Question

prepare a balance sheet of mr. narahari as on 31-3-2020.

capital $56,000
drawing 10,000
land and buildings 30,000
machinery 20,000
Bills receivable 5,000
cash in hand 5,000
sundry creditors 10,000
closing stock 11,000
bank loan 10,000
net profit 5,000.​

Answer 1

Answer:

lia: capital+n.p- drawings= ans + creditors+ bank loan

assets : land+machine+b/r+cash+closing stock

Explanation:

liabilitiez: 56000+5000-10,000= 51000+10,000+10,000= 71000

assets: 30,000+20,000+5000+5000+11000= 71000