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plz solve as per question requirement The following is the Trial Balance of Mr. Gyan on 30th June, 2007: Rs. I Rs. 540 2,630 40,675
plz solve as per question requirement
The following is the Trial Balance of Mr. Gyan on 30th June, 2007: Rs. I Rs. 540 2,630 40,675 98,780 680 500 Balances Cash in Hand Cash at bank Purchases Account Sales Account Returns Inward Account Returns Outward Account Wages Account Fuel & Power Account Carriage on Sales Account Carriage on Purchase Account Stock Account (1st July, 2006) Building Account Freehold Land Account Machinery Account Patent Account Salaries Account General Expense Account Prepaid Insurance Drawings Account Capital Account Sundry Debtors Account Sundry Creditors Account TOTAL 10,480 4,730 3,200 2,040 5,760 30,000 10,000 20,000 7,500 15,000 3,000 600 5,245 71,000 14,500 6,300 1,76,580 1,76,580 Data for Adjustments Stock on hand on 30th June, 2007 is Rs. 6,800. Machinery is to be depreciated at the rate of 10% and patents at the rate of 20%. Salaries for the month of June 2007 amounting to Rs. 1,500 were unpaid. Insurance includes a premium of Rs. 170 on a policy expiring on 31st December 2007. A provision for Bad and Doubtful Debts is to be created to the extent of 5 per cent on Sundry Debtors. Required: Pass necessary adjusting entries in general journal. Prepare Ten-Column worksheetStep by Step Solution
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