Page 91 - DMGT403_ACCOUNTING_FOR_MANAGERS

Sundaram’s Capital
1,81,000
36,000
Sundaram’s Drawings
1,20,000
Plant and Machinery Balance on 1 April 2003
25,000
Plant and machinery additions on 1 October, 2003
95,000
Stock opening
Purchases
7,82,000
Return Inwards
12,000
Sundry debtors Particulars st st Debit ( ) Credit ( )
20,600
Furniture & Fixture 15,000
Freight duty 2,000
Rent Rate and Taxes 24,600
Accounting for Managers
Printing stationery 3,800
Trade expenses 5,400
Sundry creditors 40,000
Notes Sales 9,80,000
Return outwards 3,000
Postage & telegram 800
Provision for bad debts 400
Discounts 1,800
Rent of the premises sub let for the year upto 7,200
th
30 September 2004
Insurance charge 2,700
Salaries & wages 31,300
Cash in hand 6,200
Cash at bank 30,500
Carriage outwards 500
Total 12,13,400 12,13,400

Additional Information
(a) Stock on 31st March, 2009 94,600

(b) Write off 600 as Bad debts
(c) Provision for doubtful debts 5% on debtors
(d) Create a provision for discount on debtors & reserve for creditors 2%

(e) Provide a depreciation on furniture and fixture at 5% per @
(f) Plant machinery depreciation 20%
(g) Insurance unexpired 100
th
(h) A fire occurred on 25 March 2009 in the godown and stock of the value of 5,000
was destroyed, which was the insurance company admitted the claim fully which is
yet to be paid.

st
9. From the following figures extracted from the books of M/s Amal &Vimal 31 March, 2008
Dr. Cr.
Particulars ( ) ( )
Opening stock 30,000
Purchases 1,10,000
Sales 2,50,000
Building 55,000
Wages 23,000
Carriage inwards 3,000
Bills payable 10,000
Furniture 9000
Salaries 42,000
Advertisement 24,000
Coal and coke 2,000
Cash at bank 14,000
Pre-paid wages 1,000

Depreciation fund investment 25,000
Contd...
Machinery at cost (Rs.10,000 New) 60,000
Sundry debtors 20,000
Bad debts 3,000
86 LOVELY PROFESSIONAL UNIVERSITY
Depreciation fund 25,000
Sundry creditors 24,000
Rent rate and taxes 4,000
Trade expense 4000
Capital Amal 50,000
Vimal 40,000
Petty expenses 4,000
Provision for doubtful debts 1,000
Gas and water 1,200
Cash in hand 800
Outstanding rent 400

Bank loan 34,600
4,35,000 4,35,000