Question #01:

The following balances were extracted from the books of a Sole Trader on 30th June 2023. Prepare
Trading Account:

Particulars Rs. Particulars Rs.

Opening Stock 2000 Freight In 100
Sales 8000 Wages 75
Return outwards 200 Return Inwards 300
Purchases 4000
th
Closing Stock @ 30 June 2023 is Rs. 1500.

Question #02:

From the following figures prepare P&L a/c of Moosa Butt & Co, For the period ended 30 th June 2023.

Particulars Rs. Particulars Rs.

Salaries & Wages 6000 Advertising 2000
Commission Paid 400 Discount Allowed 3600
Postage and Telegram Exp. 300 Rent Received 3400
Insurance Exp. 600 Interest on Investment 3000
Interest Paid 800 Bad Debts 1800
Carriage Out 1000 Establishment Exp. 190
Gross Profit 58500

Question #03:

From the following information prepare Trading and P&L a/c and Balance Sheet for the year ended 31 st
Dec 2022

Particulars Rs. Particulars Rs.

Capital 35000 Taxes & Insurance 2800
Drawings 11000 Discount Allowed 300
Opening Stock 30000 Intrest Expense 215
Purchases 75000 Bad Debts 400
Purchases Return 1300 Permises 6000
Sales 125000 Machinery 10000
Sales Return 2700 Furniture & Fixtures 2450
General Expenses 3675 Sundry Debtors 46100
Wages 3500 Sundry Creditors 30550
Salaries 5600 Cash In Hand 1030
Travelling Exp 660 Bank Over Draft 10000
Advertising 420

Stock 31st December was Rs. 42000

Question #04:

From the following particulars it is required to find G.P of Zainab Butt & Co.

Particulars Rs. Particulars Rs.

Inventory on 1-1-2022 15000 Sales 127000
Purchases 90000 Purchase Discount 5000
Sales Discount 5000 Purchase Return & Allowances 3000
Freight In 4000 Sales Ret. & Allowances 2000
Fuel,Oil & Gas 3000
At the end of year it was found that Inventory in hand is Rs. 18000.

Question #05:

The following extracts of Trial Balance has been taken from books of Zoya Butt Hardware Store pn 31 st
March 2023.

Particular Rs. Rs.

Opening Inventory 172500
Sales 527770
Sales Discount 4110
Sales Return & Allowances 9728
Purchases 209060
Purchases Discount 1877
Purchases Return & Allowances 4282
Freight In 11221
Sales Salaries Exp 102030
Sales Supplies Exp. 1642
Rent Exp. Selling Space 18000
Utility Exp. Selling Space 11256
Advertising Exp. 21986
Depreciation Exp. Selling Fixture 6778
Office Salaries Exp 47912
Office Supplies Exp. 782
Rent Exp. Selling Space 4000
Depreciation Expense Office Equipment 3251
Postage Expense 626
Insurance Exp. 2700
Interest Exp. 3600
Interest Income 4800

Closing Inventory is Rs. 156750