In the Books of Reena, Meena and Teena

Dr. Trading Account for the year ended 31st March, 2019
Particulars Amt. (₹) Amt. (₹)
To Opening Stock 100,000
To Purchases Less Returns (Net Purchases) 396,000
To Manufacturing Wages 79,000
To Import Duty on Raw Material 70,000
To Factory Expenses 15,000
Add: Outstanding Factory Expenses 2,000 17,000
To Power and Fuel 16,000

To Gross Profit c/d (Transferred to Profit

and Loss account) 359,000

1,037,000
ks of Reena, Meena and Teena
for the year ended 31st March, 2019 Cr.
Particulars Amt. (₹) Amt. (₹)
To Sales Less Returns (Net Sales) 975,000
By Goods Withdrawn for Personal Use 6,000

By Closing Stock 56,000

1,037,000
 In the Books of Reena, Meena and Teena
Dr. Profit and Loss Account for the year ended 31st March, 2019 Cr
Particulars Amt. (₹) Amt. (₹)
To Stationery Consumed 16,000
To Sales Promotion Expenses 18,000
To Salaries & Wages 55,000
Add: Outstanding Salaries 2,500 57,500
To Postage & Telephone 35,000
To Electricity Charges 40,000
To Refreshment Expenses 9,500
To Bad Debts 1,000
Add: New Bad Debts (adj) 3,000
4,000
Add: New RDD (adj) 4,200
8,200
Less: Old RDD (T.B) (6,000) 2,200
Subscription for News Papers & Magazines 5,500
To Noting Charges 700
To Office Expenses 5,000
Add: Outstanding Office Expenses 1,500 6,500
To Provident Fund Contribution 4,000
To Loss by Fire 3,300
To Interest on Capital
- Reena 40,000
- Meena 30,000
- Teena 50,000 120,000
To Depreciation
- Machinery 21,960
- Furniture 9,500 31,460
To Loss on Sale of Machinery 1,280
To Net Profit (Transferred to Capital A/c)
- Reena 10,170
- Meena 10,170
- Teena 10,170 30,510

381,450
s of Reena, Meena and Teena
nt for the year ended 31st March, 2019 Cr.
Particulars Amt. (₹) Amt. (₹)
By Gross Profit b/d 359,000
By Interest on Drawings
- Reena 700
- Meena 1,200
- Teena 750 2,650
By Dividend Received 19,800

381,450
 In the Books of Reena, Meena and Teena
Dr. Partner's Capital Account
Particulars Reena Meena Teena Particulars
To Drawings A/c 14,000 24,000 15,000 By Balance b/d
To Interest on Drawings A/c 700 1,200 750 By Interest on Capital A/c
By Profit and Loss A/c (Profit)

To Balance c/d 435,470 314,970 544,420

450,170 340,170 560,170

By Balance b/d
na
Cr.
Reena Meena Teena
400,000 300,000 500000
40,000 30,000 50,000
10,170 10,170 10,170

450,170 340,170 560,170

435,470 314,970 544,420
 In the Books of Reena, Meena and Teena
Balance Sheet as on 31st March, 2019
Liabilities Amt. (₹) Amt. (₹)
Capital Accounts
- Reena 435,470
- Meena 314,970
- Teena 544,420 1,294,860

Bank Loan 14,000

Accounts Payable (Creditors) 85,000
Outstanding Expenses
- Salaries 2,500
- Factory Expenses 2,000
- Office Expenses 1,500 6,000

1,399,860
s of Reena, Meena and Teena
Sheet as on 31st March, 2019
Assets Amt. (₹) Amt. (₹)
Goodwill 82,500
Premises 315,000
Machinery 185,000
Less: Depreciation (21,960)
163,040
Less: Sale of Machinery (6,000)
157,040
Less: Loss on sale of Machinery (1,280) 155,760
Furniture 95,000
Less: Depreciation (9,500) 85,500
Bank 10,000
Bills Receivable 36,000
Motor Van 40,000
Petty Cash 1,400
Cash on Hand 7,000
Accounts Receivable (Debtors) 108,000
Less: New Bad Debts (adj) (3,000)
105,000
Less: New RDD (adj) (4,200) 100,800
Investments in Shares of ABC Co. 140,000
Add: Dividend Receivable 19,800 159,800
Land 346,000
Closing Stock 56,000
Insurance Claim Receivable 2,700

Stock of Stationery 1,400

1,399,860
 In the Books of Reena, Meena and Teena
H077 Journal Proper
Sr. No. Particulars L.F.
1 Closing Stock A/c Dr.
To Trading A/c
2 Reena's Capital A/c Dr. Dr.
Meena's Capital A/c Dr. Dr.
Teena's Capital A/c Dr. Dr.
To Interest on Reena's Drawings A/c
To Interest on Meena's Drawings A/c
To Interest on Teena's Drawings A/c
2 Interest on Reena's Capital A/c Dr.
Interest on Meena's Capital A/c Dr.
Interest on Teena's Capital A/c Dr.
To Reena's Capital A/c
To Meena's Capital A/c
To Teena's Capital A/c
3 Bad Debts A/c Dr.
To Debtor's A/c
4 Provision for Bad and Doubtful Debts A/c Dr.
To Debtor's A/c
5 Depreciation A/c Dr.
To Machinery A/c
To Furniture A/c
6 Loss due to fire A/c Dr.
Insurance Claim A/c Dr.
To Goods lost by fire A/c
7 Sale of Machinery A/c Dr.
Loss on sale of machinery A/c Dr.
To Machinery A/c
8 Bank A/c Dr. Dr.
To Dividend A/c
9 Salary A/c Dr.
Factory Expenses A/c Dr.
Office Expenses A/c Dr.
To Outstanding Salary A/c
To Outstanding Factory Expenses A/c
To Outstanding Office Expenses A/c
Total
Debit (₹) Credit (₹)
56,000
56,000
700
1,200
750
700
1,200
750
40,000
30,000
50,000
40,000
30,000
50,000
3,000
3,000
4,200
4,200
31,460
21,960
9,500
3,300
2,700
6,000
6,000
1,280
7,280
19,800
19,800
2,500
2,000
1,500
2,500
2,000
1,500
2,36,590 2,36,590