Ex. 20. The following are the Balance Sheets of DAVNCOM Enterprises
2012
2013
Liabilities
2012
2013
Assets
Capital
1.50.000 1,60,000 Cash
5.000
8.000
Hire Purchase Vendor
20.000 Debtors
35.000 38.000
Loan from Bank
30.000 25.000 Stock
25.000 22.000
Current Liabilities
35.000 40,000 Land
20.000
30.000
Mrs. D's Loan
20.000 Buildings
50.000 55.000
Machinery Less Depreciation 80.000 87.000
Delivery Van
25.000
2.15.000 2.65,000
2.15.000 2.65,000
The delivery van was purchased o n hire purchase basis in December, 2013: a payment of 35,000
was made at the time of agreement and the balance of amount is to be paid in 20 monthly instalments
of 1,000 each together with interest @ 10% p.a. During the year the proprietor withdrew 25,000
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Answer:
2. Balance Sheet as on 31-03-2018. Ans: Refer page number 37 and question number 46 27. Srikant, Girish and Manju are partners sharing profits and losses equally Their Balance sheet as on 31.03.2014 was as follows: Balance Sheets as on 31.03.2017 Amount Amount Liabilities Assets Creditors 30,000 Cash 24,000 Bills payable 20,000) Bills receivable 28,000 Bank overdraft 25,000 Stock 36,000 Reserve fund 15,000 Investments 9000 Capital Debtors 20,000 Srikant 60,000 Furniture 25,000 Girish 50,000 Machinery Manju 30,000 Buildings 50,000 Profit Loss Ale 6,000 Total 2,30,000 Total 2,30,000 Manju retired on 1.4.2017 from the business and the following adjustments are to be made: 1) Goodwill of the firm is created Rs. 18,000 and retain in the
business. 32,000 Ts illuminator HI PU Accountancy