191 1 52.2KB/s12:1235%FINAL ACCOUNTS.pdfi.Stock on 31st March, 2016 Rs. 20,000i.Outstanding wages amounted to Rs. 4,000Gas and fuel was paid in advance for Rs. 1,000From the following balances as on 31st December, 2017, prepareprofit and loss account.Question 2-ParticularsParticularsGross profit50,000 Rent received2,000Salaries18,000 Discount received3,000Office rent paid12,000 Carriage outwards2,500Advertisement8,000 Fire insurance premium6,500Adjustments:Rent accrued but not yet received Rs. 500i.i.Fire insurance premium prepaid to the extent of Rs. 1,500Provide manager's commission at 10% on profits before charging suchcommission.iii.Question-From the following balraw up a trading and Profit and6/7Loss Account-WHOS CETE DA N Testname.oneYOLA HERОpenLove QuizV tenarn

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Description: 191 1 52.2KB/s12:1235%FINAL ACCOUNTS.pdfi.Stock on 31st March, 2016 Rs. 20,000i.Outstanding wages amounted to Rs. 4,000Gas and fuel was paid in advance for Rs. 1,000From the following balances as on 31st December, 2017, prepareprofit and loss accoun

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From the following balances as on 31st December, 2017, prepare profit and loss account. Question 2- Particulars Particulars 50,000 Rent received 18,000 Discount received 12,000 Carriage outwards 8,000 Fire insurance premium Gross profit 2,000 Salaries Office rent paid Advertisement 3,000 2,500 6,500 Adjustments: Rent accrued but not yet received Rs. 500 i. Fire insurance premium prepaid to the extent of Rs. 1,500 ii. ii. Provide manager's commission at 10% on profits before charging such commission.

From the following balances as on 31st December, 2017, prepare profit and loss account. Question 2- Particulars Particulars 50,000 Rent received 18,000 Discount received 12,000 Carriage outwards 8,000 Fire insurance premium Gross profit 2,000 Salaries Office rent paid Advertisement 3,000 2,500 6,500 Adjustments: Rent accrued but not yet received Rs. 500 i. Fire insurance premium prepaid to the extent of Rs. 1,500 ii. ii. Provide manager's commission at 10% on profits before charging such commission.

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 15.17EX: Profitability ratios The following selected data were taken from the financial statements of...

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