Question

jaya and maya are partners in firm sharing profit and loss in ratio in 2:3 respectively
prepare trading profit and loss accounts of the year​

Answer 1

Answer:

Adjustments:

(1) Closing stock was valued at Rs. 22,600.

(2) Purchases include purchase of furniture of 10,000 made on $$1^{st} October, 2012.

(3) Depreciate land and buildings at 10% p.a.; plant and machinery at 10% p.a. and furniture at 20% p.a.

(4) Create R.D.D. at %% on sundry debtors.