17. pg no 13.50 / 9.

50
Total Sales = Cash sales + Credit sales
Credit Sales = Total Sales – Cash sales
= Rs. 1,60,000- Rs. 20,000
= Rs. 1,40,000
Dr. Cr.
Sundry Debtors A/c
Particulars Rs. Particulars Rs.
To Balance b/d 40,000 By Cash a/c 60,000
To Sales (Credit) 1,40,000 By bad debts 4,000
By Return inward 1,000
By Bills Receivable 18,000
By Balance c/d 97,000
1,80,000 1,80,000
18. 13.50 / 9.50
Dr. Cr.
Bills Receivable A/c
Particulars Rs. Particulars Rs.
To Balance b/d 30,000 By Cash (B/R
collected) 16,000
By Sundry Creditors 4,000
To Sundry Debtors By Sundry Debtors
(Bills received during 32,000 (Bills Dishonoured) 2,000
the year ) (B.F)
By Balance c/d 40,000
62,000 62,000
15. 13.58 / 9.58
Total Cash Received = Rs 10,000
Debtors = Rs. 8,000 Bill Receivable = Rs. 2,000
Dr. Cr.
Bills Receivable A/c
Particulars Rs. Particulars Rs.
To Balance b/d 2,000 By Cash 2,000
To Sundry Debtors 1,000 By Balance c/d 1,000
(Bills received during
the year)
3,000 3,000

Dr. Cr.
Sundry Debtors A/c
Particulars Rs. Particulars Rs.
To Balance B/d 5,000 By Cash 8,000
By Bills Receivable 1,000
To Sales (Credit) (B.F) 12,000 By Balance c/d 8,000

17,000 17,000
16. Pg no 13.58 / 9.58
Dr. Cr.
Bills Payable A/c
Particulars Rs. Particulars Rs.
To Cash (B/P By Balance B/d 5,000
Discharged during the 8,900
year)
To Balance c/d 7,000 By Sundry Creditors 10,900
(Bills Accepted
during the year) (B.F)
15,900 15,900

Dr. Cr.
Sundry Creditors A/c
Particulars Rs. Particulars Rs.
To Cash a/c 30,200 By Balance b/d 6,000
To Return Outwards a/c 1,200
To Bills payable 10,900 By Purchases (Credit) 40,300
(B.F)
To Balance c/d 4,000
46,300 46,300

Total Purchases = Cash Purchases + Credit Purchases

= Rs. 25,800 + Rs. 40,300 = Rs. 66,100
18. Pg no 13.59 / 9.59
Total Sales = Cash + Credit Sales
Credit Sales =Total Sales – Cash Sales = 3,00,000-20,000=
Rs. 2,80,000
Bills Receivable endorsed to Creditors:
Creditors A/c Dr. 10,000
To Bills Receivable a/c 10,000
Dr. Cr.
Bills Receivable A/c
Particulars Rs. Particulars Rs.
1.1.92 To Bal B/d 10,000 By cash (on bills
matured) 15,000
To Sundry Debtors A/c By Creditors 10,000
(Bills Received during 30,000 (Endorsed)
the year)
31.12.92 By Bal C/d 15,000
40,000 40,000
Dr. Cr.
Sundry Debtors A/c
Particulars Rs. Particulars Rs.
1.1.92 To Bal b/d 36,000 By Cash a/c 2,00,000
To Sales (Credit) 2,80,000 By return inwards a/c 15,000
By discount allowed 10,000
By bad debts a/c 3,000
By bills receivables a/c 30,000
31.12.92 by bal c/d 58,000
3,16,000 3,16,000
19. 13.59 / 9.59
Dr. Cr.
Sundry Debtors A/c
Particulars Rs. Particulars Rs.
To Balance B/d 20,000 By Cash 80,000
To Bills receivable By Discount Allowed 6,000
a/c(bills dishonoured) 7,000
By Bills Receivable 34,000
To Sales (Credit) (B.F) 140,000 (Bills received from
customers)
By bad debts a/c 13,000
By return inwards 10,000
By balance c/d 24,000
1,67,000 1,67,000
Dr. Cr.
Sundry Creditors A/c
Particulars Rs. Particulars Rs.
To Cash a/c 40,000 By Balance B/d 19,000
To return outwards a/c 4,800
To bills payable (bills By Purchases (Credit)
accepted) 9,200 (B.F) 51,200
To discount received a/c 1,000
To Balance c/d 15,200
70,200 70,200
6) Pg no 13.48 / 9..48
b) i) Goods taken = Rs. 6,000
ii) Car Expenses Drawings = Rs. 19,200*1/4 = Rs. 4,800
iii) Purchased motor cycle Drawings = Rs. 36,000
Total = Rs. 6,000+ Rs. 4,800+ Rs. 36,000 = Rs. 46,800
(Personal:Business = 1:3)
Example
For understanding Profit on Cost and Profit on Sales
Cost 100
+Profit 20
Sales 120

Profit on Cost 20 1
20% 100 5

Profit On sales 20 1
120 6

Cost 100
+Profit 25
Sales 125

Profit on Cost 25/100

¼
Profit on Sales 25/125

1/5
Sales 100
Profit 20
Cost 80

Profit on Cost 20/80

¼
Profit on Sales 20% 20/100

1/5

Cost of Goods Sold = Opening Stock + Purchases + Direct

Expenses – Closing Stock

Gross Profit = Sales – Cost of Goods sold

Sales = Cost of Goods sold + Gross Profit
8. Trading A/c
Particulars Rs. Particulars Rs.
To Opening Stock 4,000 By Sales (B.F) 25,625
To Purchases 20,000 By Closing Stock 3,500
To Gross Profit 5,125
(20,500* ¼)

29,125 29,125

Gross Profit on sales is 1/5

Gross Profit on cost ¼
Cost of Goods sold = Opening Stock + Purchases - Closing Stock
= 4,000 + 20,000 – 3,500
= Rs. 20,500

Sales = Cost of Goods sold + Gross Profit

Rs. 20,500 + Rs. 5,125 = Rs. 25,625
9. Cash sales + Credit sales = Total Sales
Total Sales = 15,000 + 10,000 = Rs. 25,000
Gross Profit on cost 1/3
Gross Profit on Sales = ¼
Gross Profit = Sales * ¼
= Rs. 25,000/1/4 = Rs. 6,250
Trading A/c
Particulars Rs. Particulars Rs.
To Opening Stock 5,000 By Sales 25,000
To Purchases 17,500 By Closing Stock (B.F) 3,750
To Gross Profit 6,250
28,750 28,750

Cost of Goods sold = Sales – Gross Profit

Rs. 25,000 – Rs. 6,250 = Rs. 18,750

Cost of Goods Sold = Opening Stock + Purchases + Direct

Expenses – Closing Stock

Closing Stock = Opening Stock + Purchases + Direct

Expenses – Cost of goods sold
 = 5,000 + 17,500 – 18,750
= Rs. 3,750

Cost 100
Loss 20
Sales 80

Loss on Cost 20/100

1/5

Loss On sales 20/80

1/4

12.
Sales = Rs. 80,000
Loss on Cost = 1/6

Loss on Sales ? = 1/5

Loss on Sales = 80,000*1/5 = Rs. 16,000

Trading A/c
Particulars Rs. Particulars Rs.
To Opening Stock 44,000 By Sales 80,000
(B.F)
To Purchases 60,000 By Closing Stock 8,000
By Gross Loss 16,000
1,04,000 1,04,000