock 31,250 15,625
Plant 37,500 36,575

From the above information, prepare Trading and Profit and Loss Account for the year ended 31st
March, 2018 and Balance Sheet as on that date.

Question 36:

Surya does not keep a systematic record of his transactions. He is able to give you the
following information regarding his assets and liabilities:

31st March 2017 31st March, 2018
(₹) (₹)
Creditors for goods 21,000 19,000
Creditors for expenses 1,500 1,800