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Following are the balances extracted from the books of Manish on 31st March, 2019: ₹ ₹ Capital 1,90,000 Cash at Bank 26,000 Drawing 7,000 Salaries 8,000 Plant and Machinery 1,20,000 Repairs 1,900 Delivery Vehicle 26,000 Stock on 1st April, 2018 16,000 Sundry Debtors 36,000 Rent 4,500 Sundry Creditors 26,000 Manufacturing Expenses 1,500 Purchases 20,000 Bills Payable 23,500 Sales 42,000 Bad Debts 5,000 Wages 8,000 Carriage 1,600 Prepare Trading and Profit and Loss Account and Balance Sheet as at 31st March, 2019 after following adjustments are made:(i) Closing Stock was ₹ 16,000.(ii) Depreciate Plant and Machinery 10% and Delivery Vehicle 15%.(iii) Unpaid Rent amounted to ₹ 500. |
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Answer» Following are the balances extracted from the books of Manish on 31st March, 2019:
Prepare Trading and Profit and Loss Account and Balance Sheet as at 31st March, 2019 after following adjustments are made: (i) Closing Stock was ₹ 16,000. (ii) Depreciate Plant and Machinery 10% and Delivery Vehicle 15%. (iii) Unpaid Rent amounted to ₹ 500. |
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