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Old MathJax webview

Old MathJax webview

Accounting

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Capital Stock (1-1-91) Furniture Sales Purchases returns Rent Salaries Bad debts Sundry debtors Bad debts reserve Establishment Patents Rs. 1.20,000 45,000 1,500 4.35,000 4.000 5.000 24,000 1.000 40,000 800 6,000 4,800 Drawings Plant & Machinery Purchases Insurance Sales Returns Trade expenses Wages Investments (1-4-91 Int. 6%) Sundry Creditors Cash Misc. receipts After making the following adjustments, prepare Trading and Profit and Income statement for the year ended 31st December 1991 and a balance shee 1. 2. 3. Stock on 31st December 1991 Rs. 75.000. Depreciate machinery by 10% & furniture by 20%. Wages Rs. 5,000 and salaries Rs. 1.200 are outstanding. Write off Rs. 500 as bad debts and create a reserve on ba. debts at 5% and reserve for discount on debtors at 2% Investment is made on 1.4.1991 and no interest has been 6. Capital Stock (1-1-91) Furniture Sales Purchases returns Rent Salaries Bad debts Sundry debtors Bad debts reserve Establishment Patents Rs. 1.20,000 45,000 1,500 4.35,000 4.000 5.000 24,000 1.000 40,000 800 6,000 4,800 Drawings Plant & Machinery Purchases Insurance Sales Returns Trade expenses Wages Investments (1-4-91 Int. 6%) Sundry Creditors Cash Misc. receipts Rs. 21,000 24,000 2,95,000 1,500 7.000 2.000 40,000 50,000 19,000 12,200 1:200 After making the following adjustments, prepare Trading and Profit and Loss account Income statement for the year ended 31st December 1991 and a balance sheet on that date. 1. 2. 3. 4. Stock on 31st December 1991 Rs. 75,000. Depreciate machinery by 10% & furniture by 20%. Wages Rs. 5,000 and salaries Rs. 1.200 are outstanding. Write off Rs. 500 as bad debts and create a reserve on bad and doubtful debts at 5% and reserve for discount on debtors at 2% Investment is made on 1.4.1991 and no interest has been received so far. 5