| Account Name | Debit Amount ₹ | Credit Amount ₹ |
| Capital | | |
| Kajol | | 1,15,000 |
| Sunny | | 91,000 |
| Current accounts [on 1-04-2005*] | | |
| Kajol | | 4,500 |
| Sunny | 3,200 | |
| Drawings | | |
| Kajol | 6,000 | |
| Sunny | 3,000 | |
| Opening stock | 22,700 | |
| Purchases and Sales | 1,65,000 | 2,35,800 |
| Freight inward | 1,200 | |
| Returns | 2,000 | 3,200 |
| Printing and Stationery | 900 | |
| Wages | 5,500 | |
| Bills receivables and Bills payables | 25,000 | 21,000 |
| Discount | 400 | 800 |
| Salaries | 6,000 | |
| Rent | 7,200 | |
| Insurance premium | 2,000 | |
| Traveling expenses | 700 | |
| Sundry expenses | 1,100 | |
| Commission | | 1,600 |
| Debtors and Creditors | 74,000 | 78,000 |
| Building | 85,000 | |
| Plant and Machinery | 70,000 | |
| Motor car | 60,000 | |
| Furniture and Fixtures | 15,000 | |
| Bad debts | 1,500 | |
| Provision for doubtful debts | | 2,200 |
| Loan | | 25,000 |
| Legal expenses | 300 | |
| Audit fee | 900 | |
| Cash in hand | 7,500 | |
| Cash at bank | 12,000 | |
| | 5,78,100 | 5,78,100 |
| | | |
Prepare final accounts for the year ended March 31, 2015, with following adjustments:
(a) Stock on March 31, 2015 was ₹37, 500.
(b) Bad debts ₹3, 000; Provision for bad debts is to be made at 5% on debtors
(c) Rent Prepaid were ₹1, 200.
(d) Wages outstanding were ₹ 2,200.
(e) Interest on capital to be allowed on capital at 6% per annum and interest on drawings to be charged @ 5% per annum.
(f) Kajol is entitled to a Salary of ₹ 1,500 per annum.
(g) Prepaid insurance was ₹ 500.
(h) Depreciation was charged on Building, @ 4%; Plant and Machinery, @ 5%; Motor car, @ 10% and furniture and fixture, @ 5%.
(i) Goods worth ₹ 7,000 were destroyed by fire on January 20, 2015. The Insurance company agreed to pay ₹ 5,000 in full settlement of the claim.