Accountancy, asked by swati5513, 9 days ago

Q.7 Mamta and Samta are Partners in partnership sharing profit and losses in the ratio of 3:2. From the following Trial Balance and adjustment given below, you are required to prepare Trading and Profit and Loss A/c For the year ended 31st March, 2020 and Balance Sheet on that da

Answers

Answered by Ilavarasan7184

Answer:

Trading and Profit and Loss and Appropriation A/c

For the year ending 31.03.2013

Particulars

Amount

Particulars

Amount

To opening stock

32800

By sales

194000

To purchases 109000

By closing stock

22600

Less: furniture 10000

99000

To wages and salaries

28600

To carriage inwards

3700

To gross profit c/d

52500

216600

To new RDD 4400

By gross profit b/d

52500

Less: old RDD 2000

2400

By commission

5500

To insurance

3700

By gross loss c/d

10000

To rent, rates and taxes

14600

To office expenses

7300

To depreciation:

Furniture

4000

Land and buildings

30000

Plant and machinery

6000

68000

To gross loss b/d

10000

By Partner’s current A/c:

Jaya (2/5)

4000

Maya (3/5)

6000

10000

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Q.7 Mamta and Samta are Partners in partnership sharing profit and losses in the ratio of 3:2. From the following Trial Balance and adjustment given below, you are required to prepare Trading and Profit and Loss A/c For the year ended 31st March, 2020 and Balance Sheet on that da​

Answers

Q.7 Mamta and Samta are Partners in partnership sharing profit and losses in the ratio of 3:2. From the following Trial Balance and adjustment given below, you are required to prepare Trading and Profit and Loss A/c For the year ended 31st March, 2020 and Balance Sheet on that da