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Question
Mama and Kaka are partners in partnership firm sharing profits and losses equally. You are required to prepare Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as on that date:
| Trial Balance as on 31st March, 2019 | |||
| Debit Balances | Amount (₹) | Cebit Balances | Amount (₹) |
| Insurance | 30,000 | Capital Accounts: | |
| Land and Building ((Addition of ₹ 40,000 wef. 1st July, 2018)) | 1,00,000 | Mama | 1,00,000 |
| Salaries | 10,000 | Kaka | 1,00,000 |
| Export duty | 5,000 | 10% Bank Loan (taken on1st Oct. 2018) | 60,000 |
| Interest | 2,000 | Interest | 3,000 |
| Furniture | 80,000 | Bills payable | 16,000 |
| Debtors | 52,000 | - | |
| 2,79,000 | 2,79,000 | ||
Adjustment:
- Gross profit amounted to ₹ 69,000.
- Prepaid insurance ₹ 7,500.
- Depreciate Land and Building at 10% p.a. and Furniture 5% p.a.
- Write ₹ 2,000 for bad debts and maintain R.D.D. at 5% on sundry debtors.
- Closing stock is valued at ₹ 69,000.
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Solution
| In the books of Mama and Kaka | |||||
| Dr. | Profit and Loss Account for the year ended on 31st March 2019 | Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Insurance | 30,000 | 22,500 | By Gross Profit b/d | 69,000 | |
| (-) prepaid | 7,500 | By Interest received | 3,000 | ||
| To Depreciation on | 13,000 | ||||
| Land and Building | 9,000 | ||||
| Furniture | 4,000 | ||||
| To Bad debts (new) | 2,000 | 4500 | |||
| (+) R.D.D (New) | 2,500 | ||||
| To salaries | 10,000 | ||||
| To export duty | 5,000 | ||||
| To interest on bank loan | 3,000 | ||||
| To interest | 2,000 | ||||
| To Partners' Capital A/c: (New Profit) | |||||
| Mama | 6,000 | 12,000 | |||
| Kaka | 6,000 | ||||
| 72,000 | 72,000 | ||||
| Balance Sheet as on 31st March, 2019 | |||||
| Assets | Amount (₹) | Amount (₹) | Liabilities | Amount (₹) | Amount (₹) |
| Capital Accounts: | Land And Building | 1,00,000 | 91,000 | ||
| Mama | 1,00,000 | 1,06,000 | (-) Depreciation 10% | 9,000 | |
| (+) Net Profit | 6000 | Furniture | 80,000 | 76,000 | |
| Kaka | 1,00,000 | 1,06,000 | (-) Depreciation 5% | 4,000 | |
| (+) Net Profit | 6,000 | Debtors | 52,000 | ||
| 10% Bank loan | 60,000 | 63,000 | (-) Bad debts | 2,000 | |
| (+) Interest due but not paid | 3,000 | 50,000 | |||
| Bills Payable | 16,000 | (-) R.D.D. | 2,500 | 47,500 | |
| Prepaid Insurance | 7,500 | ||||
| Closing Stock | 69,000 | ||||
| 2,91,000 | 2,91,000 | ||||
APPEARS IN
RELATED QUESTIONS
Select the most appropriate alternative from those given below and rewrite the statement.
Return outward are deducted from __________________.
From the following Trading 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
Trial Balance as on 31st March , 2009
| Particulars | Debit Amount Rs. | Credit Amount Rs. |
|
Capital A/c's Ajay Vijay |
60000 35000 |
|
| Purchases and Sales | 46,700 | 85,000 |
| Sundry Debtors and Creditors | 28000 | 25000 |
| Bills Receivable and payable | 5000 | 6000 |
| Commission | 4600 | 1800 |
| Opening stock | 18000 | |
| Wages | 9900 | |
| Investment | 13500 | |
| Postage and Telegrams | 3600 | |
| Insurance | 1200 | |
| Plant and Machinery | 40700 | |
| Furniture | 18000 | |
| Cash in hand | 2500 | |
| Carriage | 3200 | |
| Bad debts | 400 | |
| Prepaid Rent | 7000 | |
| Salaries | 10500 |
Adjustments:
1) The closing stock is valued at Rs 31,000.
2) Outstanding expenses were wages Rs. 1,400, salaries Rs 800.
3) Depreciate Plant and Machinery by 10%.
4) Insurance at Rs 500 is paid in advance.
5) Provide for further bad debts of Rs 1,500.
6) Commission due but not received Rs 1,200.
Madhuri and Minakshi are in partnership sharing profits and losses in the ratio 3:2. 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, 2012 and Balance Sheet on that date.
|
Trial Balance as on 31st March, 2012
|
|||
| Debit Balance |
Amount
(₹)
|
Credit Balance |
Amount
(₹)
|
| Building | 4,00,000 | Capital A/cs - | |
| Plant and Machinery | 1,20,000 |
Madhuri |
3,00,000 |
| Purchases | 6,50,000 | Minakshi | 2,00,000 |
| Carriage | 7,000 | Sales | 8,10,000 |
| Opening stock | 90,000 | Sundry Creditors | 1,00,000 |
| Wages | 35,000 | Outstanding salaries | 4,200 |
| Sundry Debtors | 1,50,000 | 8% Bank loan (Taken on 1.10.2011) |
1,00,000 |
| Salaries | 28,000 | ||
| Postage and Telegram | 4,000 | ||
| Insurance | 5,000 | ||
| Bad debts | 3,000 | ||
| Rent | 4,000 | ||
| Discount | 3,200 | ||
| Drawing A/c- | |||
| Madhuri | 10,000 | ||
| Minakshi | 5,000 | ||
| 15,14,200 | 15,14,200 | ||
Adjustments:
- Stock on hand on 31st March, 2010 was valued at Rs 1,10,000.
- Depreciate Plant and Machinery at 10% p.a. and Building at 5% p.a.
- Prepaid Insurance Rs 1,500.
- Create R.D.D at 5% on Sundry Debtors.
- Partners are allowed interest at 5% p.a. on their capitals.
- Salaries include Rs 2,500 as advance to workers.
Following is the Balance sheet of Harsha and Versha’s firm on 31st March, 2016. They share profit and losses in the ratio of 3 : 2.
| Balance sheet as on 31st March, 2016 | |||
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Capital A/c: | Land & building | 2,00,000 | |
| Harsha | 2,80,000 | Furniture | 76,000 |
| Varsha | 2,80,000 | Sundry debtors | 3,00,000 |
| Sundry creditors | 4,00,000 | Stock | 1,60,000 |
| Cash at bank | 2,24,000 | ||
| 9,60,000 | 9,60,000 | ||
They decided to admit Asha on 1st April, 2016, into partnership on the following terms:
- Asha should bring Rs. 80,000 as her share of goodwill, which is to be retained in the business.
- She should bring Rs. 1,00,000 as her capital for 1/4th share in future profits.
- land and building to be valued at Rs. 2,40,000 and furniture be reduced by 10%.
- A provision of 5% on debtors to be made for doubtful debts.
- The stock is to be taken at a value of Rs. 2,00,000.
- The excess of capital of Harsha and Varsha over their due proportion of sharing profits in the firm is to be transferred to their respective loan accounts.
Prepare:
Profit and Loss Adjustment Account, Partner’s Capital Account and new Balance Sheet of the firm.
Ashok and Sangmesh are in partnership sharing profit and losses in the ratio of 2 : 1. From the following trial balance and adjustments given below, you are required to prepare Trading and Profit and Loss Account for the year ended on 31st March 2016 and Balance sheet as on that date:
| Trial Balance as on 31st March 2016 | ||
| Particulars | Debit Amount (₹) |
Credit Amount (₹) |
| Prepaid insurance | 3,200 | |
| Insurance | 8,000 | |
| R.D.D. | 4,000 | |
| Discount | 3,200 | |
| Postage and telephone | 12,800 | |
| Debtors and creditors | 2,64,000 | 2,72,000 |
| Salaries | 2,24,000 | |
| Wages | 96,000 | |
| Opening stock | 1,92,000 | |
| Carriage | 4,000 | |
| Purchased and sales | 7,72,800 | 12,06,400 |
| Return inward/Outward | 22,400 | 36,800 |
| Bank Overdraft | 4,83,200 | |
| Plant and Machinery | 96,000 | |
| Land and Building | 7,04,000 | |
| Partner's Capital accounts: | ||
| Ashok | 2,08,000 | |
| Sangmesh | 1,92,000 | |
| 24,02,400 | 24,02,400 | |
Adjustment:
- Write off Rs. 8,000 for bad debts and provide R.D.D. @ 5% on debtors.
- Goods worth Rs. 16,000 were distributed as free samples.
- Closing stock on 31st March 2016 was valued at the cost of Rs. 2,24,000 while its market price was Rs. 2,40,000.
- The salaries were outstanding at Rs. 8,000.
- Depreciation: Land and Building @ 5% p.a. and Plant and Machinery @ 10 % p.a.
Darshan and Amar were partners sharing profit and losses in the proportion of 2: 1. Their balance sheet is as follows:
Balance sheet as on 31st March 2016
| Liabilities | Amt(Rs) | Amt(Rs) | Assets | Amt(Rs) | Amt(Rs) |
| Capital A/cs: | Building | 1,00,000 | |||
| Darshan | 96,000 | Furniture | 20,000 | ||
| Amar | 64,000 | 1,60,000 | Equipments | 10,000 | |
| General reserve | 18,000 | Debtors | 63,000 | ||
| Profit and Loss A/c | 6,000 | Less: R.D.D | 3,000 | 60,000 | |
| Creditors | 80,000 | Stock | 84,000 | ||
| Pawans loan A/c | 26,000 | Cash | 16,000 | ||
| 2,90,000 | 2,90,000 |
On 1st April, 2016 Ranjit is admitted in the partnership on the following terms.
(1) Ranjit should bring in cash Rs 48,000 as capital for 1/5th share in future profits.
(2) Goodwill was raised in the books of the firm for Rs 18,000
(3) Building is revalued st RS 1,12,000 and tghe value of stock to be reduced by Rs 6,000
(4) Reserve for doubtful debts be maintained at Rs 1,800.
(5) Pawans loand is to be repaid.
Prepare:
(1) Revaluation A/c
(2) Capital A/cs of partners and
(3) Balance sheet of the new firm
To find out Net Profit or Net Loss of the business __________ account is prepared.
Write the word/phrase/term, which can substitute the following sentence.
The account to which all adjustments are made when capital is fixed.
Write the word/phrase/term, which can substitute the following sentence.
Expenses which are paid before they are due.
State whether the following statement is True or False with reasons.
Balance Sheet is an Account.
State whether the following statement is True or False with reasons.
Wages paid for the installation of Machinery is a Revenue expenditure.
State whether the following statement is True or False with reasons.
Income received in advance is a liability.
State whether the following statement is True or False with reasons.
Indirect expenses are debited to Trading Account.
Find odd one.
Find odd one.
Find odd one.
Partners are _____ liable for the debts of the firm.
The withdrawal by partner for personal use from the firm is ________ to his account.
If partners Current Account shows ______ balance it is shown to the liability side of Balance sheet
Assets which are held in the business for a long period are called ______.
Answer in one sentence only.
What do you mean by pre-received income?
Answer in one sentence only.
What is the effect of the adjustment of provision for discount on debtors in the final accounts of partnership?
Answer in one sentence only.
Why is Balance Sheet prepared?
Current account always shows a debit balance.
Do you agree/disagree with the following statement:
Amount borrowed by partner from his business will be debited to Current Account.
Do you agree/disagree with the following statement:
Sold but undispatched goods must be part of valuation of closing stock.
Do you agree/disagree with the following statement:
Carriage Inward is a selling and distribution overhead.
Amit bhai and Narendra bhai 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.
Trial Balance as on 31st March 2019
| Debit Balance | Amount ₹ | Credit Balance | Amount ₹ |
| Plant & Machinery | 2,80,000 | Capital A/c: | |
| Factory Building | 75,000 | Amitbhai | 3,50,000 |
| Sundry Debtors | 28,700 | Narendrabhai | 3,00,000 |
| Purchases | 85,500 | Sales | 1,80,000 |
| Bad Debts | 500 | Bills Payable | 8,500 |
| Sales Return | 2,200 | Discount | 1,200 |
|
10% Govt. Bond |
40,000 | Creditors | 38,500 |
| Import Duty | 1,800 | R.D.D. | 2,700 |
| Legal Charges | 2,000 | Bank Loan | 15,000 |
| Motive Power | 12,000 | Purchases Return | 2,000 |
| Warehouse Rent | 1,800 | ||
| Cash in Hand | 20,000 | ||
| Cash at Bank | 70,000 | ||
| Advertisement (for 2 years, w.e.f 1st Jan 2019) |
10,000 | ||
| Salaries | 3,800 | ||
| Rent | 1,500 | ||
| Drawings : | |||
| Amitbhai | 2,400 | ||
| Narendrabhai | 3,200 | ||
| Furniture | 1,95,800 | ||
| Bills Receivable | 20,700 | ||
| Freehold Property | 41,000 | ||
| 8,97,900 | 8,97,900 |
Adjustments:
1) Stock on hand on 31st March 2019 was valued at ₹ 43,000.
2) Uninsured goods worth ₹ 8,000 were stolen.
3) Create R.D.D at 2% on Sundry debtors.
4) Mr. Patil, our customer becomes insolvent and could not pay his debts of ₹ 500.
5) Outstanding Expenses - Rent ₹ 800 and Salaries ₹ 300
6) Depreciate Factory Building by ₹ 2,500 and Furniture by ₹ 1,800
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.
Trial Balance as on 31st March 2019
| Debit Balance | Amount ₹ | Credit Balance | Amount ₹ |
| Purchases | 35,500 | Sales | 58,200 |
| Sundry Debtors | 40,000 | Sundry Creditors | 25,700 |
| Sales Returns | 1,000 | Purchases Returns | 500 |
| Opening Stock | 18,100 | R.D.D | 800 |
| Bad debts | 500 | Discount | 50 |
| Land and Building | 25,000 | Commission | 250 |
| Furniture | 20,000 | Capital: | |
| Discount | 1,000 | Reena | 50,000 |
| Royalties | 700 | Aarti | 30,000 |
| Rent | 1,900 | ||
| Salaries | 3,000 | ||
| Wages | 800 | ||
| Insurance | 1,500 | ||
| Drawings: | |||
| Reena | 2,000 | ||
| Aarti | 1,000 | ||
| Cash at Bank | 11,500 | ||
| Cash in Hand | 2,000 | ||
| 1,65,500 | 1,65,500 |
Adjustments :
- Closing Stock valued at ₹ 22,000.
- Write off ₹ 900 for Bad and doubtful debts and create a provision for Reserve for doubtful debts ₹ 1,000.
- Create a provision for Discount on Debtors @ 3% and creditors @ 5%.
- Outstanding Expenses - Wages ₹ 700 and Salaries ₹ 800.
- Insurance is paid for 15 months, w.e.f. 1st April 2018
- Depreciate Land and Building @ 5%
- Reena & Aarti are Sharing Profits & Losses in their Capital Ratio.
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.
Trial Balance as on 31st March 2019
|
Debit Balance |
Amount ₹ |
Credit Balance |
Amount ₹ |
|
Stock (1/4/2018) |
25,000 |
Bank overdraft |
5,000 |
|
Debtors |
80,500 |
Bills Payable |
12,500 |
|
Bills Receivable |
10,000 |
Creditors |
68,000 |
|
Purchases |
2,08,500 |
Sales |
3,25,000 |
|
Returns |
1,000 |
Outstanding Rent |
2,000 |
|
Carriage Inward |
3,000 |
Unpaid Wages |
1,500 |
|
Carriage Outwards |
4,500 |
Capital : |
|
|
Motor Vehicle |
55,000 |
Meera |
75,000 |
|
General Expenses |
1,800 |
Madhav |
75,000 |
|
Export Duty |
900 |
Purchase Return |
1000 |
|
Advertisement |
4,800 |
||
|
(For 3 years from 1/10/2018) |
|||
|
Printing & Stationery |
1,200 |
||
|
Drawings : |
|||
|
Meera |
3,500 |
||
|
Madhav |
2,000 |
||
|
Leasehold Premises |
1,10,000 |
||
|
Cash at Bank |
45,000 |
||
|
Furniture |
8,300 |
||
|
5,65,000 |
5,65,000 |
Adjustments :
1) Closing Stock is valued at ₹32,000.
2) Provide Provision for Doubtful Debts ₹ 2,000.
3) Create reserve for Discount on Debtors @ 3%.
4) Valued of Leasehold Premises on 31st March 2019 ₹1,00,000.
5) Outstanding Expenses Printing & Stationary ₹500.
Nana and Nani are Partners in Partnership Firm sharing Profits and Losses equally. You are required to give effects of Adjustments in Profit & Loss A/c and Balance Sheet with the help of the following information.
Trial Balance as on 31st March 2019
| Debit Balance | Amount ₹ | Credit Balance | Amount ₹ |
| Insurance | 15,000 | Capital A/c | |
| Land and building | 50,000 | Nana | 50,000 |
| (Addition of 20,000 w.e.f 1st July 2018) | Nani | 50,000 | |
| Salaries | 5,000 | 10% Bank loan taken on 1st Oct. 2018 | 30,000 |
| Export Duty | 2,500 | Interest | 1,500 |
| Interest | 1,000 | Bills Payable | 8,000 |
| Furniture | 40,000 | ||
| Debtors | 26,000 | ||
| 1,39,500 | 1,39,500 |
Adjustments :
1) Gross profit amounted to ₹ 34,500.
2) Insurance Paid for 15 months w.e.f. 1. 4. 2018.
3) Depreciate Land and Building at 10% p.a. and Furniture at 5% p.a.
4) Write off ₹ 1,000 for Bad Debts and maintain R.D.D at 5% on Sundry Debtors.
5) Closing Stock is valued at ₹ 34,500.
Kshipra and Manisha are Partners sharing Profit and Loss in their Capital Ratio. You are required to prepare Trading Account and Profit and Loss Account for the year ended 31st March 2019 and Balance Sheet as on that date.
| Trial Balance as on 31st March 2019 | |||
|
Debit Balance |
Amount (₹) |
Credit Balance |
Amount (₹) |
|
Sundry Debtors |
28,000 |
Sales |
1,20,000 |
|
Purchases |
55,000 |
Rent |
1,800 |
|
Furniture |
38,500 |
Sundry Creditors |
38,500 |
|
Plant & Machinery |
60,000 |
Purchase Return |
1,000 |
|
Wages |
800 |
Discount |
500 |
|
Salaries |
3,500 |
Bills Payable |
9,000 |
|
Discount |
800 |
Capital A/c: |
|
|
Bills Receivable |
14,400 |
Kshipra |
90,000 |
|
Carriage Outward |
1,000 |
Manisha |
30,000 |
|
Postage |
500 |
Current A/c: |
|
|
Sales Return |
500 |
Kshipra |
5,000 |
|
Cash in Hand |
4,000 |
Manisha |
3,000 |
|
Cash at Bank |
47,000 |
||
|
Insurance |
2,000 |
||
|
Opening Stock |
17,800 |
||
|
Trade Expenses |
1,500 |
||
|
Warehouse Rent |
2,500 |
||
|
Advertisement |
1,000 |
||
|
Building |
20,000 |
||
|
2,98,800 |
2,98,800 |
||
Adjustments:
- Stock on 31st March 2019 was at ₹37,000.
- Sales include the sale of machinery of ₹ 2,000, which is sold on 1st April 2018.
- Depreciation on fixed assets @ 5%.
- Each Partners is entitled to get Commission at 1% of Gross Profit and Interest on Capital 5% p.a.
- Outstanding Expenses Wages ₹ 200 & Salaries ₹ 500.
- Create provision for doubtful debts @ 3% on Sundry Debtors.
Returns outward are deducted from ______.
Asha and Nisha are partners sharing profits and losses in equal ratio. From the following Trial Balance and adjustments you are required to prepare Final Accounts:
| Trial Balance as on 31st March, 2019 | |||
| Debit Balance | Amount (₹) | Credit Balance | Amount (₹) |
| Purchases | 48,000 | Capital accounts: | |
| Salaries | 7,500 | Asha | 80,000 |
| Wages | 2,800 | Nisha | 40,000 |
| Advertisement (2 years) | 4,000 | Bank Overdraft | 34,000 |
| Sales Return | 8,000 | Sales | 1,48,000 |
| Motor Van | 63,000 | R.D.D. | 1,200 |
| Stock (1. 4. 2018) | 94,500 | Purchase Return | 6,000 |
| Sundry Debtors | 62,800 | ||
| Coal, Gas and Fuel | 1,000 | ||
| Plant and Machinery | 17,600 | ||
| 3,09,200 | 3,09,200 | ||
Adjustments:
- Closing stock is valued at cost ₹ 88,000 and market price ₹ 90,000.
- Asha and Nisha withdrew goods from business ₹ 3,000 and ₹ 2,000 respectively for their personal use.
- Depreciate Motor Van by 5% and Plant and Machinery by 7%.
- Reserve for Doubtful debts on Debtors at 5% is to be created.
- Outstanding Wages ₹ 800.
From the following Trial Balance of Riddhi and Siddhi, you are required to prepare Trading and Profit & Loss Account for the year ended 31st March, 2020 and Balance Sheet as on that date after considering the additional information given below.
| Trial Balance as on 31st March, 2020 | ||
| Debit Balance | Debit (₹) | Credit (₹) |
| Stock (1/4/2018) | 48,000 | |
| Capital - Riddhi | 50,000 | |
| Siddhi | 30,000 | |
| Purchases | 22,500 | |
| Wages | 800 | |
| Carriage Inward | 1,000 | |
| Sundry Creditors | 27,600 | |
| Bills Payable | 20,000 | |
| Cash in hand | 2,850 | |
| Insurance | 1,200 | |
| Sundry Debtors | 32,000 | |
| Bank Overdraft | 18,000 | |
| Carriage outward | 900 | |
| Land and Building | 42,500 | |
| Furniture | 38,700 | |
| Sales | 47,000 | |
| Purchase Return | 500 | |
| Sales Return | 400 | |
| Rent | 1,800 | |
| Bad-debts | 300 | |
| R.D.D | 350 | |
| Discount | 700 | 1,000 |
| Travelling Expenses | 250 | |
| Advertisements | 4,150 | |
| 1,96,250 | 1,96,250 | |
Adjustments:
- Closing stock ₹ 48,700.
- Outstanding Expenses - Wages ₹ 700 and Travelling Expenses ₹ 200.
- Depreciate Land and Building by 10% and Furniture by 5%.
- Insurance Paid in Advance ₹ 300.
- Goods of ₹ 3,000 destroyed by fire and Insurance Company rejected the claim fully.
A ______ is an Intangible Asset.
A ______ is an Intangible Asset.
Find odd one.
Find odd one
Complete the following Table:
| Creditors | Bills Payable | Third-Party Liabilities |
| 16,000 | 12,000 | ? |
Find odd one.
Asha and Nirasha are partners sharing profits and losses in the ratio of 1 : 1. From the following Trial Balance and additional information, prepare Trading and Profit and Loss account for the year ended 31st March, 2023 and Balance Sheet as on that date.
| Trial Balance as on 31st March, 2023 | |||
| Debit Balance | Amount (₹) | Credit Balance | Amount (₹) |
| Stock (1/4/2022) | 1,30,000 | General Reserve | 29,000 |
| Bills Receivable | 56,000 | Capital: | |
| Wages and Salaries | 18,000 | Asha | 3,20,000 |
| Sundry Debtors | 2,65,000 | Nirasha | 2,40,000 |
| Bad Debts | 2,000 | Creditors | 1,96,000 |
| Purchases | 2,96,000 | R.D.D. | 3,600 |
| Motor Car | 1,36,000 | Sales | 5,71,000 |
| Machinery | 2,29,600 | Outstanding Wages | 1,400 |
| Audit Fees | 2,400 | Purchases Returns | 8,000 |
| Sales Return | 4,000 | Discount | 3,600 |
| Discount | 4,600 | ||
| Building | 1,50,000 | ||
| Cash at Bank | 24,000 | ||
| 10% Investment | 40,000 | ||
| Advertisement (Paid for 9 months) | 9,000 | ||
| Royalties | 6,000 | ||
| 13,72,600 | 13,72,60 | ||
Adjustment and Additional Information:
(1) Closing Stock ₹ 80,000.
(2) Depreciation Building and Machinery @ 5% and 3% respectively.
(3) Bills Receivable included dishonoured bill of ₹ 6,000.
(4) Goods worth ₹ 2,000 taken by Asha for personal use was not entered in the books of accounts.
(5) Write off ₹ 3,600 as Bad debts and maintain R.D.D. at 5% on Sundry Debtors.
(6) Goods of ₹ 12,000 were sold but no entry was made in the books of accounts.
Find the odd one:
Find an odd one.
Find an odd one.
Find odd one.
Find odd one.
Find the odd one.
