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Q.2. Describe the treatment of following adjustments (additional information given outside trial balance) while preparing Final Accounts (Balance Sheet and Income Statement): [6] (a) Depreciation
Q.2. Describe the treatment of following adjustments (additional information given outside trial balance) while preparing Final Accounts (Balance Sheet and Income Statement): [6] (a) Depreciation on Fixed assets INR 2000 (b) Provision for Bad Debts INR 1000 Accrued interest income INR 200 (d) Closing stock INR 5000 Expectations: For each item, explain how will you adjust them in profit&loss account and then in balance sheet one by one. (c)
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