Question

Q2. From the following Trial Balance of Ramsay Public School, prepare Income & Expenditure account for the
year 2014-15 and a Balance Sheet as at 31-3-2015.
Debit Balance
Buildings
Furniture & Fixtures
Library Books
Investments @9%
Salaries
General Expenses
Annual Sports expenses
Amount Credit Balance
2,50,000 Admission Fees
55,000 Tuition & Other fees
60,000 Creditors for suppliers
2,00,000 Rent for the Hall
2,00,000 Miscellaneous Receipts
8,000 Government Grant
6,000 General Fund
Amount
5,000
2,00,000
6,000
4,000
12,000
1,40,000
4,00,000
Cash at Bank
20,000 Donation received for
purchase
Cash in Hand
1,000 Of Library Books
25,000
Sale of furniture (1.10.14) 8,000
8,00,000
8,00,000
Fees yet to be received for the year is Rs 10,000. Salaries yet to be paid amounted to Rs 12,000. Furniture
costing Rs 15,000 was purchased on 1-4-2014. The book value of the furniture sold was Rs 20,000 on 1-4-2014.
Depreciation is to be charged @10% per annum on Furniture, 15% on Library books and 5% on Buildings. Give
working notes, wherever necessary.


PLEASE answer this question i need it. 25 points. ​

Answer 1

Answer:

grzy5s68ro7djtzht

Explanation:

53tesu5stjztjzth