Page 38 - VIRANSH COACHING CLASSES

Balance Sheet as on 31 March, 2019
st
Liabilities Amount Amount Assets Amount Amount
` ` ` `
Capital : Land and Building 37,800
Shilpa 45,000 Less : 5%Depreciation 1,890 35,910

Add : Net Profit 17,732 Furniture 17,250
62,732 Less :10% Depreciation 1,725 15,525
Less : Drawings 2,000 60,732 Sundry Debtors 40,000
Katrina 45,000 Less : Bad debts 1,000
Add : Net Profit 17,733 39,000
62,733 Less : R.D.D. 3% 1,170 37,830
Less : Drawings 3,000 59,733 Cash in Hand 20,000

Bills Payable 17,500 Cash at Bank 8,000
Outstanding Expenses : Closing Stock 58,000
Wages 800 Advance Salary 2,000
Royalties 1500 2,300 Advance to Shaharukh 10,000
Bank Overdraft 10,000
Sundry Creditors 22,000
Bank Loan 15,000

1,87,265 1,87,265
3. Rucha and Juili are partners sharing Profits and Losses in their Capital Ratio. From the
following Trial Balance and adjustments you are required to prepare Final Accounts.

Trial Balance as on 31 March, 2019
st
Particulars Debit ` Particulars Credit `
Purchases 48,000 Capital A/c
Trade Expenses 3,000 Rucha 80,000
Salaries 4,500 Juili 40,000
Wages and Salaries 2,800 Sundry Creditors 22,000
Advertisement (2 Years) 4,000 Sales 1,48,000
Sales Returns 8,000 R.D.D. 1,200
Freehold Property 23,000 Bills Payable 12,000
Office Rent 5,000 Purchases Return 6,000
Motor Van 40,000
Stock (1/4/2018) 89,500
General Expenses 2,500
Sundry Debtors 62,000
Coal, Gas, Fuel 1,000
Carriage Inward 800
Carriage Outward 1,300
Plant and Machinery 13,800
3,09,200 3,09,200

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