Question

2. The following are the balances of reliance Ltd. As on 31" March, 2020:
Debit
Rs
Credit
Premises
3072000 Share Capital Rs 10 cach)
Plant
3300000 12% Debentures
Stock
750000 Profit and Loss Account
Debtors
870000 Bills Payable
Goodwill
250000 Creditors
Cash and Bank
406500 Sales
Calls in Artear
75000 General reserve
Interim Dividend Paid
392500 Bad debt provisionſ 1-4.
Purchases
18500002019)
Preliminary Expenses
50000
Wages
979800
General Expenses
68350
Salaries
202250
Rs
4000000
3000000
262500
370000
400000
4150000
250000
35000
Bad Debt
Debenture interest Paid
21100
180000
12467500
12467500
Additional Information's:
Depreciate plant by 15%
Half year's debenture interest due.
Credit 5% provision on debtors for doubtful debts
Provide for income Tax @50%
Stock on 31 March, 2020 was Rs 950000
A claim of Rs 25000 for workmen's compensation is being disputed by the company.
Preliminary Expenses written off in 5 years.
Proposed final dividend at 12% on paid up capital after transfer to general reserve 5%
of profit.
Prepare final Accounts of the company as per schedule III of Division I of AS 1 to the​

Answer 1

Answer:

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