Question

The trial balance 31st March

Answer 1

Prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as at that date after taking into account the following adjustments: (i) Closing Stock was valued at Rs. 7,000. (ii) Outstanding liabilities for wages were Rs. 600 and salaries Rs. 1,400. (iii) Depreciation is to be provided @ 5% p.a. on all fixed assets. (iv) Included in Plant and Machinery is a machine purchased for Rs. 10,000 on 1st October, 2017. (v) Insurance premium paid in advance Rs. 200. adjustments in preparation of financial statements class-11 Share It On commented 2 days ago by vvcolmbccd1155 (14 points) Thx 1 Answer +2 votes answered Sep 3, 2019 by PujaBharti (55.5k points) selected Sep 3, 2019 by faiz Balance Sheet as on March 31,2018 commented Dec 8, 2021 by manpreet9285 (12 points) +1 Can you plss tell me how there is depriciation amount of plant and machinery was 7250 commented Dec 29, 2021 by afirric (10 points) 1,50,000 of plant and machinery INCLUDES 10,000 new machine bought in october. so you have to split the amount to 1,40,000 and 10,000 and find depreciation separately. 1,40,000 * 5/100 and 10,000 * 5/100 * 6/12 (only used for 6 months). this will give 7000 and 250 respectively. ← Prev QuestionNext Question → Find MCQs & Mock Test Free JEE Main Mock Test Free NEET Mock Test Class 12 Chapterwise MCQ Test Class 11 Chapterwise Practice Test Class 10 Chapterwise MCQ Test Class 9 Chapterwise MCQ Test Class 8 Chapterwise MCQ Test Class 7 Chapterwise MCQ Test Related questions 0 votes 1 answer From the following Trial Balance of M/s. Ram Lal and Sons, prepare Trading, Profit and Loss Account for the year ending 31st March, 2018 asked Sep 3, 2019 in Accounts by PujaBharti (55.5k points) adjustments in preparation of financial statements class-11 0 votes 1 answer The Trial Balance of M/s. Taj & Co. as on 31st March, 2018 was as follows: Prepare Trading and Profit and Loss Account asked Sep 3, 2019 in Accounts by PujaBharti (55.5k points) adjustments in preparation of financial statements class-11 0 votes 1 answer Following is the Trial Balance as on 31st March, 2018. Prepare Trading and Profit and Loss Account and Balance Sheet: asked Sep 3, 2019 in Accounts by Sindhu01 (57.5k points) adjustments in preparation of financial statements class-11 0 votes 1 answer From the following Trial Balance of M/s Arjun and Sons as on 31st March, 2018, prepare Trading and Profit and Loss Account and Balance Sheet: asked Sep 3, 2019 in Accounts by Sindhu01 (57.5k points) adjustments in preparation of financial statements class-11 0 votes 1 answer Following Trial Balance were extracted from the books of Ram as on 31st March, 2018: Prepare Trading and Profit and Loss asked Sep 3, 2019 in Accounts by Sindhu01 (57.5k points) adjustments in preparation of financial statements class-11 Read more on Sarthaks.com - https://www.sarthaks.com/478283/trial-balance-business-31st-march-2018-is-given-below-prepare-trading-and-profit-and-loss