Financial accounting Fullscreen19.44Double Entry Book Keeping-CBSE XIIllustration 23.FinFrom the following balances extracted from the books of Hari on 31st March, 2021,prepare his Trading and Profit and Loss Account and Balance Sheet:Particulars₹ParticularsOpening Stock₹96,000Repairs to PlantWages and Salaries1,60032,000Cash in Hand and at Bank2,000Commission on PurchasesFreight Inwards2,000Debtors40,0003,000Income TaxPurchases less Returns5,5001,18,5006,500Sales less ReturnsDrawingsapital2,49,00050,000Trade Expenses200Bills Payable5,000Bills Receivable6,000Loan9,000Rent2,000Discount on Purchases4,000Plant20,000Creditors23,300Bad Debts5,000Output CGST A/c10,00015,000Output SGST A/c10,000Input CGST A/cInput SGST A/c15,000Output IGST A/c15,0005,000Input IGST A/cInformation: Stock at cost at the end was 37,500 against its Net Realisable Value(Market Value) of35,000.OUNT OFTRADING AND DSolution:s-WhatsApp Image 2022-06-12 at 11.55.11 PM.jpeg

Trading and Profit and loss Account The purpose of preparing the trading and profit and loss account…

From the following balances extracted from the books of Hari on 31st March, 2021, prepare his Trading and Profit and Loss Account and Balance Sheet: Particulars ₹ Particulars ₹ Opening Stock 96,000 Repairs to Plant Wages and Salaries 32,000 Cash in Hand and at Bank Commission on Purchases Freight Inwards 2,000 Debtors 3,000 Income Tax urchases less Returns 1,18,500 Drawings ales less Returns 2,49,000 Capital 200 Bills Payable ade Expenses Ils Receivable 6,000 Loan ent 2,000 Discount on Purchases ant 20,000 Creditors d Debts 5,000 Output CGST A/c 15,000 out CGST A/c Output SGST A/c 15.000 Output IGST A/c ut SGST A/C 1,600 2,000 40,000 5,500 6,500 50,000 5,000 9,000 4,000 23,300 10,000 10,000 15.000

From the following balances extracted from the books of Hari on 31st March, 2021, prepare his Trading and Profit and Loss Account and Balance Sheet: Particulars ₹ Particulars ₹ Opening Stock 96,000 Repairs to Plant Wages and Salaries 32,000 Cash in Hand and at Bank Commission on Purchases Freight Inwards 2,000 Debtors 3,000 Income Tax urchases less Returns 1,18,500 Drawings ales less Returns 2,49,000 Capital 200 Bills Payable ade Expenses Ils Receivable 6,000 Loan ent 2,000 Discount on Purchases ant 20,000 Creditors d Debts 5,000 Output CGST A/c 15,000 out CGST A/c Output SGST A/c 15.000 Output IGST A/c ut SGST A/C 1,600 2,000 40,000 5,500 6,500 50,000 5,000 9,000 4,000 23,300 10,000 10,000 15.000

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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om/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocat- Current Position Analysis The following items are reported on a company's balance sheet: Cash $248,600 Marketable securities 194,200 Accounts receivable (net) 197,000 Inventory 137,100 Accounts payable 457,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio b. Quick ratio Check My Work Email Ins All work saved. %23
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