Question
From the following Trial Balance of ZeeP Ltd for the year ended 31st March 2014, prepare the Income Statement and Balance Sheet. Particulars Opening Stock
From the following Trial Balance of ZeeP Ltd for the year ended 31st March 2014, prepare the Income Statement and Balance Sheet.
Particulars Opening Stock
Plant and Machinery
Furniture and fixtures
Freehold Premises
Purchases
Salaries
Sundry Debtors
Manufacturing Wages
Maintenance Expenses
Carriage Inwards
Carriage Outwards Other Expenses
Bad Debts
Interest and Bank Charges
Rent
Insurance Premium Paid
Cash at Bank
Cash at hand
Common Stock 90,000
Sundry Creditors
Discount Received
Bank overdraft
Purchase Returns
Sales
Amt
45,000
85,000
7,500 75,000
1,50,000
14,000
55,000
30,000
15,000
2,000
2,100
10,000
750
625
750
1,500
695
150
43,000
3,500
20,000
1,500
3,37,070
Adjustments:
Closing Stock - Rs 57000; Insurance Prepaid - Rs 500
Salary paid in advance - Rs 600; Outstanding interest on overdraft - Rs 1000
Rent unpaid - Rs 400
Depreciation in plant and machinery - 10% p.a Depreciation on furniture and fixtures - 20% p.a
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