From the following trial balance of …

From the following trial balance of Shri Krishan prepare his trading and profit and loss account for the year ending 31st March 2016 and balance sheet as on that date Commission received ₹3000 Cash at Bank ₹3500 Purchases ₹41000 Sales ₹99000 Purchases Returns ₹1000 Sales Returns ₹4000 Wages ₹12500 Carriage inward ₹2,000 Carriage on sales ₹3500 Opening stock ₹6000 Building ₹40000 Machinery ₹20000 Capital ₹60000 Salary ₹15000 Sundry debtors ₹22500 Sundry creditors ₹8000 General expenses ₹3000 Insurance ₹2000 Rent received ₹5000 Drawings ₹5000 Provision for doubtful debts ₹4000 Adjustments:- 1. Outstanding salary ₹1000 2. Rent due but not received ₹2000 3.Further bad debts ₹1000 and make provision for doubtful debts at 5% on debtors 4. On 31st march 2016 stock was valued at ₹ 7000 5. Depreciate machinery at 10% and buildings by 5%

Chapter 3 question number 21

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

Accounting equation practical problem so Accounts

Paid cash to kamlesh rs 15000

Show the Accounting equation for the following transaction (i)Gopinath started business with cash

What is bad depts and how we can show in journal and ledger

Features of accounting ?

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.