Question

Q2*
12 points
Q2. Miss Meena and Miss Reena are in partnership sharing profit and loss in the ratio 3-2. From the
following trial balance and adjustments, you are required to prepare trading and P&L account for the year
ended 31" March, 2013 and prepare Balance sheet as on that date.
(12 Marks)
As on 31-3-2013
Amt
3,00 000
200 000
8.14,000
1.80.000
20,000
Debit
Building
Plant and Machinery
Purchases
Carriage
Opening Stock
Wages
Sundry debtors
Salary
Postage and Telegram
Insurance
Bad Debt
Rent
Discount
Drawings A/c Meena
Reena
Amt
Credit
4,00 000 Capital A/c Meena
1 20,000
Reena
6 50,000 Sales
7.000 Sundry Creditors
90.000 Bank Overdraft
35 000
1.50.000
28.000
4,000
5000
3.000
4.000
3.000
10 000
5.000
15. 14.000
15,14,000
Adjustments:
(1) Stock in hand on 31st March, 2013 was valued at 1 10,000
(2) Depreciate Plant and Machinery at 10%pa
(3) Create Reserve for Doubtful Debts at 5% on Sundry Debtors.
(4) Salaries include 2,500 as advance to workers
(5) Partners are allowed interest at 5% p a on their capitals
O
GP-1,42,000, NP- 53000, B/S Total-
7,53,000
O
GP-1,42,000, NP-53000, B/S Total-
7,63,000
O
GP-1,32,000, NP-43000, B/S Total-
7,53,000​

Answer 1

Answer:

mala nahi mahit sorry Hi good morning