Prepare a vertical balance sheet from the following information: Liabilities Share capital Rs. 1,50,000 Goodwill (10...

Transcribed Image Text:

Prepare a vertical balance sheet from the following information: Liabilities Share capital Rs. 1,50,000 Goodwill (10 Marks) Assets Rs. 20,000 Share Premium Account 5,000 Land and Building 80,000 General Reserve 60,000 Plant (at cost less dep.) 44,000 Profit and Loss account 17,000 Furniture (at cost less dep.) 3,000 6% Debenture Bank Loan (Long Term) Bank Overdraft Sundry Creditors Provision for Taxation 50,000 Investment (Trade) 80,000 35,000 Debtors 70,000 20,000 Stock 60,000 60,000 Cash at Bank 40,000 10,000 Prepaid expenses 5,000 Preliminary expenses 5,000 Total Rs. 4,07,000 Total Rs. 4,07,000 Prepare a vertical balance sheet from the following information: Liabilities Share capital Rs. 1,50,000 Goodwill (10 Marks) Assets Rs. 20,000 Share Premium Account 5,000 Land and Building 80,000 General Reserve 60,000 Plant (at cost less dep.) 44,000 Profit and Loss account 17,000 Furniture (at cost less dep.) 3,000 6% Debenture Bank Loan (Long Term) Bank Overdraft Sundry Creditors Provision for Taxation 50,000 Investment (Trade) 80,000 35,000 Debtors 70,000 20,000 Stock 60,000 60,000 Cash at Bank 40,000 10,000 Prepaid expenses 5,000 Preliminary expenses 5,000 Total Rs. 4,07,000 Total Rs. 4,07,000

Answer rating: 100% (QA)

Answer ARMANI COMPANY Statement of Owners Equity For Cu... View the full answer