FINAL ACCOUNTS

(A) Answer one sentence only.

(B) Write a word or a term or a phrase which can substitute each of the following statements.

(C) Fill in the blanks with appropriate alternative given in the brackets.

(D) State whether the following statements are TRUE/FALSE

Pro forma of Trading Account

Pro forma of Profit and Loss Account

Pro forma of Balance Sheet

Final Account Adjustments and their double Effects

NEW SYLLABUS TEXTUAL PROBLEM WITH SOLUTION

PROBLEM NO. 1: Amitbhai and Narendrabhai are in Partnership Sharing Profits and Losses equally. From the following Trial Balance and Adjustments given below, you are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date. SOLUTION

PROBLEM NO. 2: From the following Trial Balance of M/S Mitesh and Mangesh, you are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date. SOLUTION

3. From the following Trial Balance and adjustments given below of Reena and Aarti, you are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date. SOLUTION

4. From the following Trial Balance of M/S Meera and Madhav. Prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date. SOLUTION

TEXTUAL PROBLEMS WITH COMPLETE SOLUTION.

1. From the following Trial Balance of M/s. Ajay and Vijay, you are required to prepared Trading and Profit and Loss Account for the year ended 31st March, 2009 and Balance Sheet as on that date. [Text Book Problem No. 1]

2. Sanjay and Sudhir are partners sharing profit and losses in the ratio 3:2. The Trial Balance of the firm on 31st March, 2010 was as follows: [Text Book Problem No. 2]

3. Rohan and Roshan are partners in ‘Shan Traders’ sharing profits and losses in the ratio of 2:1[Text Book Problem No. 3]

4. Given below is the Trial Balance of M/s Roma and Mona partnership firm. [Textual Problem No. 4].

5. From the following Trial Balance of M/s. Kale and Gore, you are required to prepare. [Textual Problem No. 5]

6. Given below is the Trial Balance of M/s. Seeta and Geeta as on 31st March, 2010. [Textual Problem No. 6].

7. Madhuri and Minakshi are in a partnership sharing profits and losses in the ratio 3:2. [Textual Problem No. 7].

8. From the following Trial Balance of M/s. Mahesh and Umesh [Textual Problem No. 8],

9. Mohini and Rohini are in partnership firm sharing profits and losses equally [Textual Problem No. 9].

10. From the following Trial Balance of M/s. Sanjay and Vijay, you are required to prepare Trading and Profit and Loss Account [Textual Problem No. 10]

ADDITIONAL PROBLEMS WITH COMPLETE SOLUTION .

1.Kamlesh and Mahajan  [September 2011)

2.M/s Sanjay and Vijay, [March 2011]

3. Ganga and Godawari [September, 2009]

4. Kumbhar and Maroti  [March 2009]

5. Premlal and Sundarlal [September 2008]

6. Swati, Swity and Sweta (March 2008)

7. Jitesh and Lailesh are in partnership sharing profits and losses in the ratio of 2:1. [15] [October 2014 Board Question]

8. A and B are running a partnership firm. From the given Trial balance you are required to prepare a Trading and Profit & Loss A/c

9. Ramesh and Suresh are running a partnership firm and share profits and losses in the ratio of 3:2.

10. Ram and Shyam share profits and losses in the ratio 1:2 of a partnership firm.

11. Amar and Akbar are running a partnership firm and share profits and losses in the ratio of 3:7.

12. Vijay and Lakshmi run a partnership firm and share profits and losses in the ratio of their capitals.

13. Tom and Riddle share profits and losses in the ratio of 5:2 of their partnership firm.

14. Asha and Lata share profits and losses in the ratio of their opening capitals.

15. Ram and Lakhan share profits and losses in the ratio of 2:3

16. Kaveri and Narmada.

17. Miss Meena and Miss Reena

18. M/s Kale and Gore

19. Agarkar and Dravid

20. Misha and Latha

21. Sachin & Ganguly

22. Sonia and Sufi,

23. Surya and Abhijeet

24. Jitesh and Pritesh.

25.Kalavati and Lilavati

26. Mr. Kale and Mr. Gore

27. Ashok and Tanaji

28. Sharma and Varma

29. Shyam and Sundar,

30. Kamesh and Mani

31. Kaveri and Narmada

32. Devi & Jaya

33.M/s Radha and Krishna

34. Ronaldo & Ricardo

35. Mano and Prakash

36. Mani and Sonu

37. Meena and Reena

38. Karthik and Jones

39. Devi and Sridevi

40. Ajith, Vijay and Surya

41. Rajini and Kamal,

42. Ravi and Magesh

43. Kalavati and Lilavati

44. Dalal & Raja

45. Pankaj and Bindas

46. Asha and Nisha  

47.Pradeep and Prashant

48.Vinod and Vikas

49. Somnath and Ambadas

50. Nivedha and Suganya

51. M/s Bheem and Raju