Question
From the following information, create income statement and balance sheet of SGRCS ltd. on 31 st March 2023 Particulars Amount Particulars Amount Capital 2,00,000 Cash
From the following information, create income statement and balance sheet of SGRCS ltd. on 31 st March 2023
Particulars | Amount | Particulars | Amount |
Capital | ₹2,00,000 | Cash at Bank | ₹ 12,000 |
Printing and stationery | ₹ 5,000 | Salaries | ₹ 56,000 |
Plant & Machine | ₹2,80,000 | Repairs | ₹ 5,000 |
Delivery vehicle | ₹ 58,000 | Opening Stock | ₹ 48,000 |
Sundry debtors | ₹ 80,000 | Rent | ₹ 24,000 |
Manufacturing Expenses. | ₹ 25,000 | Bank Balance | ₹ 38,300 |
Sundry creditors | ₹ 30,000 | Distribution Expenses | ₹ 1,500 |
Purchases | ₹ 3,80,000 | Bills Payable | ₹ 25,000 |
Sales | ₹ 5,80,000 | Bad debts | ₹ 4,000 |
Carriage Outward | ₹ 7,000 | Carriage Inwards | ₹ 7,000 |
Wages | ₹ 48,000.00 |
Additional Information:
1. Closing stock was Rs.36000
2. Depreciate Plant & Machine @10% and delivery vehicle @5%
3. Unpaid rent amounted to Rs.2000
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
