Question

Furniture
Machinery
Sun and Moon are Partners in Partnership Firm sharing Profits and Losses equally. You
required to give effects of Adjustments with the help of following information.
Trial Balance as on 31" March, 2019
Debit Balance
Amount₹
Credit Balance
Amount
Land & Building
40,000 Capital A/C
18,000
Sun
33,500
40.000
Moon
33,500
(Purchased on 1/7/18)
Current A/c: Sun
6,000
2.000
Sundry Creditors
25,000
Wages
2,000 Bank Overdraft
10,000
Current A/c : Moon
4,000 Reserve Fund
5.000
8% Debentures
8.000 Providend Fund
5.000
(Purchased on 1/10/18)
Providend Fund Investment
3.500
Stock of Postal stamps
500
1,18.000
1,18,000
Goodwill​

Answer 1

Answer:

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Answer 2

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