On 1st January, 2016 Mr Veer …

On 1st January, 2016 Mr Veer Das decided to start a driving school and also to sell car accessories through same place. For this purpose he bought a workshop at a cost of *20,00,000 and decided to invest * 7,50,000 as a further capital in the proposed business. He employed assistants and training staff for this purpose. He wants to start with 5 second hand cars. For further funds he approached Punjab National Bank and secured a loan of 18,00,000 @ 10% per annum. The loan was payable in 4 instalments along with interest due. Amt Purchased cars Security depsoited for electricity connection with electricity board 13,00,000 Security deposited with BSNL for telephone and Internet connection 60,000 1,50,000 Purchased furniture Fees received from students 1,20,000 19,50,000 Bought car accessories Sale of car accessories 3,30,000 4,80,000 Wages paid 2,70,000 3,75,000 Salaries paid Electricity charges 1,42,500 Advertisement Postage and call 66,000 28,500 General expenses Insurance premium 18,000 13,800 Bought laptop and printer 90,000 He withdrew 36,000 per month as drawings and repaid the annual instalment of bank loan along with interest due to 31st December, 2016. Assume all transactions took place through Punjab National Bank. You are required to (1) Journalise these transactions after considering the following information (i) Depreciate building by 5% and cars and furniture @ 10% per annum (ii) Stationery unpaid 27,000 (iii) Advertisement include unissued material worth 12,000. (iv) Insurance prepaid ₹ 4,500 (v) Stock of car accessories 58,500. (2) Post them into ledger and prepare trial balance. (3) Prepare financial statements for the year ended 31st December, 2016.

sum

Which method is best

The following is the trial balance of Zoya steel ltd. As on 31st March 2018

Journal entries of Q 18. Ch 3

To know the exact reason leading to net profit or net loss

Difference between expenses and expenditure

On 1st may 2020 cash book bank overdraft balance was ₹4000 on depositing ₹20,000 into bank and giving a cheque of ₹14,400 for rent the balance will be

Kuldeep, general merchant, keeps his accounts on that informatio the results of his business on alat March, 2023 and for that following information is ava 1st April, 2022 (1) 1,50,000 31st March, 2023 1,75,000 Cash in Hand 7,50,000 Bank Balance Furniture Stock 6,50,000 Creditors 3,50,000 Debtors 2.50,000 3,00.005 During the your, he had withdrawn ₹5,00,000 for his personal use and as additional capital. Calculate his profits on 31st March, 2023 and Stateme of Affairs as on that date. invested ₹25000円 (Profit - 74 ,75,000)

Define provision

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