8 mark

16. 8,000 (a) Draw the brancles of accounting and explain the functions of financial accounting. Or (b) Consider the following balances extracted from the books of Jain as on 31st December, 2019. Prepare the final accounts. Particulars Rs. Particulars Rs. Capital 20,000 | Office salaries 6,600 Debtors Establishment 4,500 expenses Creditors 10,500 Selling 2.300 expenses Purchases 60,000 Furniture 10,000 Sales 80.000 Cash at bank 2.400 Income tax 500 Miscellaneous 600 of Mr Jain receipts paid Opening 12,000 Drawings 4,800 stock Adjustments: (1) Salaries outstanding for December, 2019 amounted to Rs.600 (11) Provide depreciation on furniture @ 10% p.a. Page 7 (1) Provide interest on capital for the year 5% p.a. (iv) Stock on 31st December, 2019 Rs.14,000