From the following Trial Balance extracted from the books of Meenakumari Restaurant, prepare a Trading and Profit
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From the following Trial Balance extracted from the books of Meenakumari Restaurant, prepare a Trading and Profit and Loss Account for the year ended 30th September 2007 and a Balance Sheet as on that date.
1. Charge depreciation on land and Buildings at 2.5%, on Plant and Machinery at 10% and on Furniture at 10%.
2. Make a Provision of 5% on the Sundry Debtors for Bad Debts. Carry forward the following unexpired amounts:
(a) Fire Insurance 125
(b) Rates and Taxes 240
(c) Apprentice Premium 400
(d) Charge interest on capital at 5%
(e) The value of closing stock was valued at * 29,390.
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Related Book For
Financial Accounting For Hotels
ISBN: 9781259004940
1st Edition
Authors: Prasanna Kumar JP, Linda Nalini Danie, Mruthyunjaya V. Pagad
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