Question

Prepare financial statement of the firm Ramesh and Mahesh
Following is the Trail Balance of Chharavilm Ltd. as on 31 March, 2020:
Name of Accounts
Debit Credit
Amount Rs. Amount Rs.
Equity Share Capital
25,00,000
10% Preference Share Capital
15,00,000
Office and Sales Expenses
2,00,000
Purchase less Returns
33,00,000
10% Debentures
10,00,000
Sales less Returns
48,00,000
Computer Software
2,00,000
Computers
5,00,000
Wages
8,00,000
Debentures Interest
100,000
Salary
4,00,000
Bank Overdraft
20,000
Land and Building
20,00,000
Opening Stock
1.50,000
Discount Received
Debtors and Creditors
7,50,000
BUL
1,00,000
Proposed Dividend
Depreciations and Amortizations
Non-Current Investments
8,00,000
Current Investments
2.00.000
Total 100,00.000 100.00.000
Additional Information
1. The value of Closing Stock Is Als. 1,80,000
2. The Tax Provision is to be created @ 50% of the Profit of the year,
From the above information prepare Financial Statements of the company for the year
ended as at 31 March, 2020 as per scheduled Ill of the Companies Act 2013. Notes
to the accounts are not required​

Answer 1

Answer:

answer is no 1 the value of closing stock is a/s 180000