Draw-up pro-forma balance sheet in horizontal form as per the requirements of Schedule VI of the Companies
Question:
Draw-up pro-forma balance sheet in horizontal form as per the requirements of Schedule VI of the Companies Act 1956.
Schedule VI of the Companies Act 1956
Transcribed Image Text:
From the following trial balance of Prakash Machineries Limited and additional information, prepare final accounts of the company as per Schedule VI of the Companies Act. Amount Particulars Sales 1,50,000 General reserve 28,000 Provision for depreciation on Particulars Opening stock Raw materials Work-in-process Finished goods Purchases Salaries and wages Plant & machinery (at cost) Investment at cost (short-term) Sundry debtors Cash at bank Directors remuneration Interim dividend Office furniture (at cost) Rates and taxes Insurance Audit fee Sales return Excise duty on finished goods Rent Rent prepaid Bad debts Interest on debentures Freehold premises Other expenses Bills receivable 1,90,000 plant and machinery 15,50,000 Sundry creditors 2,30,000 Provision for depreciation on 12,10,000 furniture Purchases returns 3,29,000 1,58,000 (*100 each) 3,00,900 Equity share capital 10% Preference shares capital 80,000 (100 each) 1,20,000 9% Debentures 1,80,000 Debenture redemption 17,000 reserve 25,000 Bills payable 30,000 Securities premium 70,000 Income from investments 18,000 27,000 47,30,000 37,100 30,000 99,40,000 3,20,000 Excise duty payable 90,000 Profit and loss 20,000 Amount 747,50,000 25,000 1,40,000 1,35,000 30,000 25,000 30,00,000 5,00,000 6,00,000 3,00,000 90,000 2,80,000 30,000 15,000 20,000 99,40,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
Answered By
Felix Onchweri
I have enough knowledge to handle different assignments and projects in the computing world. Besides, I can handle essays in different fields such as business and history. I can also handle both short and long research issues as per the requirements of the client. I believe in early delivery of orders so that the client has enough time to go through the work before submitting it. Am indeed the best option that any client that can think about.
4.50+
5+ Reviews
19+ Question Solved
Related Book For
Management Accounting Text Problems And Cases
ISBN: 9781259026683
6th Edition
Authors: M Y Khan, P K Jain
Question Posted:
Students also viewed these Business questions
-
Chang Distributors, a wholesale company, is considering whether to open a new distribution center. The center would open January 1, 2016. To make the decision, the planning committee requires a...
-
Chang Distributors, a wholesale company, is considering whether to open a new distribution center. The center would open January 1, 2016. To make the decision, the planning committee requires a...
-
A 1.700 kg bead slides on a curved wire, starting from rest at point A in Figure P5.28. If the wire is frictionless, find each of the following. 5.00 m Figure P5.28 B 2.00 m (a) the speed of the bead...
-
Player A has a $1 bill and a $20 bill, and player B has a $5 bill and a $10 bill. Each player will select a bill from the other player without knowing what bill the other player selected. If the...
-
Irrespective of how capital assets are aquired, they are recorded differently in overnmental funds than in business. In a recent year, Ives Township acquired six police cars at total cost of...
-
Which of the following is a disadvantage of the corporate form of organization? a. Limited liability b. Continuous life c. Owner is separate from management d. Ability to raise capital
-
Two residents of California filed a lawsuit against Hertz Corporation on behalf of a group of people arguing that the companys labor practices were illegal. The corporation was labeling workers as...
-
Selected ledger accounts for Rolm Company are given below for the just completed year: Required: 1. What was the cost of raw materials put into production during the year? 2. How much of the...
-
Why would you perform a silent installation? What is the purpose of a password complexity policy? Oracle offers a free download of all editions of the Oracle Database. How does the company derive...
-
Explain the provisions relating to maintenance of books of account and presentation of financial statements of a company.
-
Name four contingent liabilities which may be shown as a footnote to balance sheet of a company.
-
One political party believes government spending is too high; another party thinks it is too low. Which party will argue for current-services budgeting as a practice for setting government budgets?...
-
Taxpayers contribute via revenues which help to finance the school via local, state, and federal funding True False
-
Can you please help me? Explain the difference between: Short-runandlong-runaggregate demand Short-runandlong-runaggregate supply Reviewthefollowingwebpageson WhiteNova-ThinkEconomics...
-
The use of analytical procedures Select answer from the options below is required during risk assessment. is prohibited during risk assessment. is optional during risk assessment. is most effective...
-
Rewrite this: Utilization of Resources: Organizations like the AICPA have developed resources for educating students the accounting profession from high school through college. These resources...
-
THIS RECORD IS USED IN THE HELTHCARE ORGANIZATION EACH TO DOCUMENT EACH DOCMENT OF MEDICATION THAT IS GIVEN TO THE PATUUET THEIR HOSPITLATION
-
Use the normal approximation for the sign test for the problem in Exercise 15-45. What is the P-value for this test?
-
When you weigh yourself on good old terra firma (solid ground), your weight is 142 lb. In an elevator your apparent weight is 121 lb. What are the direction and magnitude of the elevator's...
-
When a manager makes a decision about someones annual pay raise only after looking at his or her current salary, the risk is that the decision will be biased because of ____________. (a) a framing...
-
The ____________ decision model views managers as making optimizing decisions, whereas the ____________ decision model views them as making satisficing decisions. (a) behavioural, human relations (b)...
-
A common mistake made by managers in crisis situations is that they ____________. (a) try to get too much information before responding (b) rely too much on group decision-making (c) isolate...
-
Suppose you wished to analyze the impacts of an increase in the tax on gasoline in the U.S using a simple partial equilibrium model. According to the U.S. Department of Transportation, 159.2 million...
-
The Quick Buck Company is an all-equity firm that has been in existence for the past three years. Company management expects that the company will last for two more years and then be dissolved. The...
Study smarter with the SolutionInn App