Problems for Work Sheet

Q.1. The following trial balance is given to you.

Trial balance of a business

As on 31^st Ashadh,2068

Dr Account	Rs.	Cr Account	Rs.
Opening stock Purchase Salaries& wages Stationery & printing Selling expenses Carriage & clearing Rent & rates Fixed assets	30,000 56,000 25,000 5,000 10,000 4,000 15,000 2,00,000	Sales Capital Discount & commission Creditors Other liabilities	1,00,000 1,40,000 5,000 40,000 60,000
	3,45,000		3,45,000

Adjustments:-

a. Closing stock Rs.10,000

b. Depreciate fixed assets by 10% p.a.

c. Commission unearned Rs.2,000.

Required:- Adjustment entries & work sheet 2+6=8

Q.2. A co prepares the following trial balance at the end of its accounting period.

Dr Account	Rs.	Cr Account	Rs.
Opening stock Wages Purchase Salaries & allowance Supplies Dividend 15% Govt. Bonds Plant & machinery Preliminary expenses	50,000 20,000 1,30,000 45,000 12,000 23,000 1,50,000 2,50,000 1,65,000	Share capital Sales income General reserve Interest on bond Provision of tax P/L account	2,60,000 2,40,000 80,000 10,000 5,000 2,50,000
	8,45,000		8,45,000

Adjustments:-

§ Salaries still due Rs.10,000.

§ The BOD proposed dividend @ 5% and transferred to General reserve Rs.15,000.

§ Supplies on hand Rs.2,000. Provision for Tax Rs.9,500.

Required:- Work sheet with necessary adjustment entries; Income statement & balance sheet under company act 8+6+6=20