Mr. Bansal submitted to you the following trial balance, which he has not been able to...
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Mr. Bansal submitted to you the following trial balance, which he has not been able to agree. Rewrite the trial balance and prepare trading and profit and loss account for the year ended 31.3.2021 and a balance sheet as on that date after giving effect to the undermentioned adjustments: Particulars Capital Opening stock Closing stock Drawings Returns inward Carriage inward Deposit with X Returns outward Carriage outward Rent paid Rent outstanding Purchases Sundry debtors Sundry creditors Furniture Sales Wages Cash Advertisement Dr. ₹ 17,500 3,305 1,240 840 800 150 13,000 5,000 1,500 850 1,370 950 46,505 Cr. ₹ 16,000 18,790 550 1,400 725 2,200 29,000 68,665 Adjustments: 1. Write off 600 as bad debt and make a provision for doubtful debts at 5% on balance sundry debtors. 2. Stock valued at 2,000 was destroyed by fire on 25th March, 2021, but insurance company admitted a claim for 1,500 only and paid the sum in April, 2021. 3. Depreciation to be provided on furniture at 10% per annum. Mr. Bansal submitted to you the following trial balance, which he has not been able to agree. Rewrite the trial balance and prepare trading and profit and loss account for the year ended 31.3.2021 and a balance sheet as on that date after giving effect to the undermentioned adjustments: Particulars Capital Opening stock Closing stock Drawings Returns inward Carriage inward Deposit with X Returns outward Carriage outward Rent paid Rent outstanding Purchases Sundry debtors Sundry creditors Furniture Sales Wages Cash Advertisement Dr. ₹ 17,500 3,305 1,240 840 800 150 13,000 5,000 1,500 850 1,370 950 46,505 Cr. ₹ 16,000 18,790 550 1,400 725 2,200 29,000 68,665 Adjustments: 1. Write off 600 as bad debt and make a provision for doubtful debts at 5% on balance sundry debtors. 2. Stock valued at 2,000 was destroyed by fire on 25th March, 2021, but insurance company admitted a claim for 1,500 only and paid the sum in April, 2021. 3. Depreciation to be provided on furniture at 10% per annum.
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College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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