InterviewSolution
Saved Bookmarks
| 1. |
Following Trial Balance has been extracted from the books of Prasad on 31st March, 2019: ParticularsDr. (₹)ParticularsCr. (₹)Machinery4,00,000Capital9,00,000Cash at Bank1,00,000Sales16,00,000Cash in Hand50,000Sundry Creditors4,50,000Wages1,00,000Interest Received30,000Purchases8,00,000 Stock on 1st April, 20186,00,000 Sundry Debtors4,40,000 Bills Receivable2,90,000 Rent45,000 Commission25,000 General Expenses80,000 Salaries50,000 29,80,000 29,80,000 Additional Information:(i) Outstanding salaries were ₹ 45,000.(ii) Depreciate Machinery at 10%.(iii) Wages outstanding were ₹ 5,000.(iv) Rent prepaid ₹ 10,000.(v) Provide for interest on capital 5% per annum.(vi) Stock on 31st March, 2019 ₹ 8,00,000.Prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as at that date. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Answer» Following Trial Balance has been extracted from the books of Prasad on 31st March, 2019:
Additional Information: (i) Outstanding salaries were ₹ 45,000. (ii) Depreciate Machinery at 10%. (iii) Wages outstanding were ₹ 5,000. (iv) Rent prepaid ₹ 10,000. (v) Provide for interest on capital 5% per annum. (vi) Stock on 31st March, 2019 ₹ 8,00,000. Prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as at that date. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||