19.Ganga's trial balance was as follows. Debit Balances Opening Stock Purchases and Sales Sales return Carriage...
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19.Ganga's trial balance was as follows. Debit Balances Opening Stock Purchases and Sales Sales return Carriage Power and fuel Wages Trade expenses Debtors and Creditors Salaries Insurance Postage Commission Machinery Furniture Trial Balance for the year ended 31st March, 2017 Amt Advertisement Buildings Drawings: Capital: 12% Bank Loan (On 1.10.2006) Cash in hand Adjustments : 80,000 4,00,000 30,000 7,500 40,000 35,000 8,000 80,000 72,000 6,000 3,000 8,000 2,00,000 80,000 15,000 4,00,000 18,000 Amt 7,68,000 60,000 12,000 5,00,000 1,50,000 7,500 14,90,000 14,90,000 1) Closing stock-Cost price 1,00,000 and Market price 1,20,000 2) Depreciate Machinery and Building by 20% and 10% respectively. 3) Insurance paid for one year ending 30.6.2007 4) Goods withdrawn for her personal use 10,000 but not recorded. 5) Write off *10,000 as bad debts and provide reserve for doubtful debts @5% on debtors. Prepare Trading and Profit and Loss account for the year ended 31st March, 2017 and Balance Sheet on that date. 19.Ganga's trial balance was as follows. Debit Balances Opening Stock Purchases and Sales Sales return Carriage Power and fuel Wages Trade expenses Debtors and Creditors Salaries Insurance Postage Commission Machinery Furniture Trial Balance for the year ended 31st March, 2017 Amt Advertisement Buildings Drawings: Capital: 12% Bank Loan (On 1.10.2006) Cash in hand Adjustments : 80,000 4,00,000 30,000 7,500 40,000 35,000 8,000 80,000 72,000 6,000 3,000 8,000 2,00,000 80,000 15,000 4,00,000 18,000 Amt 7,68,000 60,000 12,000 5,00,000 1,50,000 7,500 14,90,000 14,90,000 1) Closing stock-Cost price 1,00,000 and Market price 1,20,000 2) Depreciate Machinery and Building by 20% and 10% respectively. 3) Insurance paid for one year ending 30.6.2007 4) Goods withdrawn for her personal use 10,000 but not recorded. 5) Write off *10,000 as bad debts and provide reserve for doubtful debts @5% on debtors. Prepare Trading and Profit and Loss account for the year ended 31st March, 2017 and Balance Sheet on that date.
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pastulars To Opening stocle To purchases carriage coages 300 To Gross prof... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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