QUESTION 7

FROM THE UNDERSTATED TRIAL BALANCE OF M/S RASHU BROTHERS PREPARE

(A) BALANCE SHEET

Trial Balance as on 31st December 2019 Debit balances Amount Credit balances (Rs.) Wages 20,000 Sales Stock (Raw Materials) 1.1.2004 5,710 Profit and Loss Balance Purchases 88,274 1.1.2004 Amount (Rs.) 1,74,000 12,000 Capital 1,30,000 Carriage Inward Repairs 3,686 6,000 Salaries (factory) 2,100 Salaries General 1,000 Rates and Taxes 2,240 3,550 Travelling Expenses Insurance (Factory) 700 Insurance General 80 Bad debts 410 General Expenses 2,942 Carriage Outward 9,424 Various Assets 1,13,884 Stock (Finished goods) 1.1.2004 56,000 3,16,000 Total Total The Closing Stocks are as follows: 3,16,000 Raw materials Work-in-progress Finished goods RM 40,000 12,000 6,000