M/s Saniya Sports Equipment does not keep proper records. From the following information find out profit or loss and also prepare balance sheet for the year ended March 31, 2017

Drawing Rs 10,000 p.m. for personal use, fresh capital introduce during the year Rs 2,00,000. A bad debts of Rs 2,000 and a provision of `5%` is to be made on debto Rs outstanding salary Rs 2,400, prepaid insurance Rs 700, depreciation charged on furniture and machine @ `10%` p.a.

From the following information, Calculate Capital at the beginning : Capital at the end of the year = Rs 4,00,000 Drawings made during the year = Rs 60,000 Fresh Capital introduce during the year = Rs 1,00,000 Profit of the current year = Rs 80,000

Prepare trading and profit and loss account of M/s Sports Equipments for the year ended March 31, 2017 and balance sheet as on that date : Closing stock as on March 31, 2017 Rs. 2,500

From the following balances of M/s Keshav Bros. You are required to prepare trading and profit and loss account and a balance sheet of March 31, 2017. Adjustment (i) Provision for bad debts @ 5% and further bad debts Rs. 2,000. (ii) Rent received in advance Rs. 6,000. (iii) Prepaid insurance Rs. 200. (iv) Depreciation on furniture @ 5%, plant and machinery @ 6%, building @ 7%.

Prepare the trading and profit and loss account and balance sheet of M/s Control Device India on March 31, 2017 from the following balance as on that date. Closing stock was valued Rs. 20,000. (a) Interest on capital @ 10%. (b) Interest on drawings @ 5%. (c) Wages outstanding Rs. 50. (d) Outstanding salary Rs. 20. (e) Provide a depreciation @ 5% on plant and machinery. (f) Make a 5% provision on debtors.

From the following balances of M/s Jyoti Exports, prepare trading and profit and loss account for the year ended March 31, 2017 and balance sheet as on this date. Closing stock Rs. 10,000. 1. To provision for doubtful debts is to be maintained at 5 per cent on sundry debtors. 2. Wages amounting to Rs. 500 and salary amounting to Rs. 350 are outstanding. 3. Factory rent prepaid Rs. 100. 4. Depreciation charged on Plant and Machinery @ 5% and Building @ 10%. 5. Outstanding insurance Rs.100.

Prepare a trading and profit and loss account for the year ending March 31, 2017. from the balances extracted of M/s Rahul Sons. Also prepare a balance sheet at the end of the year. Adjustments 1. Commission received in advance Rs. 1,000. 2. Rent receivable Rs. 2,000. 3. Salary outstanding Rs. 1,000 and insurance prepaid Rs. 800. 4. Further bad debts Rs. 1,000 and provision for doubtful debts @ 5% on debtors and discount on debtors @ 2%. 5. Closing stock Rs. 32,000. 6. Depreciation on building @ 6% p.a.

Prepare the bad debts account, provision for account, profit and loss account and balance sheet from the following information as on March 31, 2017 Adjustments : Bad debts Rs. 500 Provision on debtors @ 3%.

From the following balances of M/s Nilu Sarees as on March 31, 2017. Prepare trading and profit and loss account and balance sheet as on date. Closing stock as on March 31,2017 Rs. 22,000

Following is the extract of the Balance Sheet of, Neelkant and Mahdev as on March 31, 2017: During the year Mahadev’s drawings were Rs. 30,000. Profits during 2016-17 is Rs. 10,00,000. Calculate interest on capital @ 5% p.a for the year ending March 31, 2017.