Uping-CBSEX
19.77
LF
Dr. (R)
Dr. (3)
Particulars
Particulars
Cr (3)
12,000
90 000
20.000
5,000
building
Capital
Sales
Purchases (Adjusted)
30,000
5,29,500
8,000
12.000
Solanes
Red Debts
Wages Outstanding (At the end)
Provision for Depreciation on Furniture
Apprentice Premium
Sundry Creditors
500
18,400
Wages
Pent
20,000
1,50,000
2,90,000
5,000
2,000
10,000
5,000
3,000
5,000
60,000
5,000
25,000
40,000
6,00,000
insurance
80,000
5.000
10,000
Furniture (At cost)
Drawings
Sundry Debtors
Closing Stock
600
500
1,000
6,00,000
101
400
21,300
15,500
3,000
Prepare Trading and Profit and Loss Account for the year ended 31st March, 2020 and
Balance Sheet as on that date after making the following adjustments:
(1) Salaries for the month of March, 2020 of 3 1,000 were unpaid which are to be provided.
Balance in the account included 800 paid in advance.
(it) Insurance is prepaid to the extent of 2,000.
(iii) Depreciate Furniture by 10% on original cost and Building by 5%.
(iv) Stock of 1,500 was taken by Ashok for his personal use.
(u) Make a Provision for Doubtful Debts equal to 10% of Sundry Debtors.
[Gross Profit—* 2,31,000; Net Profit—2,00,300; Balance Sheet Total— 2,52,800.]
12001
800
4,600
1,280
2,89,380
2.893%
and Profit and Loss Acum
heet as on that date.
Adjustments in Preparation of Financial Statements
16 The following is the Trial Balance of Ashok as on 31st March, 2020:
Prepaid Rent (At the end)
Answers
Explanation:
Uping-CBSEX
19.77
LF
Dr. (R)
Dr. (3)
Particulars
Particulars
Cr (3)
12,000
90 000
20.000
5,000
building
Capital
Sales
Purchases (Adjusted)
30,000
5,29,500
8,000
12.000
Solanes
Red Debts
Wages Outstanding (At the end)
Provision for Depreciation on Furniture
Apprentice Premium
Sundry Creditors
500
18,400
Wages
Pent
20,000
1,50,000
2,90,000
5,000
2,000
10,000
5,000
3,000
5,000
60,000
5,000
25,000
40,000
6,00,000
insurance
80,000
5.000
10,000
Furniture (At cost)
Drawings
Sundry Debtors
Closing Stock
600
500
1,000
6,00,000
101
400
21,300
15,500
3,000
Prepare Trading and Profit and Loss Account for the year ended 31st March, 2020 and
Balance Sheet as on that date after making the following adjustments:
(1) Salaries for the month of March, 2020 of 3 1,000 were unpaid which are to be provided.
Balance in the account included 800 paid in advance.
(it) Insurance is prepaid to the extent of 2,000.
(iii) Depreciate Furniture by 10% on original cost and Building by 5%.
(iv) Stock of 1,500 was taken by Ashok for his personal use.
(u) Make a Provision for Doubtful Debts equal to 10% of Sundry Debtors.
[Gross Profit—* 2,31,000; Net Profit—2,00,300; Balance Sheet Total— 2,52,800.]
12001
800
4,600
1,280
2,89,380
2.893%
and Profit and Loss Acum
heet as on that date.
Adjustments in Preparation of Financial Statements
16 The following is the Trial Balance of Ashok as on 31st March, 2020:
Prepaid Rent (At the end)