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(111) DEBITS BALANCES Dec. 31, 2011 Cash 131,000 Account Receivable 42,000 Inventories 30,000 Machinery 65,000 Land 65,000 Patents 17,000 Total 3,50,000 Dec. 31. 2012 115,000
(111) DEBITS BALANCES Dec. 31, 2011 Cash 131,000 Account Receivable 42,000 Inventories 30,000 Machinery 65,000 Land 65,000 Patents 17,000 Total 3,50,000 Dec. 31. 2012 115,000 25,000 38,000 93,000 55,000 20,000 3,46,000 CREDITS BALANCES Dec. 31, 2011 Dec. 31, 2012 Account Payable 24,000 30,000 Accrued expense 32,000 24,000 Bond payable 120,000 40,000 Ordinary Share Capital 100,000 180,000 Share Premium 25,000 28,000 Retained Earnings 39,000 29,000 Allowance of depreciation (M) 10,000 15,000 Total 3,50,000 3,46,000 The Corporation declared a cash dividend of Rs.15,000 and stock dividend of Rs. 25,000 during 2012. Machinery sold for Rs.17,000 costing Rs.18,000 and at time of sale its books value was Rs.16,500. (111) DEBITS BALANCES Dec. 31, 2011 Cash 131,000 Account Receivable 42,000 Inventories 30,000 Machinery 65,000 Land 65,000 Patents 17,000 Total 3,50,000 Dec. 31. 2012 115,000 25,000 38,000 93,000 55,000 20,000 3,46,000 CREDITS BALANCES Dec. 31, 2011 Dec. 31, 2012 Account Payable 24,000 30,000 Accrued expense 32,000 24,000 Bond payable 120,000 40,000 Ordinary Share Capital 100,000 180,000 Share Premium 25,000 28,000 Retained Earnings 39,000 29,000 Allowance of depreciation (M) 10,000 15,000 Total 3,50,000 3,46,000 The Corporation declared a cash dividend of Rs.15,000 and stock dividend of Rs. 25,000 during 2012. Machinery sold for Rs.17,000 costing Rs.18,000 and at time of sale its books value was Rs.16,500
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