Sheet11. On 31st March 2009, trial balance of M/s Shivlal Agarwal and Co. is as follows. You have to prepare Trading ,P&L and Balance sheet as on that dateDr. AmountCr. AmountDrawing2000Capital24500General Expenses2500Creditors2500Building11000Sales65360Machinery9340Reserve For Bad Debts900Opening Stock16200Commission1320Power and Coal2240Bills Payable3850Insurance and tax1315Bank Overdraft3300Wages7200Loan7880Debtors6280Discount550Purchases47000Motor Car2000Car Expenses1800Cash Balance80Donations105109610109610

Adjustments to be done:-a. Closing stock is Rs 23500b. Write off Rs 160 for bad debts and create a reserve for bad bebts at 5% on debtorsc. Depreciate Machinery by 10%, Motor car by 12%d. Motor car is used for business and personal use therefore 1/3 of the car expenses and depreciation of car is to be charged in personal a/c of proprietore. Rs 750 are due for interest on loan and bank overdraftf. It was decided to transfer Rs 250 for Donation fund.

Sheet2Trading AccountOpening Stock16200Sales65360Wages7200Purchases47000 Closing stock23500704001846088860

Sheet3Profit and oss General Expenses2500Reserve For Bad Debts900Depn on Motor Car 240Power and Coal2240Commission1320160Insurance and tax1315GP18460Discount550Car Expenses1200Donations105Donations250Bad Debts160Depn. Machi93410516Depn. M Car160Int75010164206802068010516

Sheet4B SheetCapital24500Drawing2680Building1100010516Machinery84068406Creditors2500Motor Car176061202401760250306Bills Payable3850Debtors6280Bad Debts 160Bank Overdraft3300Cash Balance80Loan7880Stock 235000Os inet750Dona

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