Question

Following is the trial balance or
balance of Rohan and Sohan on 31st March, 2019
Dr.
Particulars
LUAATTISTIILISI
To Sala
To Deli
To Ch
To De
10/10
TOP
Amount R)
Amount )
Particulars
Machinery (Cost)
3,00,000 Capital :
Closing Stock
2,40,000
32,000
Rohan
Copy Right
1,60,000
18,000 Sohan
21,400
Land
1,35,000 Reserve Fund
3,000
Salaries
16,620 Bank Overdraft
1,400
Cash Balance
15,600 Bad debt provision
4,300
Delevery van expenses
1,500
Interest on investment
Bills Receivable
4,680
26,850
Sundry Creditors
42,800
Debtors
12,000
Workmen Compensation Fund
1,400
Charity
1,22,850
Trading Account
30,000 (Gross Profit)
10% Investment (1.7 2018)
Profit from Joint venture
1,400
Drawings
Depreciation Fund
Rohan
12,000
30,000
on Plant & Machinery
8.000
Sohan
20.000
Nev
Le
TO
6,20,400
6,20,400
for the year en
after taking into
Prepare the Profit and Loss A/C, Profit and Loss Appropriation A/c of the firmi
ne year ended on 31st March, 2019 and a Balance Sheet as on that date
taking into consideration of the following
Allow interest on partners' capitals @ 5% p.a.
Transfer 10% of net profit to Reserve Fund.
(ii)
(iii) Bad debts pro
(iv)
Manager is entitled
such commission
debts provision has to be increased to 5% on sundry debtors.
preciate Machinery @ 10% under W.D.V.
is entitled to a commission of 5% on net profit after charging​

Answer 1

Answer:

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