Question

108) At the end of financial year 2015-16, the ledger of a
firm shows the following balances to prepare a balance
sheet.
1. Capital - Rs. 4,00,000/-
2. Net profit for the year 2015-16 - Rs. 3,00,000/-
3. Accrued Income - Rs. 1,00,000/-
4. Provision for taxes - Rs. 75,000/-
5. Cash and Bank account - Rs. 1,25,000/-
6. Investments - Rs. 2,00,000/-
7. Liabilities - Rs. 80,000/-
8. Fixed assets - Rs. 4,30,000/-
What will be the total of the Balance Sheet?​

Answer 1

Answer:

Explanation:

Liabilities side=capital+net profit+provision for taxes+liabilities=400000+300000+75000+80000=855000.

Now, Assets side=Accrued Income+cash and bank account+investment+fixed assets=100000+125000+200000+430000=855000

Answer 2

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