34 The following is the Trial …

34 The following is the Trial Balance of Zoya Steels Ltd. as on 31 March 2018. 6 Name of Accounts Debit (Rs) Credit (Rs) Cash in Hand 1,080 Cash at Bank 5.260 Purchases and Sales 81,350 1,97,560 Return Inwards and Outwards 1.360 1.000 Wages 20,960 Fuel and Power 9,460 Carriage on Sales 13,400 Carriage on purchases 4,080 Opening Inventory 11,520 Building 60,000 Freehold Land 20.000 Machinery 36.000 Salaries. 33,000 Patents 12,000 General Expenses 6,000 Insurance 1.200 Capital Drawings Sundry Debtors and Creditors Total 1,42.000 10,490 29,000 15,600 3,56,160 3,56,160 You are required to prepare Trading Account, Profit& Loss Account and Balance Sheet as on that date after considering the following adjustments- 1. Inventory at the end was 13,600, 2. Insurance includes a premium of 170 for the next year. 3. Wages include a sum of 4,000 spent on the erection of cycle shed for employees. 4 A provision for bad and doubtful debts is to created on debtors @5% on sundry debtor. 5. Manager is to be given a commission of 10% on Net Profits before charging such commission.

Paid cash to kamlesh rs 15000

Accounting equation practical problem so Accounts

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

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

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

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.

Features of accounting ?

Chapter 3 question number 21

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.​

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