Question

Prepare the Financial Statement from the following Trial Balance for the year ended Dis 0. 31st December, 2016. HiW Ren Plar Sala Particulars Debit ₹ Credit Adve 10.00 2,500 1,000 2,700 900 Genc Loar Capi Drave Bad Moto Capital a/c Machinery a/c Salaries a/c Debtors a/c Drawings a/c Creditors a/c Interest a/c Purchases a/c Wages a/c Bank a/c Stock a/c Rent a/c Commission a/c Şales a/c Loan a/c (1.7.2016) Carriage a/c 9.500 5,000 1,500 2,000 450 Adjus (1) C. (2) In (3) In (4) A books (5) ₹ 10,00 3.00 350 10% [Ans. 23, 25,900 25.900​

Answer 1

Working Notes:

WN1: Calculation of Amount of Depreciation

Depreciation Machinery=40,000×

10

100

=Rs 4,000

Depreciation Furniture=5,000×

5

100

=Rs 250

WN2: Calculation of Provision for Doubtful

Provision = (Sundry Approval Basis)×

Rate

100

= (20,600−7,200)×

5

100

=Rs 670

Answer 2

Answer:

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