1.

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.

Answer» 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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