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18. Credit Rs. 14,000 3,000 10,000 The following ledger balances are taken from the books...

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18. Credit Rs. 14,000 3,000 10,000 The following ledger balances are taken from the books of Babita Pustak Prakashan and Distributors for the year ending 31st Chaitra 2075. Debit Rs. Particulars 80,000 Cash in hand 70,000 Kumar Bank Ltd. NIC Bank Ltd Apprentice premium Provision for doubtful debts. 5,000 Bad debt..... 1,500 Heat & light 25,500 Rent 10,000 Wages Advance commission 30,000 Opening stock 20,000 Railway charges 205,000 Purchase Return to suppliers Sales...... 6,000 Retum from customer 105,000 Accounts payable. 75,000 Ordinary share of Nabil Bank Ltd. 15,000 Accounts receivable 26,000 Goodwill... 90,000 Machinery 250,000 Owner's equity 659.000 659,000 16,000 5,000 256,000 V. Additional information: i. Closing stock Rs. 60,000 ii. Write off 10% depreciation on machinery Rent outstanding Rs. 4500 iv. Prepaid wages Rs. 2000 One-fourth of the advance commission is still unearned vi. Provide for bad and doubtful debt @ 4%. vii. During the year, goods costing Rs. 10,000 were lost by accident and insurance company admitted claim for Rs. 6,000. Required: a. Trading account b. Profit and Loss account c. Balance Sheet Ans: (a) GP Rs. 60,500 (b) NP Rs. 36,900 (c) B/S total Rs. 414,400

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