Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Quel. Prepare final accounts for the year 31.03.2017. Particulars (4 Marks) Cr. Dr. 6400 62500 75000 1,25,000 1,250 2000 25000 Furniture Motor Vehicle Building Capital
Quel. Prepare final accounts for the year 31.03.2017. Particulars (4 Marks) Cr. Dr. 6400 62500 75000 1,25,000 1,250 2000 25000 Furniture Motor Vehicle Building Capital Bad Debts Provision for bad debts Debtors/ Creditors Stock Purchases/sales Bank O/D Returns Advertisement Interest Commission Cash Taxes and Insurance Generalexpense Salary 38000 34,600 54,750 1,54,500 28,500 1,250 2,000 4,500 1,180 3,750 6,500 12,500 7,820 33,000 Adjustments: 1. Stock on 31.03.2017 Rs.32,500 2. Salary outstanding Rs. 3,000 3. Depreciation on building @5% 4. Write off Rs. 1,000 as bad debts and create a provision of 5% on debtors. 5.1/3 of commission received is in respect for next year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started