Debit Balance
Amt.
Credit Balance
Amt.
Drawings
12,000
Capital
4,00,000
Purchase
6,00,000
Sales
9,98,000
Stock ( 1-4-20)
60,000
Purchase return
20,000
Carriage inward
10,000
Interest on debentures
10,000
Sales return
40,000
Discount received
4000
Salary
1,20,000
Commission received
2000
Wages
40,000
10% Bank loan
2,00,000
Office expenses
80,000
Bills payable
15,000
Debtors
90,000
Creditors
70,000
Bills receivable
30,000
Outstanding rent
1000
Advertisement expenses
50,000
Stationary expense
6000
Machinery
90,000
Buildings
3,00,000
Furniture
60,000
Rent
12,000
Investment in 10% Debentures
1,00,000
Interest on bank loan
20,000
17,20,000
17,20,000
Adjustments :-
1) Closing stock of Rs 50000 out of which market value of 40% stock is 10 % more.
2) Unrecorded credit purchase is Rs 5,000.
3) Goods of Rs 10,000 destroyed by fire for which insurance company accepted full claim.
4) Goods of Rs 15,000 withdrawn for personal use.
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Answer:
6,00,000. Sales 9,98,000. Stock ( 1-4-20) 60,000. Purchase return 20,000 . Carriage inward 10,000. Interest on debentures
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