Page 35 - VIRANSH COACHING CLASSES

Balance Sheet as on 31st March, 2019
Liabilities Amt. Amt. Assets Amt. Amt.
` ` ` `
Capital : Daya 1,60,000 Building 75,000
Add : Net Profit 44,311 Less : Depreciation 5% 3,750 71,250
Less: (Goods taken over by 1,000 2,03,311 Machinery 1,14,800
Daya for personal use) Less : Depreciation 3% 3,444 1,11,356
Capital Kshama 1,20,000 Bills Receivable 28,000

Add : Net Profit 44,310 1,64,310 Less : Bills Receivable 3,000 25,000
General Reserve 14,500 Dishonoured
O/s Advertisement Exp. 1,500 Motor Car 68,000
(3 months) Cash at Bank 12,000
Creditors 98,000 Closing Stock 40,000
Outstanding Wages 700 Sundry Debtors 1,32,500
Add : Bills Receivable 3,000

Dishonoured
1,35,500
Add : Unrecorded Sales 6,000
1,41,500
Less : Bad debts (New) 1,800
1,39,700
Less : R.D.D. 5% (New) 6,985 1,32,715
10% Investment 20,000

Add : Interest Accrued 2,000 22,000
4,82,321 4,82,321
Working Notes :

(1) Adjustment No. 3, 5 and 6 are co-related with sundry Debtors. So, while calculating R.D.D.
5% on sundry Debtors, Amount of dishonour of Bills ` 3,000) and goods sold but not recorded
(` 6000) will be added into the sundry Debtors, then new Bad Debts will be deducted and then
Less R.D.D (New) 5% 6985 after 5% R.D.D should be calculated.

1st effect Sundry Debtors 1,32,500
Add : Bills dishonoured 3,000
Add : Unrecorded sales 6,000

1,41,500
Less Bad debts (New) 1,800

1,39,700
Less R.D.D (New) 5% 6,985

` 1,32,715 (Shown on Assets side of Balance Sheet)

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