30)The following is the trial balance of Mr. Ramlal as at 31st Dec 2011
Dr Cr
Ramlals capital --‐‐‐‐ 86690
Stock as on 1st Jan 2011 46800 ‐‐‐‐‐
Sales ‐‐‐‐‐‐ 389600
Return inwards 8600 ‐‐‐‐
Purchases 321700 ‐‐‐‐
Return outwards - ‐‐‐‐ 5800
Freight and carriage 18600 ‐‐‐‐
Rent and taxes 5700 ‐‐‐‐
Salary and wages 9300 ‐‐‐‐
Sundry debtors 24000 ‐‐‐‐
Sundry creditors ‐‐‐‐ 14800
Bank loan @ 6% p.a ‐‐‐‐ 20000
Bank interest 9000 ‐‐‐‐
Printing and advertisement 14600 ‐‐‐‐
Misc income ‐‐‐‐‐ 250
Cash at bank 8000 ‐‐‐‐
Discount earned ‐‐‐‐‐ 4190
Furniture and fittings 5000 ‐‐‐‐
Discount allowed 1800 ‐‐‐‐
General expenses 11450 ‐‐‐‐
Insurance 1300 ‐‐‐‐
Postage and telegram 2330 ‐‐‐‐
Cash in hand 380 ‐‐‐‐
Travelling expenses 870 ‐‐‐‐
Drawings 40000 ‐‐‐‐
‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐
521330 521330
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Additional information
a)postage and telegram outstanding Rs 100
b) Provision for bad and doubtful debts be created at 5% and reserve for discount 2% on sundry debtors
c) Depreciation on furniture and fittings at 10%.shall be written off
d) Personal purchases amounting to Rs 600 has been included in the purchase day book
e) Interest on bank loan shall be provided for the whole year
f) A quarter of the amount of printing and advertising is to be carried forward to the next year.
g) Credit purchase invoice amounting to Rs 400 had been omitted from the books
h) Stock on 31-12-2011 was Rs 78600
Prepare trading and profit and loss account for the year ended 31-12-1987 and balance sheet as on 31 Dec 2011
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