Question

Consider the following balances extracted from the books of Jain as on 31st December, 2016. Prepare the final accounts. 6M
Adjustments
i. ii. iii.
iv.
Salaries outstanding for December, 2016 amounted to Rs. 600. Provide depreciation on furniture @ 10% p.a.
Provide interest on capital for the year @ 5% p.a. Stock on 31st December, 2016 Rs. 14,000.

Answer 1

Explanation:

6M

Adjustments

i. ii. iii.

iv.

Salaries outstanding for December, 2016 amounted to Rs. 600. Provide depreciation on furniture @ 10% p.a.

Provide interest on capital for the year @ 5% p.a. Stock on 31st December, 2016

Answer 2

Answer:

2) Consider the following balances extracted from the books of Jain as on 31st December,

2016.

Prepare the final accounts.

Adjustments

i. Salaries outstanding for December, 2016 amounted to Rs. 600

ii. Provide depreciation on furniture @ 10% p.a.

iii. Provide interest on capital for the year @ 5% p.a.

iv. Stock on 31st December, 2016 Rs. 14,000