Question

MR.KANHA HAD 1OOO SHARES OF ICIC LTD. OF RS.1OO EACH IN MARCH 2017,HE SOLD HIS SHARES @980 EACH 1 APRIL 2014 WITH THIS AMOUNT HE DECIDED TO START BUSINESS OF KIDS GARMENTS UNDER THE NAME OF KANHA GARMENTS.HE DECIDED TO MAKE ALL TRANSACTION THROUGH BANK AND DEPOSIT ALL MONEY IN ICICI BANK. HE PURCHASED LAND BUILDING FOR FACTORY AT 400000 PLANT AND MACHINE AT 350000 FURNITURE 50000 STOCK 90000. HE ALSO TOOK A LOAN FROM ICICI BANK FOR RS.400000 @ 10%. HE PURCHASED A COMPUTER FOR 30000.HIS TRANSACTION FOR THE YEAR ENDED 31/3/2015 WERE TOTAL PURCHASE 12,40,000 (8,30,000) IN CREDIT.TOTAL SALES 20,50,000 (15,25,000) IN CREDIT.WAGES- 2,30,000. , CARRIAGE_20,500. , POWER-15,500. ,SALARY-1,25,000. , POSTAGE- 4,200. PRINTING AND STATIONARY-3,800. ADVERTISEMENT-16,700. , INSURANCE PREMIUM-12,100. , CONVEYENCE-13,200.CASH RECEIVED FROM DEBTORS-12,10,000. 10% FD IN ICICI BANK-5,00,000. PAID TO CREDITORS-6,50,000. BILL RECEIVED FROM DEBTORS-1,00,000. BILL ACCEPTED FOR CREDITORS-80,000. DRAWINGS-60,000.ADJUSTEMENTS:- (1) CLOSING STOCK - 1,10,000. (2) DEPRECIATE LAND AND BUILDING-5% , PLANTS AND MACHINERY-10% , COMPUTER-25%. (3) SALARY OUTSTANDING - 8000. WAGES OUTSTANDING- 15,000. (4) INSURANCE PREPAID-1200. (5) INTEREST ACCURED ON INVESTMENTS-25,000.YOU ARE REQUIRED TO PREPARE:-(1) JOURNAL (2) TRIAL BALANCE

Answer 1

the answer is 0.4578235595