Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Do not copy paste this question as the answer which is on chegg is spam and i already reported it..! will report your answer too

Do not copy paste this question as the answer which is on chegg is spam and i already reported it..! will report your answer too if yo do copy/ paste.

image text in transcribed

Do not attempt this question unless you are 100% sure. If the answer is not correct i will give 5 downvotes.. Please help*

35,200 From the following figures extracted from the books of Govind, you are required to prepare a Trading and Profit and Loss Account for the year ended 31st March, 1998 and a Balance Sheet as on that date after making the necessary adjustments : Particulars Rs Particulars Rs Shri Govind's capital 2,28,800 Stock 1.4.97 38,500 Shy Govind's drawings 13,200 | Wages Et and Machinery 99,000 Sundry Creditors 44.000 Freehold property 66,000 Postage & Telegrams 1.540 Purchases 1,10,000 Insurance 1.760 2.970 1,100 Gas and fuel Returns outwards 660 13,200 Bad debts Salaries 2.860 2,750 Office rent Office expenses 9.900 5,500 Freight Office furniture Discounts A/c. (Dr.) 1,320 Loose tools Sundry Debtors 29,260. Factory lighting 44,000 Provision for Doubtful Debts Loan to Shri Krishna @ 10% p.a. balance on 1.4.97 29,260 Interest on loan to Shri Krishna Cash at bank 5,500 Cash in hand Bills payable 2.31,440 Sales 2,200 1,100 880 1,100 2.640

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

4th Edition

0471072419, 978-0471072416

More Books

Students also viewed these Accounting questions

Question

=+b) What are the upper and lower 3s control limits?

Answered: 1 week ago