Anonymous Limited closes its books on 31st March every year. A newly appointed assistant drew up the
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Anonymous Limited closes its books on 31st March every year. A newly appointed assistant drew up the following Trial Balance as on 31.3.2017:
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Particulars Sh. Capital: (4 lac eq.sh. of 10 each) Purchases Stock as on 1st April 2016 Creditors Bad debts Fixed assets at cost: Land Fixed assets at cost: Furniture Accumulated depreciation: Buildings Postage and telegram Motor vehicle expenses Interest received Auditors' fees 13% Debentures Cash and Bank balances Motor vehicles Dr. 40,00,000 7,00,000 3,000 17,00,000 5,00,000 10,000 45,000 5,000 Cr. 40,00,000 Calls-in-arrears Sales Debtors 5,00,000 Provision for doubtful debts Particulars Bad debts recovered Fixed assets at cost: Buildings Fixed assets at cost: Motor vehicles 60,000 Accumulated depreciation: Furniture 50,000 Salaries 18,00,000 15,000 Directors' fees 1,75,700 The following information is available further: (a) The value of stock as on 31.3.2017 is * 10,00,000. (b) Printing and stationery Investments (at cost) Profit & Loss A/c (Cr. balance) TOTAL Dr. 12,000 14,50,000 25,00,000 3,10,000 3,50,000 15,000 5,00,000 14,500 Cr. 55,00,000 5,000 200 1,00,000 2,60,000 1,22,90,200 1,22,90,200 Anonymous Ltd. has appointed an agent during the year and goods were sent out at an invoice price of * 5,00,000 which was determined by adding 25% margin on cost. As on 31.3.2017, the entire stock was still
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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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