ffice Question 5. 1. From the following Trial Balance of the ABC Company, prepare the (a) Trading and Profit & Loss Account (b) Balance Sheet Rs. Rs. Capital Machinery Furniture & Fixtures 47,500 Opening Stock Cash in bank Cash in hand 23,500 7,500 8,700 8,250 10,560 Account Payable Purchases 10,000 39,200 Sales Trade Creditors Trade Debtors 63,850 1,610 4,150 3,920 1,500 Wages Drawings Sales Return Rent 250 6,000 1,500 240 Advertising Salaries Mics. Expenses Postage Expenses Carriage Inward Carriage Outward Discount Received 1,500 190 500 1,000 500 Motor Vehicle 8,000 Loan 3,000 126,460 126,460 Additional Information: • Closing Stock 7,400 • Depreciate Machinery at 10%, Furniture & Fixtures at 20% and Motor Vehicle at 5%. 2. Analyze the Financial Position of the ABC Company by keeping in view Trading and Profit & Loss Account and Balance Sheet you prepared. What will you suggest to investors about the investment in the company?

ffice Question 5. 1. From the following Trial Balance of the ABC Company, prepare the (a) Trading and Profit & Loss Account (b) Balance Sheet Rs. Rs. Capital Machinery Furniture & Fixtures 47,500 Opening Stock Cash in bank Cash in hand 23,500 7,500 8,700 8,250 10,560 Account Payable Purchases 10,000 39,200 Sales Trade Creditors Trade Debtors 63,850 1,610 4,150 3,920 1,500 Wages Drawings Sales Return Rent 250 6,000 1,500 240 Advertising Salaries Mics. Expenses Postage Expenses Carriage Inward Carriage Outward Discount Received 1,500 190 500 1,000 500 Motor Vehicle 8,000 Loan 3,000 126,460 126,460 Additional Information: • Closing Stock 7,400 • Depreciate Machinery at 10%, Furniture & Fixtures at 20% and Motor Vehicle at 5%. 2. Analyze the Financial Position of the ABC Company by keeping in view Trading and Profit & Loss Account and Balance Sheet you prepared. What will you suggest to investors about the investment in the company?

Name: fficeQuestion 5.1. From the following Trial Balance of the ABC Compan
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Description: fficeQuestion 5.1. From the following Trial Balance of the ABC Company, prepare the (a)Trading and Profit & Loss Account (b) Balance SheetRs.Rs.CapitalMachineryFurniture & Fixtures47,500Opening StockCash in bankCash in handAccount Payable23,5007,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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