Q.1.

You are required to prepare Trading and Profit and loss Account for the
year ended 31.3.2008 and a balance sheet as on that date from the Trial
balance for the year ended 31.3.2008 and adjustments given in respect of
Shania consumers co-operative society, Mumbai.

Trial Balance

Particulars Debit (Rs.) Credit

(Rs.)
Share Capital - 50,000
Calls in arrears 5,000 -
Reserve fund - 7,500
Development fund - 2,500
Opening stock of consumers goods 55,000 -
Furniture 24,000 -
Education fund - 4,000
Creditors for purchase - 10,000
Sundry Debtors 15,000 -
Commission payable - 2,000
Salaries 35,500 -
Commission 8,700 -
Rent & Taxes 10,000 -
Postage 1,350 -
Travelling and conveyance 1,200 -
Printing & Stationery 1,500 -
Dividend paid for 2007-08 4,500 -
Audit Fees 2,000 -
Interest on Investment - 5,000
Profit & loss Appropriation account - 30,000
balance
Equipments 10,000 -
Admission Fees - 250
Purchase 8,00,000 -
Carriage & Coolie Charges 20,000 -
Investments 50,000 -
Sales - 10,30,000
Cash in hand 12,500 -
Cash at bank 85,000 -
Total 11,41,250 11,41,250
Adjustments:-

1. Outstanding Rent payable on 31.3.2008 was Rs.500.

2. Outstanding salary payable on 31.3.2008 was Rs.1,000.
3. Of the salaries paid Rs.1,500 was as an advance to employee on 31.3.2008.
4. Interest accrued on investments Rs.1,000.
5. Directors recommend 10% Dividend to its shareholders and transfer of Rs.500 to
Development fund.
6. Charge 5% Depreciation of furniture.
7. Closing stock of consumers goods is valued at cost Rs.70,000.
8. Provide Rs.100 for education Fund.

Q.2.From the following Trial balance and the adjustments given in respect of
Mittal Consumers Co-operative Society, Malkapur, prepare the Final Accounts
for the year ended 31.3.2008.

Trial Balance as on 31.3.2008

Particulars Debit Credit

 (Rs.) (Rs.)
Opening Stock of Furniture and Machinery 10,000 -
Share Capital - 75,000
Deposits from Members - 90,000
Printing and Stationery 3,000 -
Investment in shares of District co-operative bank 60,000 -
Investment in shares of co-operative Purchase and 36,000 -
Sales Society
Loan from Bank (Unsecured) - 92,000
Loan to Members 1,35,00 -
0
Interest Earned on loan given to member - 45,000
Purchase of Fertilizers and Machinery 3,70,00 -
0
Sales of Fertilisers and Machinery - 4,50,000
Office Equipment 25,000 -
Office Rent 5000 -
Salaries 25000 -
Travelling Expenses 5000 -
Carriage Inward 3500 -
Freight 1500 -
Interest Paid 8000 -
Reserve Fund - 1,86,000
Cash in hand 51,000 -
Cash at Bank 2,00,00 -
0
Total 9,38,00 9,38,00
0 0
Adjustments:
1. Closing Stock of Fertilisers and Machinery as on 31.3.2008 was Rs 70,000.
2. Outstanding office rent Rs. 1,000.
3. Office Equipments are to be depreciated @5%.
4. Audit Fees are to be paid of Rs. 6,500.
5. Directors recommend a dividend to Members @ 10%.
6. Contribute to Education Fund Rs. 100.

Q3.From the following Trial Balance for the year ended 31.3.2008 and the
adjustments in respect of Kumar Consumers Co-operative Society, Vashi,
Prepare the Final Accounts for the year ended 31.3.2008.

Trial Balance

Particulars Debit Credit

(Rs.) (Rs.)
Share Capital - 8,00,000
Reserve Fund - 2,00,000
Purchases 12,00,0 -
Stock in 1st April,2007 00 -
Carriage Inward 2,00,00 -
Salaries and Allowances to Staff 0 -
Building Fund 10,000 1,40,000
Share Capital Redemption Fund 1,40,00 25,000
Contribution to Staff provident fund 0 -
Staff Provident Fund - 34,000
Sales - 16,00,00
Bad Debts 10,000 0
Reserve for Bad and Doubtful Debts - -
Postage - 20,000
Machinery at Cost 8,000 -
 Travelling Expenses - -
Bonus to Employees 6,000 -
Printing and Stationery 28,000 -
Insurance 10,000 -
Building (at Cost) 10,000 -
Furniture (at Cost) 3,500 -
Depreciation Fund 11,000 -
Sundry Debtors 6,00,00 90,000
Sundry Creditors 0 -
Investment in shares of co-operative 1,00,00 25,000
Societies 0 -
Staff Provident Fund Investment - -
Fixed Deposit with District Central Co-op 2,00,00 -
Bank 0 -
Sundry Expenses - -
Repairs to Building 1,20,00 16,000
Interest on Fixed Deposit 0 12,000
Dividend Received on Shares 34,000 5,000
Transfer Fees 1,60,00 20,000
Profit and Loss Appropriation a/c balance 0 -
of last year 10,000 -
Cash at Bank 20,000
Cash in hand -
-
-
-
1,00,00
0
6,500
Total 29,87,0 29,87,0
00 00

Adjustments:
1. Closing Stock on 31.3.2008 was Rs.3,20,000.
2. Salaries unpaid on 31.2.2008 were Rs.8,000.
3. Prepaid Insurance is Rs.1,500.
4. Provide Reserve for Bad and Doubtful Debts @ 5%.
5. Provide Depreciation for the year as shown below:
6. Transfer to Education fund Rs.100.
7. Audit Fees are Outstanding for the year Rs.5,000.
8. Provide for Share Capital Redemption fund Rs.3,000.
9. Directors recommend Dividend to members @ 10 %.

Q4.Following is the Trial Balance of Omtex Consumers Co-operative Society

Ltd. for the year ended 31.3.2008.You are required to prepare trading and
Profit and Loss Account for the year ended 31.3.2008 and a Balance Sheet as
on that date.
Trial Balance

Debit Balance Rs. Credit Balance Rs.

 Interest Paid 2,800 Sales 2,00,0
Bank Charges 200 Share Transfer Fees 00
Salaries 18,000 Dividend 100
Contribution to staff Provident 1,000 Interest on Investment 2,000
Fund 250 Bank Interest 1,800
Travelling Expenses 2,250 Commission 7,000
Rent, Rates and Taxes 1,150 Sale of Forms 6,500
Postage 1,200 Share Capital 500
Printing and stationery 500 Reserve Fund 50,000
Audit Fees 1,100 Share Capital 10,000
General Expenses 500 Redemption fund 5,000
Bad Debts 2,000 Education Fund 500
Bonus to Employees 10,000 Staff Provident Fund 4,000
Opening Stock 1,10,0 Depreciation Fund 8,000
Purchases 00 Building Fund 5,000
Carriage & Freight 1,000 Bad Debts Reserve 2,000
Investment in Government 13,000 Loans from Bank 12,000
Securities 12,000 Loans from government 12,000
Investment in Shares of Co-op 4,000 Sundry Creditors 13,600
Societies 28,000
Investment to Staff Provident 42,000
Fund 18,000
Sundry Debtors 1,700
Buildings 1,300
Furniture and Fittings 28,000
Insurance 5,050
Repairs 35,000
Freehold Land
Cash in hand
Cash at Bank
Total 3,40,0 Total 3,40,0
00 00

Adjustments:
1. Closing Stock Valued at Rs.25,000.
2. Outstanding Expenses:
Items Rs.
Rent 25
0
Interes 20
t 0
3. Contribution to Education Fund Rs.100.
4. Provide for Contribution to Share Capital Redemption Fund Rs.1,000.
5. Insurance Paid in advance Rs.200.
6. Interest accrued in Investment but not received Rs.200.
7. Create Bad Debts Reserve of Rs.3,000.
8. Provide Depreciation on Building at 5 % and on furniture and Fittings at 5%.
9. Directors recommend Dividend of 10%.

Q5.From the following Trial Balance of Shrines Co-operative Purchase and sales
Society Ltd. as on 31.3.2008: Prepare Trading and Profit and Loss Account for
the year ended 31.3.2008 and Balance sheet as on that date after Considering
the adjustments thereafter.

Trial balance as on 31.3.2008

Particulars Debit Credit

(Rs.) (Rs.)
 Share Capital - 3,36,000
Reserve Fund - 60,000
Creditors - 40,000
Profit and Loss Account - 1,76,000
1.4.2007 3,92,00 -
Opening Stock 0 -
Furniture and Equipment 1,24,00 -
Container Deposit 0 -
Salaries 32,000 -
Sundry Debtors 3,00,00 -
Commission 0 -
Rent and Taxes 60,000 -
Postage 88,000 -
Travelling and Conveyance 60,000 -
Printing and Stationery 8,000 2,000
Admission Fees 18,000 -
Purchases 14,000 -
Collie Charges, Freight and - -
Cartage 63,40,0 76,20,00
Investment 00 0
Sales 1,60,00 -
Cash in hand 0 -
Bank Balance 2,40,00 8,000
Development Fund 0
-
6,000
4,00,00
0
-
Total 82,42,0 82,42,0
00 00

Adjustments:
1. Closing Stock is valued at Rs.4,40,000.
2. Outstanding Rent Rs.4,000 and Commission Payable Rs.20,000.
3. Rs.8,000 Salary was paid as advance as on 31.3.2008.
4. Accrued Income on Investment Rs.20,000.
5. Provide 10% Depreciation on Furniture and equipments.

Q6. From the following Trial Balance of Katrina Co-operative Society Ltd.
Mumbai as on 31.3.2008, Prepare Trading and Profit and Loss Account for the
year ended on 31.3.2008 and Balance Sheet as on that date after considering
the adjustments given.
Trial Balance
Particulars Debit Credit
(Rs.) (Rs.)
Share Capital - 1,60,000
Calls in Arrears 10,000 -
Reserve Fund - 15,000
Common Goods Fund - 5,000
Opening Stock of 1,10,00 -
Consumer’s Goods 0 -
Furniture 48,000 8,000
Education Fund - 20,000
Sundry Creditors - -
Sundry Debtors 30,000 4,000
Commission Payable - -
Salaries 71,000 -
Commission 17,400 -
Rent, Rates and Taxes 20,000 -
Postage 12,100 -
 Land 9,000 10,000
Interest on Investment - -
Equipment 20,000 -
Purchases 16,40,0 -
Investment 00 20,60,50
Sales 1,00,00 0
Cash in hand 0 -
Cash at Bank - -
25,000
1,70,00
0
Total 22,82,5 22,82,5
00 00
Adjustment:
1. Outstanding rent payable on 31.3.2004 was Rs.1,000.
2. Charge 5% depreciation on furniture.
3. Closing Stock of consumer’s goods is valued at cost Rs.1,40,000.
4. Interest accrued on Investment Rs.2,000.
5. Outstanding salary on 31st March, 2008 was Rs.2,000 & Rs.3,000 paid in advance.
6. Authorised capital 20,000 shares of Rs.10 each.

Q7.Shahrukh Co-operative Society rendering Loans and Rationing facilities to

its members has the Trial Balance as on 31.3.2008 as follows:
Trial Balance
Name of Accounts Debit Credit
(Rs.) (Rs.)
Member Share capital - 14,100
Member’s Deposit - 30,000
Dead stock 7,000 -
Printing & Stationery 750 -
Bank Share Purchased 5,000 -
Sahakari Sangh share 2,000 -
Purchased - 31,000
Bank Loan (simple) 83,250 -
Member’s Loan - 53,150
Interest on Member’s 1,20,00 -
Loan 0 1,27,500
Purchase of Rationing - -
Grains 9,000 -
Sale of Rationing Grains 10,550 -
Office Rent 1,250 -
Salaries 1,300 -
Travelling Expenses 900 -
Freight 33,500 -
Coolie Charges 26,250 45,100
Bank Current Account - -
Bank Interest 100
Reserve and Other Funds
Cash balance
Total 3,00,85 3,00,85
0 0
Adjustments:
1. Closing Stock of Rationing Grains on 31.3.2008 was Rs.35,000.
2. Outstanding Office Rent is Rs.1,000.
3. Provide for Audit Fees due Rs.600.
4. Provide Depreciation on Deadstock at 5%.
5 Provide Bad debts Reserve Rs.1,500.

You are required to prepare Trading, Profit and Loss Account for the year ending on
31.3.2008 and Balance Sheet as on that date.
Q8.Following is the Trial Balance of G. Consumers Co-operative Society as on
31-03-08.

Trial Balance
Particulars Debit Credit
(Rs.) (Rs.)
Share Capital - 80,000
Deposits from - 50,000
Members - 12,50,00
Sales - 0
Purchase Returns - 5,000
Suppliers - 10,000
Interest on - 12,000
Investment - 3,000
Rebate Received - 4,000
Common Good - 8,000
Fund 400 20,000
Price Fluctuation 86,000 -
Fund 6,000 -
Reserve Fund 10,05,0 -
Cash in hand 00 -
Cash at Bank 30,000 -
Furniture 5,000 -
Purchases 2,000 -
Customers 10,000 -
Carriage Inward 2,000 -
Sales Return 3,000 -
Rent 50,000 -
Audit Fees 10,000 -
Sales tax 2,00,00 -
Staff Salary 0 -
Printing & 30,000 -
Stationery 2,600
Investment
Stock in Trade
Interest Paid
Total 14,42,0 14,42,0
00 00

Adjustments:
1. Value of Closing Stock on 31.3.2008 was Rs.60,000.
2. Depreciation on Furniture @ 10% p.a.
3. Interest accrued on Deposits Rs.1,500 & Interest accrued on Investment Rs.6,000.
4. Outstanding Salary of Rs.3,000.
5. Outstanding Sales Tax of Rs.1,000.
You are required to Prepare Trading and Profit & Loss Account and Balance Sheet
as on 31.3.2008.
Q9.Following is the Trial Balance of Venkatesh Consumers co-operative Society
as on 31.3.2008

Trial Balance
Particulars Debit Credit
(Rs.) (Rs.)
Share Capital - 15,000
Deposits from Members - 30,000
Dead stock 7,000 -
Printing & Stationery 1,000 -
Investment in DCC Bank 25,000 -
Investment in Shares of Sadhana Co- 12,000 -
op Society - 31,000
Loans from Bank 45,000 -
Loans to Members - 15,000
Interest on Members Loan 1,20,00 -
Purchase of Fertilizers and Machinery 0 1,50,000
Sales of Fertilizers and Machinery - -
Office Rent 9,000 -
Office Salary 8,000 -
Travelling Expenses 1,500 -
Carriage Inward 1,300 -
Freight Charges 1,900 -
Bank Current Account 45,600 -
Bank Interest 8,300 59,000
Reserve Fund - -
Cash in Hand 4,400 -
Bank saving Account 10,000
Total 3,00,00 3,00,00
0 0

Adjustments:
1. Closing Stock of Fertilizers and Machinery as on 31.3.2008 was Rs.20,000.
2. Outstanding Office rent Rs.3,000.
3. Provide Depreciation @ 5% on Dead Stock.
4. Create Provision for Bad and Doubtful Debts Rs.1,500.
5. Provide for Audit Fees Rs.600.
You are required to prepare Trading and Profit & Loss Account for the year ending
as on 31.3.2008 and Balance Sheet as on that date.

Q10.The following Information is Supplied to you in connection with M.I.G. Co-

operative Society,Bandra.
Prepare Final Accounts.

Balance Sheet as on 31.3.2007

Liabilities Amount Assets Amount
(Rs.) (Rs.)
Share Capital 25,000 Cash in hand 250
Reserve Fund 2,500 Bank Current 1,600
Dividend Equalisation 1,000 Accounts 150
Fund 13,500 Shares in HDFC 57,000
Members Deposits 25,500 Bank 5,000
Loans From SBI 500 Members Loans 10,000
Salary Payable 6,000 Furniture &
Profit and Loss Accounts Fixtures
Balance Fixed deposits

74,000 74,000
 Receipts and Payment A/c for the year ended 31.3.2008
Receipts Amount Payments Amount
(Rs.) (Rs.)
Balance (1.4.2007) Bank Current A/c 12,600
Cash 250 Bank Loans 14,000
Bank Current A/c 15,500 Share Capital 700
Loans from Dena 25,000 Furniture & Fixtures 1,000
Bank 2,500 Godrej Typewriter 4,000
Share Capital 4,000 Members Deposits 500
Deposits from 4,500 Staff salaries 2,000
Members 100 Printing & Stationery 500
Members Short Term 350 Rent & Taxes 1,000
Loans 13,500 Travelling Expenses 1,100
Entry Fees 1,000 Allowance 1,500
Commission 50 Interest on Bank Loan 1,250
Interest on Loans Members Short Term 18,500
Interest on Fixed Loans 250
Deposits Audit Fees 7,850
Dividend Balance
Total 66,750 66,750

Adjustments:
1. Salaries payable Rs.600.
2. Provide depreciation @ 10% of Furniture and Fixtures and Typewriter
3. Interest on loans to members is receivable Rs.2,100.
4. Directors recommended dividend of 10%.

Q11.From the following Trial Balance of Soya Credit Co-operative Society,

Nariman Point, Prepare Final Account for the year ended 31st March 2008.
Trial Balance
Particulars Amount Particulars Amount
(Rs.) (Rs.)
Loans to Members 7,00,000 Share Capital 2,00,000
Contribution to Provident 480 Reserve Fund 18,000
Fund 1,040 Members Deposits 5,40,000
Insurance 3,420 Unpaid Dividend 400
Conveyance 960 Staff Provident 4,800
Printing and Stationery 12,000 Fund 7,000
Salary of MD 27,200 Profit and Loss 86,000
Staff Salary 1,920 2006-07 800
Interest on Loan 19,200 Interest 640
Interest on Deposits 1,680 Renewal Fees 4,000
Furniture 60,000 Sundry Income 1,200
Fixed deposits with other 4,360 Development Fund
Bank 30,580 Education Fund
Cash
Bank
Total 8,62,840 8,62,840

Adjustments:
1. Interest due on members Deposits Rs.2,000.
2. Interest due but not received Rs.4,800.
3. Salary due Rs.1,200.
4. Audit Fees due Rs.800.
5. Depreciate Furniture by Rs.5,000.
6. Directors propose to pay dividend of 5%.
7. Transfer Rs.100 to Education Fund and Rs.2,000 to Dividend Equalisation Fund.
8. Appropriations out of profits of the year 2006-07 were approved as follows:
Reserve Fund Rs.2,000
Dividend Rs.2,000.
Q12.You are required to prepare Profit and Loss of the year ended 31.3.2008
and a Balance Sheet as on that date from the following trial Balance of Shruti
Co-operative Credit Society as on 31.3.2008 and other information given:
Trial Balance

Particulars Debit Particulars Credit

(Rs.) (Rs.)
Cash in hand 350 Share Capital 3,75,000
Cash at Bank 7,000 Reserve Fund 25,000
Fixed Deposits with Maharashtra 77,500 Members Deposits 11,23,87
State Co-op. Bank 3,500 Unpaid Dividend 5
Furniture 40,000 Dividend Equalisation 1,050
Interest on Deposits 4,000 Reserve 9,000
Interest due on Loans 15,000 Staff Provident Fund 10,000
Salaries 2,500 Profit and Loss Appropriation 15,500
Office Rent 200 a/c Balance
Printing and Stationery 300 Interest 89,000
Travelling Expense 500 Renewal Fees 2,000
Insurance Premium 1,000 Miscellaneous Income 150
Contribution to Provident Fund 15,00,0 Co-operative development 1,025
Loan due from Members 00 Fund 250
Education Fund

Total 16,51,8 16,51,8

50 50

Additional Information:
1. Interest accrued on members deposits of Rs.2,500.
2. Interest accrued but not received Rs.1,000.
3. Addition to Furniture during the year Rs.500.
4. Provide Depreciation @ 10% on closing balance of Furniture.
5. Outstanding salary Rs.150.
6. Advance Salary Rs.250.
7. Audit Fees due Rs.1,500.
8. Authorised Capital; 50,000 shares of Rs.10 each.
9. Directors have recommended the following appropriations:
a) Dividend to shareholders of 5%.
b) Required amount to Reserve Fund.
c) Transfer to Co-operative Development Fund @ 5% of Net Profit after
contributing to Reserve Fund.
d) Transfer to Dividend Equalisation Reserve Rs.1,000.
e) Addition to Building Fund Rs.5,000.