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Class 11 Accountancy Previous Year Question Papers (CG Board) | Solved Papers PDF

Class 11 Accountancy (CG Board) के Previous Year Question Papers यहाँ उपलब्ध हैं। इस पोस्ट में आपको पिछले वर्षों के solved question papers मिलेंगे.

 

✅ Q.2. Limitations of Accounting Principles (Any 3)

Answer:

  1. Based on conventions, not laws
    Accounting principles are not legally binding, so different firms may follow different methods.
  2. Ignores qualitative aspects
    Only monetary transactions are recorded; factors like employee skill, reputation are ignored.
  3. Possibility of manipulation
    Different methods (depreciation, stock valuation) can change profits.

✅ Q.3. Cash Book (Bank & Discount Column)

👉 Given:

  • Jan 5: Bank balance = 34,000
  • Jan 6: Furniture purchased = 5,000
  • Jan 16: Paid to Hari = 3,000 (Discount allowed = 100)

📘 Cash Book Format

DateParticularsDiscountBankDateParticularsDiscountBank
Jan 5Balance b/d—34,000Jan 6Furniture—5,000
Jan 16Hari1003,000
Balance c/d—26,000

👉 Explanation:

  • Furniture purchase → bank payment → credit side
  • Payment to Hari → discount allowed (debit side), bank decreases
  • Closing balance = 34,000 – 5,000 – 3,000 = 26,000

✅ Q.4. Bank Overdraft

Answer:

Bank overdraft means withdrawing more money than available in bank account.

👉 It is treated as a liability for the business.

✅ Q.5. Objectives of Trial Balance (Any 3)

  1. Check arithmetic accuracy
    Debit total must equal credit total.
  2. Helps in preparation of final accounts
    Used to prepare Trading & Profit/Loss Account.
  3. Detect errors
    Helps in identifying some accounting mistakes.

✅ Q.6. Characteristics of Accounting (Any 4)

  1. Recording of transactions
  2. Monetary transactions only
  3. Classifying and summarizing
  4. Communicating results

🔁 OR Difference: Book-keeping vs Accounting

BasisBook-keepingAccounting
MeaningRecording transactionsSummarizing & analyzing
StageInitial stageFinal stage
SkillClericalAnalytical
ObjectiveMaintain recordsInterpret results

✅ Q.7. Journal Entries

 Pass necessary journal entries for following transactions: (i) Started business with Cash Rs. 20,000. (ii) Sold goods to Mohan for Cash Rs. 1,000. (iii) Paid Salary to Ramesh Rs. 500. (iv) Received commission from Radhe Rs. 200.

(i) Started business with cash

Cash A/c Dr.        20,000  
   To Capital A/c        20,000

(ii) Cash sales

Cash A/c Dr.        1,000  
   To Sales A/c          1,000

(iii) Salary paid

Salary A/c Dr.      500  
   To Cash A/c           500

(iv) Commission received

Cash A/c Dr.        200  
   To Commission A/c     200

 (OR) Accounting Equation
 prepare accounting equation in the basis of following transactions:
(i) Harsh started business investing Cash — Rs. 2,00,000.
(ii) Bought goods from Naman for Cash — Rs. 40,000.
(iii) Goods costing Rs. 10,000 was sold to Bhanu for — Rs. 12,000.
(iv) Purchased Furniture on credit — Rs. 7,000.

👉 Given:


    

  1. 
Harsh started business = 2,00,000

    2. 

  2. 
Bought goods (cash) = 40,000

    3. 

  3. 
Sold goods (cost 10,000 → sold 12,000)

    4. 

  4. 
Furniture purchased on credit = 7,000

    5. 





📊 Accounting Equation Table


TransactionAssetsLiabilitiesCapital
Started business+2,00,000 (Cash)—+2,00,000
Purchase goods–40,000 Cash +40,000 Stock—No change
Sold goods+12,000 Cash –10,000 Stock—+2,000 Profit
Furniture credit+7,000 Furniture+7,000—




👉 Final Position:


    

  • 
Assets = 2,09,000

    • 

  • 
Liabilities = 7,000

    • 

  • 
Capital = 2,02,000

    • 



✔ Equation satisfied:

Assets = Liabilities + Capital

✅ Q.8. Journal vs Ledger (4 Differences)

 Write four differences between Journal and Ledger.
BasisJournalLedger
BookOriginal entrySecondary entry
RecordingChronologicalClassified
ProcessFirst stepSecond step
FormatNarrativeAccount form

 Q.8 (OR) Opening vs Closing Entries

Differentiate between Opening entries and Closing entries. (Any 4)
BasisOpening EntriesClosing Entries
MeaningStart of yearEnd of year
PurposeBring balancesClose accounts
AccountsAssets & LiabilitiesNominal accounts
TimingBeginningYear end

✅ Q.9. Bank Reconciliation Statement

Q. 9. Prepare Bank Reconciliation Statement as on 31st March 2005 from the given informations: (i) Balance as per Cash book — Rs. 3,200 (ii) Cheque issued but not presented for payment — Rs. 950 (iii) Cheque deposited but not yet collected — Rs. 2,000 (iv) Bank charges debited by bank — Rs. 150

👉 Given:

  • Cash Book Balance = 3,200
  • Add: Cheque issued not presented = +950
  • Less: Cheque deposited not collected = –2,000
  • Less: Bank charges = –150

📘 BRS

ParticularsAmount (Rs.)
Balance as per Cash Book3,200
Add: Cheque not presented+950
Less: Cheque not collected–2,000
Less: Bank charges–150
Balance as per Pass Book2,000


Q.9 (OR) BRS

On 31st March 2017 the cash book showed a balance of Rs. 700 as cash at bank but the bank passbook made up to same date showed that cheques for Rs. 700, Rs. 300 and Rs. 180 respectively had not presented for payment. Also cheques amounting to Rs. 1,200 deposited into bank has not been credited. Prepare Bank Reconciliation Statement.

👉 Given:

  • Cash Book = 700
  • Add: Cheques not presented = 700 + 300 + 180 = 1,180
  • Less: Cheques deposited not credited = 1,200

✅ Q.10. Trial Balance

Q. 10. Prepare trial balance from following balances: Cost of goods sold Rs. 75,000, Debtors Rs. 30,000, Creditors Rs. 15,000, Fixed assets Rs. 25,000, Sundry expenses Rs. 1,00,000, Sales Rs. 1,00,000, Capital Rs. 45,500, Drawings Rs. 500, Opening stock Rs. 30,000, Closing stock Rs. 20,000.

👉 Given Items Classification:

Debit Side

  • Cost of goods sold → 75,000
  • Debtors → 30,000
  • Fixed Assets → 25,000
  • Sundry Expenses → 1,00,000
  • Drawings → 500
  • Opening Stock → 30,000

👉 Total Debit = 2,60,500

Credit Side

  • Creditors → 15,000
  • Sales → 1,00,000
  • Capital → 45,500

👉 Total Credit = 1,60,500

⚠️ Difference = 1,00,000 (Error / Missing adjustment)

👉 Closing stock (20,000) is not included in trial balance (goes to final accounts).

📘 Trial Balance Table

Debit (Rs.)Credit (Rs.)
2,60,5001,60,500

👉 Important Note (Exam Tip ⭐):

  • Trial balance must match
  • If not → error exists
  • Closing stock not shown in TB (usually)

✅ Q.10 Rectification of Errors (Journal Entries)

Rectify the following errors by passing rectification journal entries : (i) Sales Book was overcast by Rs. 700. (ii) Purchased book was overcast by Rs. 500. (iii) Sales return book was overcast by Rs. 300. (iv) Purchase return book was overcast by Rs. 200.

👉 Concept samjho first:

  • “Overcast” = total zyada add ho gaya hai
  • Isko correct karne ke liye extra amount ko reverse (minus) karte hain

📘 (i) Sales Book overcast by Rs. 700

👉 Sales zyada record ho gayi → reduce karna hai

Sales A/c Dr.        700  
   To Suspense A/c       700

📘 (ii) Purchases Book overcast by Rs. 500

👉 Purchases zyada record ho gayi → reduce karna hai

Suspense A/c Dr.    500  
   To Purchases A/c     500

📘 (iii) Sales Return Book overcast by Rs. 300

👉 Sales return zyada → reduce karna hai

Suspense A/c Dr.    300  
   To Sales Return A/c  300

📘 (iv) Purchase Return Book overcast by Rs. 200

👉 Purchase return zyada → reduce karna hai

Purchase Return A/c Dr.   200  
   To Suspense A/c            200

🔥 Shortcut Trick (Exam Tip ⭐):

ItemEffect
Sales / Purchase ReturnDebit
Purchases / Sales ReturnCredit

✅ Q.11 Trading Account

Prepare Trading account for the year ending 31st March 2022 from the following informations : Opening Stock Rs. 40,000, Purchases Rs. 80,000, Wages Rs. 30,000, Sales Rs. 1,40,000, Closing Stock Rs. 80,000, Advertisement Rs. 2,000.

👉 Given:

  • Opening Stock = 40,000
  • Purchases = 80,000
  • Wages = 30,000
  • Sales = 1,40,000
  • Closing Stock = 80,000
  • Advertisement = ❌ (ignore, goes to P&L)

📘 Trading Account

Dr. (Expenses)AmountCr. (Income)Amount
Opening Stock40,000Sales1,40,000
Purchases80,000Closing Stock80,000
Wages30,000
Gross Profit70,000
Total2,20,000Total2,20,000

👉 Calculation:

Gross Profit = Credit – Debit

= (1,40,000 + 80,000) – (40,000 + 80,000 + 30,000)
= 2,20,000 – 1,50,000
= 70,000

✅ Q.11 (OR) Net Profit Calculation

From the given information Calculate Net profit : Cash Sales Rs. 2,00,000, Credit Sales Rs. 3,00,000, Cost of goods sold Rs. 2,40,000, Indirect expenses Rs. 80,000.

👉 Given:

  • Cash Sales = 2,00,000
  • Credit Sales = 3,00,000
    👉 Total Sales = 5,00,000
  • Cost of Goods Sold = 2,40,000
  • Indirect Expenses = 80,000

📘 Step 1: Gross Profit

Gross Profit = Sales – COGS

= 5,00,000 – 2,40,000
= 2,60,000

📘 Step 2: Net Profit

Net Profit = Gross Profit – Indirect Expenses

= 2,60,000 – 80,000
= 1,80,000

✅ Q.12 Three Column Cash Book (Raja)

Prepare three column Cash-book of Raja from the following transactions : 2000

  • Mar. 1 — Cash in hand Rs. 5,000. Bank overdraft Rs. 7,000.

  • " 2 — Received cash from Ram Rs. 990. Allowed discount Rs. 10.

  • " 7 — Sold goods to Raja for cash Rs. 500.

  • " 10 — Cheque received from Mohan Rs. 720 and allowed discount Rs. 30.

  • " 11 — Deposited the above cheque into Bank Rs. 720.

  • " 16 — Withdrew from Bank Rs. 1,000.

👉 Columns:

Cash Book = Cash + Bank + Discount

📘 Step 1: Opening Balance

  • Cash in hand = 5,000 → Debit side
  • Bank overdraft = 7,000 → Credit side (because liability)

📘 Step 2: Transactions Analysis

🔹 Mar 2

Received from Ram → Cash ↑
Discount allowed → Debit side

🔹 Mar 7

Cash sales → Cash ↑

🔹 Mar 10

Cheque from Mohan → Bank ↑
Discount allowed → Debit

🔹 Mar 11

Cheque deposited → No effect (already in bank)

🔹 Mar 16

Withdraw from bank → Cash ↑, Bank ↓

📘 Three Column Cash Book

DateParticularsDisc.CashBankDateParticularsDisc.CashBank
Mar 1Balance b/d—5,000—Mar 1Balance b/d——7,000
Mar 2Ram10990—
Mar 7Sales—500—
Mar 10Mohan30—720
Mar 16Bank—1,000—Mar 16Cash——1,000
Balance c/d—7,4906,280
Total407,490720Total—7,4907,280

👉 Final Balances:

  • Cash = 7,490
  • Bank (OD) = 6,280

✅ OR Question (M/s Sudeep Kumar)

Enter the following transactions in Three Column Cash book of M/s Sudeep Kumar : 2008

  • April 1 — Cash balance Rs. 18,000, Bank balance (Dr.) Rs. 14,000.

  • April 3 — Cash Sales Rs. 10,000.

  • April 8 — Deposited in bank Rs. 16,000.

  • April 15 — Goods purchased and paid by cheque Rs. 5,000.

  • April 20 — Withdrawn Cash from bank Rs. 7,500. Ans. See Page No. 84, Chapter 4 Numerical Q. No. 10.

📘 Step 1: Opening Balance

  • Cash = 18,000
  • Bank = 14,000 (Dr.)

📘 Step 2: Transactions

🔹 April 3

Cash Sales → Cash ↑

🔹 April 8

Deposited in bank → Cash ↓, Bank ↑

🔹 April 15

Purchased by cheque → Bank ↓

🔹 April 20

Withdraw cash → Bank ↓, Cash ↑

📘 Three Column Cash Book

DateParticularsDisc.CashBankDateParticularsDisc.CashBank
Apr 1Balance b/d—18,00014,000
Apr 3Sales—10,000—
Apr 20Bank—7,500—Apr 8Bank——16,000
Apr 15Purchases——5,000
Apr 20Cash——7,500
Balance c/d—19,50017,500
Total—35,50014,000Total—35,50014,000

👉 Final Balances:

  • Cash = 19,500
  • Bank = 17,500

✅ Q.13 Balance Sheet (as on 31 Dec 2006)

Prepare Balance sheet as on 31st December 2006 from the given informations : Building Rs. 25,000, Machinery Rs. 15,000, Drawings Rs. 1,250, Bank Overdraft Rs. 2,500, Closing Stock Rs. 2,000, Bills Receivable Rs. 1,500, Cash in hand Rs. 1,500, Debtor's Rs. 6,000, Creditors Rs. 4,000, Bills Payable Rs. 1,000, Net profit Rs. 8,000, Furniture Rs. 750, Capital Rs. 37,500.

📘 Step 1: Adjust Capital

👉 Given:

  • Capital = 37,500
  • Add: Net Profit = +8,000
  • Less: Drawings = –1,250

✔ Adjusted Capital = 44,250

📘 Step 2: Classification

🔹 Assets (Debit side)

  • Building = 25,000
  • Machinery = 15,000
  • Furniture = 750
  • Closing Stock = 2,000
  • Bills Receivable = 1,500
  • Debtors = 6,000
  • Cash in hand = 1,500

👉 Total Assets = 51,750

🔹 Liabilities (Credit side)

  • Bank Overdraft = 2,500
  • Creditors = 4,000
  • Bills Payable = 1,000
  • Capital (Adjusted) = 44,250

👉 Total Liabilities = 51,750

📘 Balance Sheet Format

Balance Sheet as on 31 Dec 2006

LiabilitiesAmount (Rs.)AssetsAmount (Rs.)
Capital44,250Building25,000
Bank Overdraft2,500Machinery15,000
Creditors4,000Furniture750
Bills Payable1,000Closing Stock2,000
Bills Receivable1,500
Debtors6,000
Cash1,500
Total51,750Total51,750

✅ ✔ Final Answer:

👉 Balance Sheet Total = 51,750 (Matched) ✔

✅ Q.13 (OR) Gross Profit Calculation

From the following balances taken from the Books of Simmi and Vimmi Ltd. For the year ending March 31, 2017 Calculate the gross profit.

Particulars(₹)
Closing Stock2,50,000
Net sales during the year40,00,000
Net purchase during the year15,00,000
Opening stock15,00,000
Direct expense30,000

📘 Given:

  • Closing Stock = 2,50,000
  • Net Sales = 40,00,000
  • Net Purchase = 15,00,000
  • Opening Stock = 15,00,000
  • Direct Expenses = 30,000

📘 Step 1: Cost of Goods Sold (COGS)

COGS Formula:

Opening Stock + Purchases + Direct Expenses – Closing Stock

= 15,00,000 + 15,00,000 + 30,000 – 2,50,000
= 30,30,000 – 2,50,000
= 27,80,000

📘 Step 2: Gross Profit

Gross Profit = Sales – COGS

= 40,00,000 – 27,80,000
= 12,20,000

✅ ✔ Final Answer:

👉 Gross Profit = ₹12,20,000

🔥 Exam Tips (VERY IMPORTANT ⭐)

✔ Balance Sheet:

  • Capital always adjusted (Profit add, Drawings less)
  • Assets = Liabilities must match

✔ Gross Profit:

  • Always use COGS formula
  • Direct expenses add hote hain

✅ Q.14 Profit & Loss Account

Prepare profit and loss account from the following balances: Gross profit Rs. 9,000; general expenses Rs. 840; electricity expenses Rs. 400; rent Rs. 1,700; discount allowed Rs. 400; Discount received Rs. 1,800; Commission (Cr.) Rs. 1,000, Salary Rs. 700; trading expenses Rs. 400; carriage outward Rs. 100.

Adjustments: (i) Interest on capital to be allowed Rs. 800 (ii) Interest on drawing to be charged Rs. 1,200. (iii) Prepaid general expenses Rs. 40. (iv) Outstanding rent Rs. 300.

📘 Step 1: Understand Items

🔹 Debit Side (Expenses)

  • General Expenses = 840
  • Electricity = 400
  • Rent = 1,700
  • Discount Allowed = 400
  • Salary = 700
  • Trading Expenses = 400
  • Carriage Outward = 100
  • Interest on Capital = 800 (Adjustment → Expense)

🔹 Credit Side (Incomes)

  • Gross Profit = 9,000
  • Discount Received = 1,800
  • Commission = 1,000
  • Interest on Drawings = 1,200 (Adjustment → Income)

📘 Step 2: Adjustments

✔ (i) Interest on Capital → Add to Expense = 800

✔ (ii) Interest on Drawings → Add to Income = 1,200

✔ (iii) Prepaid General Expenses = 40

👉 New General Expenses = 840 – 40 = 800

✔ (iv) Outstanding Rent = 300

👉 New Rent = 1,700 + 300 = 2,000

📘 Step 3: Final P&L Account

Profit & Loss Account

Dr. (Expenses)Amount (Rs.)Cr. (Income)Amount (Rs.)
General Expenses800Gross Profit9,000
Electricity400Discount Received1,800
Rent2,000Commission1,000
Discount Allowed400Interest on Drawings1,200
Salary700
Trading Expenses400
Carriage Outward100
Interest on Capital800
Net Profit7,400
Total13,000Total13,000

✅ ✔ Final Answer:

👉 Net Profit = ₹7,400

✅ Q.14 (OR) Balance Sheet

From the given informations, Prepare a Balance sheet as on 31st December 2022: Bank Rs. 6,000, Buildings Rs. 50,000, Plant Rs. 27,000, Bank Overdraft Rs. 5,000, Bills Receivables Rs. 3,000, Drawings Rs. 2,500, Creditors Rs. 8,000, Outstanding Expenses Rs. 200, Debtors Rs. 12,200, Bills Payable Rs. 2,000, Furniture Rs. 1,500, Capital Rs. 75,000, Net Profit Rs. 16,000, Closing Stock Rs. 4,000.

📘 Step 1: Adjust Capital

  • Capital = 75,000
  • Add: Net Profit = +16,000
  • Less: Drawings = –2,500

👉 Adjusted Capital = 88,500

📘 Step 2: Classification

🔹 Assets

  • Bank = 6,000
  • Building = 50,000
  • Plant = 27,000
  • Furniture = 1,500
  • Bills Receivable = 3,000
  • Debtors = 12,200
  • Closing Stock = 4,000

👉 Total Assets = 1,03,700

🔹 Liabilities

  • Bank Overdraft = 5,000
  • Creditors = 8,000
  • Bills Payable = 2,000
  • Outstanding Expenses = 200
  • Capital = 88,500

👉 Total Liabilities = 1,03,700

📘 Balance Sheet Format

Balance Sheet as on 31 Dec 2022

LiabilitiesAmount (Rs.)AssetsAmount (Rs.)
Capital88,500Building50,000
Bank Overdraft5,000Plant27,000
Creditors8,000Furniture1,500
Bills Payable2,000Bills Receivable3,000
Outstanding Exp.200Debtors12,200
Closing Stock4,000
Bank6,000
Total1,03,700Total1,03,700

✅ ✔ Final Answer:

👉 Balance Sheet Total = ₹1,03,700 (Matched) ✔

✅ Q.15 Machinery Account (Fixed Installment Method)

 On 1st January 2015 Kapil Ltd bought a machine for Rs. 3,50,000. It purchased two more machines on 1st April 2016 and 1st October 2016 for Rs. 1,50,000 and Rs. 1,00,000 respectively. Depreciation was charged @ 10% per annum on Fixed installment method. On 1st January 2017 due to obsolence the first machine become out of use and was sold for Rs. 1,00,000. Prepare machinery account for first four years when the books are maintained on the basis of calendar year.

📘 Given:

  • 1 Jan 2015 → Machine = 3,50,000
  • 1 Apr 2016 → Machine = 1,50,000
  • 1 Oct 2016 → Machine = 1,00,000
  • Depreciation = 10% p.a. (Fixed Installment = Straight Line Method)
  • 1 Jan 2017 → First machine sold = 1,00,000

📘 Step 1: Depreciation Calculation

🔹 2015

  • 3,50,000 × 10% = 35,000

🔹 2016

(i) First Machine:

= 3,50,000 × 10% = 35,000

(ii) Second Machine (1 Apr → 9 months):

= 1,50,000 × 10% × 9/12 = 11,250

(iii) Third Machine (1 Oct → 3 months):

= 1,00,000 × 10% × 3/12 = 2,500

👉 Total Depreciation (2016) = 48,750

🔹 2017 (Before Sale)

First Machine depreciation (1 year):
= 3,50,000 × 10% = 35,000

👉 Book Value before sale:
= 3,50,000 – (35,000 + 35,000)
= 2,80,000

👉 Sold for 1,00,000
👉 Loss on Sale = 1,80,000

🔹 Remaining Machines (2017)

  • Second Machine = 1,50,000 × 10% = 15,000
  • Third Machine = 1,00,000 × 10% = 10,000

👉 Total = 25,000

🔹 2018

  • Second Machine = 15,000
  • Third Machine = 10,000

👉 Total = 25,000

📘 Machinery Account

DateParticularsAmountDateParticularsAmount
2015To Bank3,50,0002015By Depreciation35,000
By Balance c/d3,15,000
2016To Bank2,50,0002016By Depreciation48,750
By Balance c/d5,16,250
20172017By Depreciation60,000
By Bank (Sale)1,00,000
By Loss on Sale1,80,000
By Balance c/d2,76,250
20182018By Depreciation25,000
By Balance c/d2,51,250

✅ ✔ Final Key Points:

  • Loss on sale = 1,80,000
  • Depreciation correctly calculated year-wise
  • Balance carried forward each year

✅ OR Question (Reducing Balance Method)

A company purchase a Machine for Rs. 1,00,000 which include a boiler costing Rs. 10,000. Depreciation is charged @ 10% p.a. under reducing balance method. During the 5th year the boiler become useless and was sold for Rs. 2,000. Prepare Machinery account for 5 years in the books of company.

📘 Given:

  • Machine = 1,00,000 (including boiler 10,000)
  • Depreciation = 10% (WDV method)
  • Boiler sold in 5th year = 2,000

📘 Step 1: Separate Boiler

  • Machine = 90,000
  • Boiler = 10,000

📘 Step 2: Depreciation (WDV)

🔹 Machine (90,000)

YearValueDep (10%)Closing
190,0009,00081,000
281,0008,10072,900
372,9007,29065,610
465,6106,56159,049
559,0495,90553,144

🔹 Boiler (10,000)

YearValueDepClosing
110,0001,0009,000
29,0009008,100
38,1008107,290
47,2907296,561
56,5616565,905

👉 Sold for 2,000
👉 Loss = 5,905 – 2,000 = 3,905

📘 Machinery Account (Short Form)

  • Record purchase = 1,00,000
  • Depreciation each year
  • Boiler removed in year 5
  • Loss transferred to P&L

✅ Step 1: Trading Account

📘 Adjusted Values

  • Opening Stock = 50,000
  • Purchases = 1,75,000 – 2,000 = 1,73,000
  • Wages = 3,000
  • Sales = 1,80,000 – 3,000 = 1,77,000
  • Closing Stock = 32,000

📘 Trading Account

Dr.AmountCr.Amount
Opening Stock50,000Sales1,77,000
Purchases1,73,000Closing Stock32,000
Wages3,000
Gross Profit(–17,000)
Total2,26,000Total2,09,000

👉 Gross Loss = 17,000

✅ Step 2: Profit & Loss Account

📘 Adjustments First

  • Salary = 8,000 + 1,000 (outstanding) = 9,000
  • Insurance = 3,200 – 800 (prepaid) = 2,400
  • Commission = 4,000 – 1,000 (advance) = 3,000
  • Rent receivable = +2,000 (income)

🔹 Bad Debts & Provision

  • Old Provision = 2,500
  • Bad debts = 2,000 + 1,000 = 3,000

👉 Debtors = 82,000 – 3,000 = 79,000

  • New Provision @5% = 3,950
  • Increase = 3,950 – 2,500 = 1,450 (expense)
  • Discount on Debtors @2% = 1,580

🔹 Depreciation

  • Building = 1,10,000 × 6% = 6,600

📘 P&L Account

Dr. (Expenses)

ParticularsAmount
Gross Loss17,000
Salary9,000
Discount Allowed1,000
Insurance2,400
Rent & Taxes4,300
Trade Expenses1,500
Bad Debts3,000
Provision Increase1,450
Discount on Debtors1,580
Repairs1,600
Travelling4,200
Postage300
Telegram200
Legal Fees500
Depreciation6,600

👉 Total = 54,630

Cr. (Income)

ParticularsAmount
Discount Received500
Commission3,000
Rent Received6,000
Rent Receivable2,000

👉 Total = 11,500

📘 Net Loss

= 54,630 – 11,500
= 43,130

✅ Step 3: Adjust Capital

  • Capital = 3,00,000
  • Less Drawings = 32,000
  • Less Net Loss = 43,130

👉 Adjusted Capital = 2,24,870

✅ Step 4: Balance Sheet

📘 Liabilities

LiabilitiesAmount
Capital2,24,870
Bills Payable22,000
Loan34,800
Outstanding Salary1,000
Commission Received in Advance1,000
Total2,83,670

📘 Assets

AssetsAmount
Building (1,10,000 – 6,600)1,03,400
Fixtures20,000
Bills Receivable50,000
Debtors79,000
Less Provision(3,950)
Less Discount(1,580)
Net Debtors73,470
Closing Stock32,000
Prepaid Insurance800
Rent Receivable2,000
Cash (balancing)1,800
Total2,83,670

✅ ✔ Final Answers

  • Gross Loss = ₹17,000
  • Net Loss = ₹43,130
  • Balance Sheet Total = ₹2,83,670 (Matched) ✔

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