FINANCIAL REPORTING AND ANALYSIS
End-term Examination – Sep 2020
Time allowed: 2.5 hours
Maximum marks: 50
All questions are compulsory.
Part A
(Each question is of 10 marks)
Q.1 M/s R K Gupta & Sons deals in digital watches of multiple brands and has a presence in various locations of
Delhi-NCR. From the balances extracted from the books of M/s R K Gupta & Sons, prepare Trading & Profit & Loss
A/c and the Balance Sheet. The value of stock as on 31 March 2020 was Rs 3700.
Particulars
Amount (Rs)
Particulars
Amount (Rs)
Opening stock
1250
Plant & Machinery
6230
Sales
11800
Return outwards
1380
Depreciation
667
Cash in hand
895
Commission (Cr.)
211
Salaries
750
Carriage inwards
300
Discount (Dr.)
328
Furniture
670
Bills Receivable
2730
Printing charges
481
Wages
1589
Carriage outwards
200
Return inwards
1659
Capital
9228
Bank overdraft
4000
Creditors
1780
Purchases
8679
Bills payable
541
Petty Cash in hand
47
Bad debts
180
Jan 1
Inventory in hand (opening)
200
7
1400