Question

3. Prepare the financial Statements for the year ending 31.3.2016 from the following
details
Credit
Rs.
90.000
76.000
82.000
2.000
20.000
2.000
Debit Balances
Debit
Credit Balances
Rs.
Debtors
80,000 Capital
Purchases
70.000 Creditors
Stock
30,000 Sales
Wages
4,000 Discount
Factory Expenses
2.000 Bank loan
Discount
3,000 Commission
Interest on Loan
1.000
Salary
12,000
Fumiture
20.000
Vehicle
20.000
Office Rent
8,000
Drawings
8,000
Cash
6,000
Sundry Expenses
2.000
Commission
6,000
2,72,000
Adjustments
a. Closing Stock Rs. 18000
b. Salary prepaid Rs 3000
c. Write off bad debts Rs.4000
d. Depreciate furniture by Rs.2000
e. Interest on bank loan outstanding Rs.400
f. Commission carned but not received Rs. 1200
& Rent due but not paid Rs.2000

Answer 1

Answer:

Prepare the financial Statements for the year ending 31.3.2016 from the following

details

Credit

Rs.

90.000

76.000

82.000

2.000

20.000

2.000

Debit Balances

Debit

Credit Balances

Rs.

Debtors

80,000 Capital

Purchases

70.000 Creditors

Stock

30,000 Sales

Wages

4,000 Discount

Factory Expenses

2.000 Bank loan

Discount

3,000 Commission

Interest on Loan

1.000

Salary

12,000

Fumiture

20.000

Vehicle

20.000

Office Rent

8,000

Drawings

8,000

Cash

6,000

Sundry Expenses

2.000

Commission

6,000

2,72,000

Adjustments

a. Closing Stock Rs. 18000

b. Salary prepaid Rs 3000

c. Write off bad debts Rs.4000

d. Depreciate furniture by Rs.2000

e. Interest on bank loan outstanding Rs.400

f. Commission carned but not received Rs. 1200

& Rent due but not paid Rs.2000..