You are provided with the followings: Balance Sheet as on 31st March, 2017 Assets Liabilities Capital...

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You are provided with the followings: Balance Sheet as on 31st March, 2017 Assets Liabilities Capital Fund Subscription received in Advance Outstanding Expenses Loan Sundry Creditors Total Receipts To Balance b/d 1,06,200 Building 2,000 21,000 1,000 6,000 14,000 40,000 10,000 1,76,200 Cash in Hand To Subscriptions : For 2017 For 2018 For 2019 To Entrance Fees To Locker Rent To Sale proceeds of old newspapers To Miscellaneous Income The Receipts and Payment account for the year ended on 31st March, 2018 20,000 Outstanding Subscription Outstanding Locker Rent Cash in Hand 1,000 9,000 99,000 Total ©The Institute of Chartered Accountants of India Payments By Expenses: For 2017 For 2018 12,000 20,000 By Land By Interest 24,000 By Miscellaneous Expenses 38,000 By Balance c/d 7,000 1,50,000 3,800 2,400 20,000 Cash in Hand 1,76,200 to 99,000 You are required to prepare Income and Expenditure account for the year ended 31st March, 2018 and a Balance Sheet as at 31st March, 2018 (Workings should form part of your answer). DSNQ 32,000 40,000 4,000 4,700 (7) DSNQ (b) With the following ratios and further information given below, you are required to prepare a Trading account and Profit & Loss account and a Balance Sheet of Sri Ganesh : (i) Gross Profit Ratio = 25% (ii) Net Profit / Sales = 20% (iii) Stock Turnover Ratio = 10 (iv) Net Profit/ Capital = 1/5 (v) Capital to Total other Liabilities = 1/2 (vi) Fixed Assets / Capital = 5/4 (vii) Fixed Assets/Total Current Assets = 5/7 (viii) Fixed Assets = 10,00,000 (ix) Closing Stock = 1,00,000 18,300 Marks 10 10 You are provided with the followings: Balance Sheet as on 31st March, 2017 Assets Liabilities Capital Fund Subscription received in Advance Outstanding Expenses Loan Sundry Creditors Total Receipts To Balance b/d 1,06,200 Building 2,000 21,000 1,000 6,000 14,000 40,000 10,000 1,76,200 Cash in Hand To Subscriptions : For 2017 For 2018 For 2019 To Entrance Fees To Locker Rent To Sale proceeds of old newspapers To Miscellaneous Income The Receipts and Payment account for the year ended on 31st March, 2018 20,000 Outstanding Subscription Outstanding Locker Rent Cash in Hand 1,000 9,000 99,000 Total ©The Institute of Chartered Accountants of India Payments By Expenses: For 2017 For 2018 12,000 20,000 By Land By Interest 24,000 By Miscellaneous Expenses 38,000 By Balance c/d 7,000 1,50,000 3,800 2,400 20,000 Cash in Hand 1,76,200 to 99,000 You are required to prepare Income and Expenditure account for the year ended 31st March, 2018 and a Balance Sheet as at 31st March, 2018 (Workings should form part of your answer). DSNQ 32,000 40,000 4,000 4,700 (7) DSNQ (b) With the following ratios and further information given below, you are required to prepare a Trading account and Profit & Loss account and a Balance Sheet of Sri Ganesh : (i) Gross Profit Ratio = 25% (ii) Net Profit / Sales = 20% (iii) Stock Turnover Ratio = 10 (iv) Net Profit/ Capital = 1/5 (v) Capital to Total other Liabilities = 1/2 (vi) Fixed Assets / Capital = 5/4 (vii) Fixed Assets/Total Current Assets = 5/7 (viii) Fixed Assets = 10,00,000 (ix) Closing Stock = 1,00,000 18,300 Marks 10 10

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