160 Final Accounts 14) From the following trial balance of M/s XYZ and Sons prepare Trading...
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160 Final Accounts 14) From the following trial balance of M/s XYZ and Sons prepare Trading and Profit and Loss A/c for the year ending March 31, 2019 and a Balance Sheet on that date: Particulars Particulars Purchases Discount allowed Wages Salaries Travelling expenses Commission Carriage Inward Administrative expenses BBA First Semester (Business Accounting) SPPU Trade expenses Interest Building Furniture Debtors Cash Dr. (3) 21,750 Sales 1,300 Capital 6,500 Creditors 2,000 400 425 275 105 600 250 5,000 200 4.250 7,045 50,100 Adjustments: i) Stock on 31st March 2019 was 76,000. 05.1 Cr. (3) 35,000 13,000 2,100 50,100 ii) Depreciate building by 20%. iii) Create a provision for bad debts @ 10% on debtors. iv) Outstanding wages amount to ₹475. [Ans: Gross Profit 12,000; Net Profit *5,495; and Total of Balance Sheet 21,070] 160 Final Accounts 14) From the following trial balance of M/s XYZ and Sons prepare Trading and Profit and Loss A/c for the year ending March 31, 2019 and a Balance Sheet on that date: Particulars Particulars Purchases Discount allowed Wages Salaries Travelling expenses Commission Carriage Inward Administrative expenses BBA First Semester (Business Accounting) SPPU Trade expenses Interest Building Furniture Debtors Cash Dr. (3) 21,750 Sales 1,300 Capital 6,500 Creditors 2,000 400 425 275 105 600 250 5,000 200 4.250 7,045 50,100 Adjustments: i) Stock on 31st March 2019 was 76,000. 05.1 Cr. (3) 35,000 13,000 2,100 50,100 ii) Depreciate building by 20%. iii) Create a provision for bad debts @ 10% on debtors. iv) Outstanding wages amount to ₹475. [Ans: Gross Profit 12,000; Net Profit *5,495; and Total of Balance Sheet 21,070]
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MS XYZ Trading Profit Loss Ac For the year ending March 31 2019 Sales 35000 Cost of sales Pur... View the full answer
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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