Solve Account Questions - Assignment 1
NEB Cash Flow Statement Practice
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Final Accounts Assignment
NEB Grade 12 Management
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Question 1: Manufacturing Focus
Prepare Trading A/c, P&L A/c, P&L Appropriation A/c, and Balance Sheet from the following Trial Balance:
| Particulars | Debit (Rs.) | Credit (Rs.) |
|---|---|---|
| Opening Stock | 80,000 | |
| Purchases | 7,50,000 | |
| Sales | 15,00,000 | |
| Direct Wages | 1,20,000 | |
| Carriage Inward | 15,000 | |
| Factory Fuel & Power | 25,000 | |
| Factory Rent | 40,000 | |
| Manufacturing Exp. | 30,000 | |
| Office Salaries | 90,000 | |
| Plant & Machinery | 4,50,000 | |
| Land & Building | 8,00,000 | |
| Sundry Debtors | 2,40,000 | |
| Sundry Creditors | 1,60,000 | |
| 10% Bank Loan | 3,00,000 | |
| General Reserve | 60,000 | |
| Share Capital | 9,00,000 | |
| Cash at Bank | 1,40,000 | |
| Total | 28,20,000 | 28,20,000 |
Additional Information:
- Closing Stock valued at Rs. 1,50,000.
- Depreciate Plant by 10% and Building by 5%.
- Outstanding Wages Rs. 5,000.
- Provision for Bad Debts at 5% on Debtors.
- Proposed Dividend at 10% on Share Capital.
💡 Small Hint: Factory items (Fuel, Rent, Power) must go to the Trading Account to find Gross Profit.
Question 2: Trading & Returns Focus
| Particulars | Debit (Rs.) | Credit (Rs.) |
|---|---|---|
| Opening Stock | 95,000 | |
| Purchases / Sales | 6,20,000 | 12,50,000 |
| Purchase Return | 10,000 | |
| Sales Return | 15,000 | |
| Productive Wages | 85,000 | |
| Custom Duty | 22,000 | |
| Clearing Charges | 8,000 | |
| Carriage Inward | 12,000 | |
| Advertising | 20,000 | |
| Audit Fee | 15,000 | |
| Insurance Premium | 12,000 | |
| Furniture & Fixture | 1,50,000 | |
| Patents | 1,00,000 | |
| 10% Debentures | 2,00,000 | |
| Sundry Creditors | 1,14,000 | |
| Share Capital | 6,00,000 | |
| Cash in Hand | 220,000 | |
| Total | 15,74,000 | 15,74,000 |
Additional Information:
- Closing Stock Rs. 1,10,000.
- Write off Furniture by 10% and Patents by 20%.
- Outstanding Custom Duty Rs. 2,000.
- Prepaid Insurance Rs. 3,000.
- Transfer Rs. 15,000 to General Reserve.
💡 Small Hint: Deduct Returns from their respective Purchase/Sales figures in the Trading Account before entering the final total.
Question 3: Comprehensive Company Set
| Particulars | Debit (Rs.) | Credit (Rs.) |
|---|---|---|
| Opening Stock | 1,10,000 | |
| Purchases | 8,40,000 | |
| Sales | 14,80,000 | |
| Wages | 95,000 | |
| Coal & Gas | 12,000 | |
| Factory Lighting | 18,000 | |
| Carriage Inward | 10,000 | |
| Rent & Rates | 36,000 | |
| Office Salaries | 1,20,000 | |
| Bad Debts | 5,000 | |
| Provision for Bad Debt | 4,000 | |
| Office Equipment | 3,00,000 | |
| Delivery Van | 4,50,000 | |
| Investment | 2,00,000 | |
| 12% Bank Loan | 2,00,000 | |
| Share Capital | 8,00,000 | |
| General Reserve | 1,00,000 | |
| Profit & Loss App. A/c | 60,000 | |
| Cash at Bank | 158,000 | |
| Total | 26,44,000 | 26,44,000 |
Additional Information:
- Closing Stock valued at Rs. 1,65,000.
- Outstanding Salary Rs. 10,000.
- Depreciate Office Equipment and Delivery Van by 10% each.
- Interest on Bank Loan is due for 6 months.
- Create further Bad Debts of Rs. 2,000.
💡 Small Hint: Calculate 12% interest on the Bank Loan for 6 months and add it to the loan in the Balance Sheet and P&L debit.
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