Depreciate the Machinery at 10%. 1 Answer to J. Wright, a sole trader, extracted the following trial balance from his books at the close of business on 31 March 2017. Following Trial Balance has been extracted from the books of Shri Sunder Lal on 31st March, 2018: Closing Stock on 31st March, 2018 was Rs. Dr Cr £ £ Purchases and sales 61,420 127,245 Inventory 1 April 2016 7,940 Capital 1 April 2016 25,200 Bank overdraft 2,490 Cash 140 Discounts 2,480 62 …
Equity Share Capital (5, 0 0 0 share of R s. 1 0 0 each fully paid) 5, 0 0, 0 0 0: Following Trial Balance has been extracted from the books of Shri Sunder Lal on 31st March, 2018: Closing Stock on 31st March, 2018 was Rs. Trial Balance as on 31st March, 2002 Particulars Debit Credit Rs. Following Trial Balance has been extracted from the books of Shri Sunder Lal on 31st March, 2018: Closing Stock on 31st March, 2018 was ₹ 12,74,000. Sundry debtors 60,000 Bad debts 5,000 Provision for bad & doubtful debts 10,000 Adjustment Create provision for bad & doubtful debts @ 5% on Sundry Debtors. You are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as at that date after making the following adjustments: The following information is provided on Rs death: (i) Balance in his capital account in the beginning of the year was Rs. Show all workings. Q.7 The following trial balance has been extracted from the books of Ms. X. At the end of the year balance of purchases account will be transferred to the debit of trading account. Pawan Kumar, prepare a Trading Account, Profit & Loss Account for the year ended 31st March, 2014 and a Balance Sheet as at that date : At the end of the year balance of sales account will be transferred to the credit of trading account.
(viii) Provide Depreciation on machinery @ 10% and on Furniture @ 5%. The 16 company was Incorporated on 1-08-2004 to take over the business of a proprietary concern from 1-4-2004. Q.3 Following Trial Balance is extracted from the books of Shrikrishna (Pvt.) 140 Discounts. You are required to prepare Trading and Profit & Loss Account for th e year ended 31st March, 1996 and Balance Sheet as at that date, after making th e necessary adjustments. 158,800 Cash in hand Rs. Following are the balances extracted from the Trial Balance of Mr.Mohan as on 31st March, 2002. 28.10A J Wright, a sole trader, extracted the following trial balance from his books at the close of business on 31 March 20X9: Dr Cr £ £ Purchases and sales. 2017 Trial Balance as on 31st March, 2002 Particulars Debit Rs.Credit Rs. Prepare the finalaccounts for the year ended 31 March 2009 and a balance sheet on that date: Debit Credit Rs.
360 as Bad Debts and maintain the Provision for Doubtful Debts at 5% on Debtors. The following are the balances extracted from the books of Raghunath Ji as on 31st March, 2017. 470,200 Machinery Rs. 6,000 Account receivable Rs.
The contract price was Rs 4, 00,000. Illustration : 6 Following are the balances extracted from the Trial Balance of Mr.Mohan as on 31st March, 2002. If an Account does not show any balance, it is ignored. ... (vii) Loan from the bank was taken on 1st October, 2017. Debit Balances Wages & Salaries Drawings Purchases Sale At the end of the year balance of purchases account will be transferred to the debit of trading account. On 31st March, 2017 the following Trial Balance was extracted from the books of Mohan: Prepare Trading and Profit & Loss Account for the year ended 31st March, 2017 and Balance Sheet as at that date after taking into account the following:-(a) Private purchases amounting to ₹ 4,000 have been debited to Purchases Account. It was later discovered that interest on capital @ 5% had been omitted.
The Purchase consideration was settled on 1-10-2004, being Rs. At the end of the year balance of sales account will be transferred to the credit of trading account. On 31st March, 2018 the following Trial Balance was extracted from the books of Mr Sohan:
` Furniture (debit balance) 20,000 ... balances of the ledger accounts are extracted and trial balance is prepared to test as to whether the total ... recorded in the subsidiary books.
Question 3: Prepare the Trial Balance of Ankit as on 31st March, 2018.
A post-closing trial balance as at 31 December 2017. On June 30, 2017, R died. The following are the balances extracted from the books of Shri Raghuram as on 31.03.2018, who carries on business under the name and style of M/s Raghuram and Associates at Chennai: Particulars Debit (`) Credit (`) Capital A/c 14,11,400 Purchases 12,00,000 Purchase Returns 18,000 Sales 15,00,000 1. 25,200 Bank overdraft. Debit balances TS Grewal Accountancy Class 11 Solutions Chapter 14 Adjustments in Preparation of Financial Statements. Following Trial Balance has been extracted from the books of M/s. Question 2. The following is the Trial balance extracted from the books of Mr. Mohan as on 31-12-2017.
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