Fast Profit and Loss Tricks in Hindi for Bank PO, SSC CGL, LDC, KVS, DSSSB| Part 4

Balance Sheet of Fox ltd as at 31st March, 2019 is. Additional Information : 1. Investments costing ₹8,000 were sold during the years for ₹ 8,500. 2. Provision for Tax made during the years was ₹ 9,000. 3. During the years, part of the fixed assets costing ₹ 10,000 was sold for ₹ 12,000 and the gain (profit ) was included in the statement of Profit and Loss. 4. Interim Divided paid the year amounted to ₹ 40,000. Prepare Cash Flow statement .

The following is the Balance sheet of Tanu and Manu, who shares profit and losses in the ratio of 5:3, On December 31,2017: On the above date the firm is dissolved and the following agreement was made: Tanu agree to pay the bank loan and took away the sundry debtors. Sundry creditors accepts stock and paid Rs.10,000 to the firm. Machinery is taken over by Manu for Rs.40,000 and agreed to pay of bills payable at a discount of 5%.. Motor car was taken over by Tanu for Rs.60,000. Investment realised Rs.76,000 and fixtures Rs.4,000. The expenses of dissolution amounted to Rs.2,200. Prepare Realisation Account, Bank Account and Partners Capital Accounts.

Following is the summarised Balance Sheet of Philips India Ltd., as at 31st March, 2018. Additional Information: 1. Investments costing ₹ 24,000 were sold during the year for ₹ 25,500. 2. Providing for Tax made during the yeras was ₹ 27,000. 3. During the year, a part of the Fixed Assets costing ₹ 30,000 was sold for ₹ 36,000. The profits were include in the statement of Profit and Loss. 4. The Interim Dividend paid during the year amounted to ₹ 1,20,000. You are required to prepare Cash Flow Statement . 2. Purchase of Investment ₹ 54,000. 3. It is assuments are considered to be Mortage Loan has been taken at the end of current accounting year. 4. Current Investements are considered to be Marketable Securities since no infomation is given .

A and B are partners in a firm sharing profits and losses in the ratio of 3: 2 . On 31st March , 2019, their Balance Sheet was as follows : The firm was dissolved on 31st March , 2019 , and both the partners agreed to the following : (a) A took investments at an agreed value of ₹ 8,000 . He also agreed to settle Mrs. A's Loan. (b) Other assets realised as : Stock - ₹ 5,000 , Debtors - ₹ 18,500 , Furniture - ₹ 4, 500 , Plant - ₹ 25,000. (c) Expenses of realisation came to ₹ 1,600 . (d) Creditors agreed to accept ₹ 37,000 in full settlement of their claims . Prepare Realisation Account , Partner's Capital Accounts and Bank Account .

A and B aer partners sharing profits and losses in the ratio of 3 : 2. On 31st March, 2019, their Balance Sheet was as follows: They admit C as a partnre with effect from 1st April, 2019, for 1/3rd share on the following terms: (i) C will bring in RS.5,00,000 as capital and RS.2,00,000 as his share of goodwill but he actually contributed only RS. 1,20,000 towards goodwill. (ii) Building and Machinery ot be depreciated by 5%. (iii) Stock to be revalued at RS. 4,00,000. (iv) There is an unrecorded asset worth RS.1,20,000. (v) One month salary of RS.30,000 is outstanding. Prepare Revaluation Account, Bank Account, Capital Accounts of Partners and the Balance Sheet after the admission of C.

A, B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1 respectively. Their Balance Sheet as at 31st March, 2019 is as follows: D is admitted as a partner on 1st April, 2019 for equal share. His capital is to be RS.50,000. Following adjustments are agreed on D's admission: (a) Out of the Creditors, a sum of RS.10,000 is due to D, it wil be adjusted aganist his capital. (b) Advertisement Expenses of RS.1,200 are to be carried forward as Prepaid Expenses. (c) Expenese debited in the Profit and Loos Account includes a sum of RS.2,000 paid for B's personal expenses. (d) A Bill of Exchange of RS.4,000, which was previously discounted with the bank, was dishonoured on 31st March, 2019 but entry was not passed for dishonour. (e) A Provision for Doubtful Debts @5% is to be created against Debtors. (f) Expenses on Revaluation amounted to RS.2,100 is paid by A. Prepare necessary Ledger Accounts and Balance Sheet after D's admission.

Romesh and Bhawan were in partnership sharing profit and losses as 3:2. Their Balance Sheet as on March 31, 2017, was as follows: They decided to dissolve the firm. The following information is available: 1. Debtors were recovered 5% less. Stock was realised at books value and building was sold for Rs.51,000, 2. It is found that investment not recorded in the books amounted to Rs.10,000. The same were accepted by one creditor for this amount and other Creditors were paid at a discount of 10%. Bills payable were paid full, 3. Romesh took over some of the Investments at Rs.8,100 (book value less 10%). The remaining investment were taken over by Bhawan at 90% of the book value less Rs.900 discount, 4. Bhawan paid bank loan along with one year interest at 6% p.a, 5. An unrecorded liability of Rs.5,000 paid. Close the books of the firm and prepare necessary ledger accounts.

A and B are partners in a firm shaing profits in the ratio of 3 : 2. They admit C as a partner on 1st April, 2019 on which date the Balance Sheet of the firm was: You are required to parpare the Revaluation Account, Partners' Capital Accounts and Balance Sheet of the new firm after considering the following: (a) C brings RS.30,000 as Capital for 1/4th share. He also brings RS.10,000 for his for share of goodwill. (b) Part of the Stock which had been included at cost of RS.2,000 had been badly damaged in storage and could only expect to realise RS.400. (c) Bank changes had been overlooked and amounted to RS.200 for the year 2018-19. (d) Depreciation on Building of RS.3,000 had been omitted for the year 2018-19. (e) A credit for goods for RS.800 had been omitted from both purchases and creditors although the goods had been correctly included in Stock. (f) An expense of RS.1,200 for insurance premium was debited in the Profit and Loss Account of 2018-19 but RS.600 of this are related to the period after 31st March, 2019.