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Solution No. 15, In the books of John & Sons, Text Book Page No. 332 (, Trading Profit and Loss Account for the year ended 31-03-2019, Dr., Cr., Particulars, Amount Amount, Particulars, Amount Amount, Rs., Rs., Rs., Rs., To Opening Stock, 10370, By Sales A/c., 40000, Add: purchases, 35260, 45630 By Closing Stock, 32000, By Free Sample A/c., 2000, To Freight, 2500, Add: O.S. Exp., 500, 3000, To Power & Fuel, 1500, To Factory Salary, 2400, To Lighting, 1000, To Carriage Inward, 770, Total, , To Gross Profit B/d., To Mobile Charges, Add: O.S., To Repairs, To Carriage outward, To Professional Charges, To Advertisement A/c., To Patent Write off, To Depreciation A/c., Plant & Machinery, Office Equipment, To 5% Reserve on Debtors, Add: 2% Discount on Debtors, To Int. on Capital @ 5%, , 54300, , 19700, 74000, 3200, 300, , 1370, 2000, 2000, 760, , 3500, 800 By dividend A/c., 360 By Interest on F.D., 1240, 2000, 2000, , 74000, 19700, 2000, 3440, , 3370, , 2760, 2500, Total, 18530, 6610, 25140, Balance Sheet as on 31-03-2019, Liability, Amount Amount, Assets, Rs., Rs., Capital A/c., 50000, Cash in Hand, Add: Int. @ 5%, 2500, Goodwill, 52500, Patent, add: Net Profit, 6610, 59110 Less : 50% Off, Bank Loan, 15000 Cash at Bank, Bills Payable, 8500 Furniture, Creditors, 38260 Debtors, General Reserve, 1500 Less: 5% Reserve, Outstanding Expenses, Mobile Charges, 300, Less : 2% discount, Freight, 500, 800 Plant & Machinery, Less 10% Dep., Office Equipment, Less 20% Dep., closing Stock, 123170, , 25140, Amount Amount, Rs., Rs., 5200, 10000, 4000, 2000, 2000, 4400, 12000, 40000, 2000, 38000, 760, 37240, 13700, 1370, 12330, 10000, 2000, 8000, 32000, 123170

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