ACCOUNTANCY
ACCOUNTANCY
ACCOUNTANCY
SCHOOL
Worksheet-2020-21
Subject: Accountancy
Q1. Find cost of goods sold and closing stack from the following balances: sales Rs. 2, 64,000; Returns
Inward Rs. 2,000; Purchases Rs. 1, 81,000; Returns Outward Rs. 1,000; Direct Expenses Rs. 25,600;
Opening Stock Rs. 20,400; Gross Profit Rs. 60,200. (2)
Q2. Beta & Co purchased a plant for Rs. 50,000 on 1st January 2013. Addition was made on 1st July,
2013with plant coasting Rs. 27,000 and erection charges Rs. 3,000. On 1st April, 2015 plant bought on 1st,
January, 2013 became obsolete and was sold for Rs. 27,000.
It was decided to provide depreciation @ 10% p.a. on original cost method. Prepare Plant A/C from 2013
to 2015 assuming that accounts are closed on 31st December each year. (2)
Q3. Amit & Co. bought a machine on 1st April, 2014 for Rs 75,000 and spent Rs 5,000 towards freight
and installation.The firm decided to depreciate the machine @ 15% p.a. by written down value method.
Show the machinery account for 3 years assuming that books are closed on 31st March each year. (2)
Q4. From the following trial Balance of Kamal & Sons, Prepare Trading and Profit and Loss account for
the year ended 31st March, 2017 and a Balance Sheet as on that date:
(1) Stock on 31st March 2017 was valued at Rs 26,000 (market value Rs 30,000).
(2) Wages amounting to Rs 2,500 and salaries amounting to Rs 1,000 are outstanding.
(3) Prepaid insurance amount to Rs.250.
(4) Provide depreciation on plant and Machinery and on furniture and fixture at 10% p.a. (4)