Question
The following trial balance us taken out from the books of Rashid and sons as on 31st December, 2019. Dr. Cr. Rs. Rs. Plant and
The following trial balance us taken out from the books of Rashid and sons as on 31st
December, 2019.
Dr. Cr.
Rs. Rs.
Plant and machinery 100,000
Opening stock 60,000
Purchases 160000
Building 170,000
Carriage inwards 3,400
Carriage outward 5000
Wages 32,000
sundry debtors 100,000
Salaries 24,000
Furniture 36,000
Trade expenses 12,000
Discount on sales 1,900
Advertisement 5,000
Bad debts 1,800
Drawings 10,000
Bills receivable 50,000
Insurance 4,400
Bank balance 20,000
Sales 480,000
Interest received 2000
Sundry creditors 40,000
Bank loan 100,000
Discount on purchases 2,000
Capital 171,500
795,500 795,500
Prepare the Income statement and Balance sheet for year ended 31st December, 2019. Closing
stock is valued at Rs. 90,000.
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Horngrens Cost Accounting A Managerial Emphasis
Authors: Srikant M. Datar, Madhav V. Rajan, Louis Beaubien
8th Canadian Edition
134453735, 9780134824680, 134824687, 9780134733081 , 978-0134453736
