FINANCIAL ACCOUNTING

FOR MANAGERS

PRESENTED BY
POORNIMA.N
 JANUARY 2012 QUESTION PAPER
SECTION-C
8. From the following trial balance extracted
from the books of XY company Ltd. Prepare a
trading and profit/loss account for the year
ended 31st march 2011 and a balance sheet as
on that date.
 Trial balance as on 31/3/2011
Particular Debit (₨) Credit (₨)
Capital 1,00,000
Drawings 18,200
Adjusted purchases 1,00,000
Sundry debtors 60,000
Bills receivable 5,000
Sundry creditors 45,000
Bills payable 10,000
Reserve for bad & doubtful debts 3,000
Sales 2,50,000
Buildings 40,000
Plant and machinery 50,000
Salaries 18,000
Wages 22,000
Carriage and freight 3,000
Bad debts 1,000
General charges 3,000
Rent 5,000
Postage and stationery 800
Cash at bank 20,000
Cash in hand 2,000
Closing stock 60,000
TOTAL 4,08,000 4,08,000