Question

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7. From the following particulars prepare a balance sheet as on 31-12-2014.
Capital
Rs 16,000/-
Bank loan (cr)
Rs 4,000/-
Creditors
Rs 2,400/-
Bills payable
Rs 1,000/-
Cash in hand
Rs 600/-
Plant and machinery Rs 7,520/-
Sundry debtors Rs 7,700/-
Drawings
Rs 2,000/-
Cash at bank
Rs 2,000/-​

Answer 1

Explanation:

Capital Amount Assets Amount

capital 16000 cash in hand 600

bank loan 4000 plant and 7520

creditors 2400 machinery

bills payable 1000 sundry debtors 7700

drawing 2000

cash at bank 2000