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?
A) Rs. 5,55,000
B) Rs. 7,80,000
C) Rs. 8,55,000
D) Rs. 9.55,000​

Answer 1

Answer:

855000

Explanation

liability:-.

capital=4lac.

net profit=3 lac

liabilities=80000

taxes=75000.

total=855000.

Assets:-

fixed asset=400000

investment=200000

current assets=125000

Accured income=100000

total= 855000

accrued income is the income that is yet to be received.so we write it in asset side