(Hint: Profit before transfer to General
Transfer to General Reserve--23,280 (1.e., 10% of ? 32,800).
20170
18
13. Following is the Trial Balance of M/s Indramani Jaiswal as on 31st March, 2020
(v) On 25th March, 2020, goods costing 1.500 and furniture costing 3,000 were
by fire, insurance company has accepted claims of 1,000 for goods and
[Gross Profit-82.827; Net Profit- 48,264; Balance Sheet Total
Credit Balances
Debit Balances
27,000 Capital
Building
16,500 Retums Outward
Machinery
6,300 Sales
Furniture
27,142
Provision for Doubtful Debts
Goodwill
Creditors
31,790
Productive Wages
15,040 Bills Payable
Salaries
2,470 Bank Loan
Freight Inwards
Freight Outwards
2,000
Manufacturing Expenses
11,000
surance
3,000
eneral Expenses
6,630
ebtors
67,360
pening Stock
29.170
urchases
95,015
returns Inward
3,128
ommission
989
ad Debts
1,300
ank Charges
460
ank Balance
7,145
ash
721
3,54,160
Prepare Trading and Profit and Loss Account for the year ending 31st March, 20
Balance Sheet as on that date after making the following adjustments:
(i) Value of Closing Stock * 6,100.
(ii) Depreciate machinery @ 10% p.a.
(iii) Create Provision for Doubtful Debts at 5% on debtors.
(iv) Commission payable to manager at 10% on nét profit.
furniture.
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