Question

Вас
Of

Rs.
ТІ
30,00
70,000
adv
(vi) Insurance prepaid amounts to Rs. 200.
(C.U.B.Com.(Gen.) 2015)
Ans. Gross Profit Rs. 67,000, Net Profit Rs. 27,540, Balance Sheet Total Rs. 1,58,890,
30. Following the Trail Balance of M. H. Basak as on 31.3.2015. You are required to prepare
Trading and Profit & Loss Account for the year ended 31.3.2015 and Balance Sheet as on the same
date :
Debit Balance
Rs. Credit Balance
Opening Stock
10,000 Capital
1,60,000
Plant & Machinery
80,000 Sundry Creditor
20,000
Furniture
50,000 Sales
Drawing
10,000 Commission Received
1,600
Sundry Debtors
30,000
Wages
4,000 300
Salaries
wi6,000 hab
Commission Paid
1,600
Purchases
but 40,000
40,000 to zivona
Bad Debts
7,000
Insurance
2,000
Cash in hand
11,000
Sortarwote
BA
2,51,600
Additional Information :
(i) Stock as on 31.3.2015 Rs. 16,000.
(ii) Create a provision for doubtful debts @ 6% on Sundry Debtors and write off Rs. 3,000
as further bad debts.
(iii) Goods worth Rs. 12,000 were lost by fire and insurance claim of Rs. 8,000 was received.
(iv) Wages include Rs. 400 for installation of plant.
(v) Provide depreciation @ 15% on Machinery and 10% on Furniture, blues
[C.U.B.Com. (Gen.) 2016]
Ans. Gross Profit Rs. 44,400; Net Profit Rs. 3,720; Balance Sheet Total Rs. 1,73,720.
wa
2,51,600
(it's urgent can you please tell me wages entry and what will I do with wages installation )​

Answer 1

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