Answered step by step
Verified Expert Solution
Question
1 Approved Answer
b35 Cr. Amount 22,000 1,25,000 15,000 Illustration 6: Trial Balance of M/s Pandit Bross as on March 31, 2017 Trial Balance Dr. Particulars Amount Particulars
b35 Cr. Amount 22,000 1,25,000 15,000 Illustration 6: Trial Balance of M/s Pandit Bross as on March 31, 2017 Trial Balance Dr. Particulars Amount Particulars Cash 1,000 Capital Bank 5,000 Sales Wages 8,000 Creditors Salaries 25,000 Furniture 15,000 Rent of Building 13,000 Debtors 15,500 Bad Debts 4,500 Purchases 75,000 1,62,000 1,62,000 Adjustments: 1. Rent of building for one month was paid in advance. 2. Closing Stock amounted to: 10,000 3. Wages outstanding amounted of 500 4. Salaries included 75,000 paid in advance to an employee. 5. Furniture was to be depreciated @ 10%p.a. 6. Debtors included bad debts? 2,500 Required: 1. Adjustment entries 2. Trial Balance after adjustment Closing entries 4. Trading and profit and loss account 5. Trial balance after closing entries 6. Balance Sheet as at March 31, 2017
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started