AHEAD | LoginFA_21BUS101A-END-SEM ASSIGI Xhttps://aheadonline.amrita.edu/courses/34/assignments/2033?module_item_id=9674Discussions1. From the following Trial balance , you are require to prepare the final accounts for the year ended 31st December 2020.GradesParticularsAmount (Dr)Amount(Cr)4,80,000СapitalDrawingsLand & BuildingPeople1,35,0004,50,000PagesAccountCreditors3,15,000FilesPlant& Machinery1,20,000Purchase returns7,950SyllabusBills receivable18,000DashboardSales6,54,000QuizzesOpening stock1,20,0001,53,00078,0001,5003,0001,14,00010,20079,8001,35,0003,6006,00018,00011,850CoursesModulesPurchaseWagesCarriage outwardsCarriage inwardsSalariesCalendarDiscountInboxBank balanceDebtorsBad debtsSales returnsFurnitureAdvertisementsTotal14,56,95014,56,950Adjustments:Stock on 31st December,2020 is Rs. 1,05,000Machinery & Furniture to be depreciated @ 10%.Wages outstanding is Rs. 4,50OPrepaid Advertisement is Rs.1,500A provision for bad debts is to be provided on Debtors @ 5 %.ENG18:15DELL)INTL07-05-2022

Balance sheet: A balance sheet is an accounting record that tells about the company's overall…

1. From the following Trial balance, you are require to prepare the final accounts for the year ended 31* December 2020. |Particulars Capital Drawings Land & Building Creditors Plant& Machinery Purchase retums Bills receivable Sales Opening stock Purchase Wages |Carriage outwards Carriage inwards Salaries Discount Bank balance Debtors Bad debts Sales returns Furniture Advertisements Amount(Cr) | 4,80,000 Amount(Dr) 1,35,000 4,50,000 3,15,000 1,20,000 7,950 | 18,000 | 6,54,000 | 1,20,000 1,53,000 78,000 | 1,500 3,000 1,14,000 10,200 79,800 1,35,000 3,600 6,000 18,000 11,850 Total 14,56,950 14,56,950 Adjustments: Stock on 31* December,2020 is Rs. 1.05,000 Machinery & Furniture to be depreciated @ 10%. Wages outstanding is Rs. 4,500 Prepaid Advertisement is Rs. 1,500 A provision for bad debts is to be provided on Debtors @ 5 %.

1. From the following Trial balance, you are require to prepare the final accounts for the year ended 31* December 2020. |Particulars Capital Drawings Land & Building Creditors Plant& Machinery Purchase retums Bills receivable Sales Opening stock Purchase Wages |Carriage outwards Carriage inwards Salaries Discount Bank balance Debtors Bad debts Sales returns Furniture Advertisements Amount(Cr) | 4,80,000 Amount(Dr) 1,35,000 4,50,000 3,15,000 1,20,000 7,950 | 18,000 | 6,54,000 | 1,20,000 1,53,000 78,000 | 1,500 3,000 1,14,000 10,200 79,800 1,35,000 3,600 6,000 18,000 11,850 Total 14,56,950 14,56,950 Adjustments: Stock on 31* December,2020 is Rs. 1.05,000 Machinery & Furniture to be depreciated @ 10%. Wages outstanding is Rs. 4,500 Prepaid Advertisement is Rs. 1,500 A provision for bad debts is to be provided on Debtors @ 5 %.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 3MCQ

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