InterviewSolution
Saved Bookmarks
| 1. |
Steps for solving problem: 1) Prepare the necessary accounts, including the working notes.2)Place some mark on Trial Balance items for external as well as internal adjustments.3) Go through Trial Balance items and give only one accounting effect sequentially.4) Go through Adjustments and give two accounting effects.5) Close Ledgers in the working notes, except capital.6) Find Gross Profit, Net Profit and transfer it to individual capital accounts.7) Find the closing balance in capital and transfer it to Balance Sheet.8) Tally the Balance Sheet. |
|
Answer» aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaAaaaaaaaaaaaaaaaaaAAaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa |
|