Prepare trading Account profit and loss and profit and losss Approprition Account for the year ended 31 st March , 2019 and Balance sheet as at that date after accounting the following adjustments :(i ) stock as at 31 st March , 2019 was Rs. 50.000,(ii) Rent is Rs. 10.000 per month ,(iii) Depreciate Furniture and fixtures and Computers @ 20 % p.a ,Machinery @ 10% p.a and(iv) interest on capitals is allowed @ 6% p.a .

Salary and WagesCash PSPurchases.Sundry ExpensesParticularsStock (1.4.2019)Trial Balance as on 31st March, 2020.Debit33.000SalesFrofollowing Trial Balance and ustments of Kumbhar and Maroti youprepare Tradingand Profit and Loss Account for the year endedon 31st March, 2020 and a Balance Sheet as on that date.are requiredParticularsCredit?3,30,0004.200Discount p4,00010.000Creditors Ln20,0002.25.200Bank Overdraft10,00013,600Interest on Investment8,000Wages T-12.000Capitals:Bills Receivable6.000Kumbhar60,000Travelling Expenses2.000Maroti40,000Bad Debts c3,000Factory Expenses8,000Commission34504,000Investments pl20,000Debtors c40,000Tools and Equipments6.000urniture As12,000Goodwill Ag21,000wilding As50,0004.72,0004,72,000Adjustments:1) Partners share Profit and Losses in the ratio of their capitals.Closing Stock is valued at Cost Price 40,000 and at Market Price * 45,000.Kumbhar has withdrawn goods worth 1,200 for his own use, but no entry is made in the books.Uninsured goods worth 12,000 were lost by fire.* 450 are to be written off as bad debts.Unpaid Expenses: Salary and Wages 800 and Rent * 1,200.Depreciate Building @ 7.5% p.a​

Prepare Trading and Profit & Loss Account and Balance Sheet from the followingTrial Balance

P/L appropriation account2. Calculation of interest on capital or interest on drawing3. Past adjustments4. Calculation of NPSR5. Treatment of goodwill, investment fluctuation reserve, workmen compensation reserve7. Final problems on admission with capital adjustment8. Final problems on retirement9. Loan account at the time of retirement10. Calculation of profit upto the date of death 11. Realisation entries 12. Realisation expenses different cases13. Major heads and sub heads(income statement and balance sheet)14. Comparative statement and common size statement)15. Major ratios (current, quick, debt-equity, inventory turnover, trtr/tptr,gpr,npr etc)16. Cash flow statement

i) Below is a partial listing of the adjusted account balances of Lama Storeat year-end on December 31, 2018.Accounts Receivable 19,000Cost of Goods Sold 245,000Selling Expenses (includes depreciation) 35,000Interest Expense 1,000Accumulated Depreciation—Buildings 10,000Sales Discounts 22,000Inventory 45,000Administrative Expenses (includes depreciation) 30,000Sales Revenue 350,000Accounts Payable 14,000Interest Revenue 800Cuea/ACD/EXM/JANUARY – APRIL 2019/ACCOUNTING AND FINANCE Page 3ISO 9001:2008 Certified by the Kenya Bureau of StandardsRequiredSelect the appropriate account balance and prepare an income statement forLama Store for the year ended December 31, 2018

8% Debentures (2025) 250Administrative expenses 171Cash and cash equivalents 14Cost of sales 466Debenture interest 8Distribution costs 63Dividends paid 80Inventory at 31 December 2020 33Issued capital:Ordinary shares of $0.25 each at 31 December 2020 500Non-current assetsCost 1140Provision for depreciation at 1 January 2020 140Retained earnings at 1 January 2020 129Revenue 923Share premium at 31 December 2020 70Trade payables 42Trade receivables 792054 2054The following information is also available at 31 December 2020.1 Administrative expenses included insurance of $16 000 for four months ended31 January 2021.2 Depreciation should be provided on non-current assets at 25% per annum using the reducingbalance method. Depreciation charges should be allocated 20% to distribution costs and 80%to administrative expenses.3 The account of a credit customer, $3000, should be written off to administrative expenses asan irrecoverable debt.4 Debenture interest was outstanding for the second half of the year. The directors had issuedadditional debentures of $50 000 on 1 October 2020.