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From the following figures prepare the Trading and Profit and Loss Accountfor the year ended 31st march 2019 and the balance sheet as at that date:- |
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Answer» Answer: Some Working Notes:- Working NOTE:- Calculation of DEPRECIATION:- Depreciation on Furniture = 20,000 x 15% = Rs. 3,000 Depreciation on Motor Car = 1,50,000 x 20% = Rs. 30,000 Calculation of Provision for Doubtful Debts:- Provision Doubtful Debts = Sundry DEBTORS — Further Bad Debts x Rate Provision Doubtful Debts = 82,000 — 2,000 x 5% Provision Doubtful Debts = Rs. 4,000 |
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