At the end of financial year the ledger if 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?
Answers
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Answer:
855000
Explanation:
liabilities side. asset side
capital. 400000. accrued income 100000
net profit. 300000. cash and bank 125000
provision for tax 75000. investment. 200000
liabilities. 80000. fixed asset. 430000
total. 855000. 855000
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