(Closing Entries). Give the necessary e...

(Closing Entries). Give the necessary entries in the Journal Proper of Ram on 31st March, 2019 to close their books:
Freehold Premises Rs. 30,000, Plant and Machinery Rs. 20,000, Sundry Debtors Rs. 25,000, Purchases Rs. 37,500, Sales Rs. 95,000, Discount (Dr.) Rs. 150, Discount (Cr.) Rs. 175, Sundry Creditors Rs. 12,500, Carriage Inwards Rs. 375, Carriage Outwards Rs. 600, Furniture and Fixtures Rs. 2,500, Wages Rs. 5,000, Bad Debts Rs. 750, Salaries Rs. 3,600, Commission (Cr.) Rs. 2,125, Capital Account- Rs. 25,000, Bills Payable Rs. 7,500, Bills Receivable Rs. 9,000, Trade Expenses Rs. 2,550, Ram's Loan Account Rs. 20,000, Cash in Hand Rs. 75, Cash at Bank Rs. 3,125.

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Enter the following in the books of Karan, Delhi to close his accounts on 31st March, 2019. Pass the closing entries. Opening Stock Rs. 20,000, Purchases Rs. 60,000, Wages Rs. 12,000, Salaries Rs. 16,000, Sales Rs. 88,000, Freight Inwards Rs. 4,000, Purchases Return Rs. 2,000, Sales Return Rs. 3,000, Carriage Outwards Rs. 2,500, Rent Rs. 3,000, Insurance Rs. 1,000, Discount Allowed Rs. 2,000, Discount Received Rs. 1,000, Repairs Rs. 1,000, Electricity Rs. 1,500, Commission Received Rs. 4,000, Interest on Investments Rs. 1,800, Interest (Dr.) 1,000, Closing Stock Rs. 40,000.

The position of a businessman on 30th June 1994 was as follows : - Cash Rs. 5,000, Debtors Rs. 20,000, Machinery Rs. 60,000, Stock Rs. 25,000, Capital Rs. 75,000. Calculate his liabilities.

Draw the Balance Sheet of R. Kumar as at 31st March, 2019 from the following information in the order of permanence: Cash in Hand Rs 11,200, Sundry Creditors Rs 28,800, Bills Payable Rs 3,500, Bills Receivable Rs 5,300, Sundry Debtors Rs 18,000 Machinery as on 1st April, 2018 Rs 85,000 and Depreciation provided for the year Rs 8,500, Furniture and Fixtures as on 1st April, 2018 Rs 21,000 and Depreciation provided for the year Rs 2,100, Closing Stock Rs 15,400. Proprietor's Capital Account Rs 90,000, His drawing during the year Rs 8,000. Net Profit as per Profit and Loss Account Rs 31,000

From the following balances, prepare Final Accounts of M/s Mangal & Sons for the year ended 31st March, 2019: Opening Stock Rs 12,500, Bills Receivable Rs 2,000, Sales Rs 70,000, Purchases Rs 37,500, Creditors Rs 20,000, Salaries Rs 3,850, Insurfance Rs 200, Debtors Rs 32,500, Carriage Rs 1,450, Commission Rs 750, Interest Rs 900, Printing Rs 250, Bills Payable Rs 3,150, Returns In Rs 1,300, Returns Out Rs 500, Bank Rs 5,250, Rent and Taxes Rs 1,300, Furniture Rs 1,000, Capital Rs 7,100, Stock on 31st March, 2019 Rs 15,000

From the following information, prepare Trading Account for the year ended 31st March, 2019: Cash Purchases Rs 1,50,000, Credit Purchases Rs 9,00,000, Returns Inward Rs 20,000, Cash Sales Rs 1,60,000, Credit Sales Rs 11,00,000, Reutrns Outward Rs 10,000, Freight Inwards Rs 3,000, Carriage Inwards Rs 3,000, Wages and Salaries Rs 4,000, Opening Stock Rs 1,50,000, Closing Stock Rs 88,000 but its net realisable value (market value) is Rs 84,000

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