4. Prepare Trading and Profit and Loss A/C for the year ending 31 March 2020 anda Balance Sheet as on that date from the following Trial Balance and additionalinformation. TRIAL BALANCE AS ON 31-03-2020ParticularsDebit Rs.Credit Rs.Opening Stock 1BuildingMachineryPurchases52,0001,00,00060,0001,50,00010,0008,00051,0004,000SalariesRentDebtorsCarriage inwardWagesManufacturing ExpensesFurnitureBad DebtsInsurance10,0008,00020,0002,5002,0001,000Cash in HandCapitalCreditorsBank Over DraftProvision for Bad Debt93,00040,00020,000SalesCommission received3,0003,20,0002,5004785004,78,500Additional Information:Y Wages outstanding Rs. 5002. Insurance prepaid Rs. 250Write off bad debts Rs. 1,0004. Provide for bad and doubtful debts at 5% on Debtors5. Provide interest on Capital at 5%6. Depreciate machinery and furniture by 10%Interest on overdraft due amounts to Rs. 1,2003.7.8. Closing Stock is valued at Rs. 70,000.(3 х 10%3D 30)

Trading Account is a financial statement that shows the result of buying and selling goods and…

Prepare Trading and Profit and Loss A/C for the year ending 31* March 2020 and a Balance Sheet as on that date from the following Trial Balance and additional information. TRIAL BALANCE AS ON 31-03-2020

Prepare Trading and Profit and Loss A/C for the year ending 31* March 2020 and a Balance Sheet as on that date from the following Trial Balance and additional information. TRIAL BALANCE AS ON 31-03-2020

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 8E: Balance Sheet Calculations Dawson Companys balance sheet information at the end of 2019 and 2020 is...

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Question

4. Prepare Trading and Profit and Loss A/C for the year ending 31 March 2020 and
a Balance Sheet as on that date from the following Trial Balance and additional
information. TRIAL BALANCE AS ON 31-03-2020
Particulars
Debit Rs.
Credit Rs.
Opening Stock 1
Building
Machinery
Purchases
52,000
1,00,000
60,000
1,50,000
10,000
8,000
51,000
4,000
Salaries
Rent
Debtors
Carriage inward
Wages
Manufacturing Expenses
Furniture
Bad Debts
Insurance
10,000
8,000
20,000
2,500
2,000
1,000
Cash in Hand
Capital
Creditors
Bank Over Draft
Provision for Bad Debt
93,000
40,000
20,000
Sales
Commission received
3,000
3,20,000
2,500
478500
4,78,500
Additional Information:
Y Wages outstanding Rs. 500
2. Insurance prepaid Rs. 250
Write off bad debts Rs. 1,000
4. Provide for bad and doubtful debts at 5% on Debtors
5. Provide interest on Capital at 5%
6. Depreciate machinery and furniture by 10%
Interest on overdraft due amounts to Rs. 1,200
3.
7.
8. Closing Stock is valued at Rs. 70,000.
(3 х 10%3D 30)

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