Page 50 - VIRANSH COACHING CLASSES

BALANCE SHEET
As on 31 March, 2019
st
Liabilities Amount Amount Assets Amount Amount
` ` ` `

Capital : Sapre 35,000 Land & Building 10,000
Add : Net Profit 3,300 Less : Depreciation5% 500 9,500
38,300 Plant & Machinery 25,000
Less : Drawings 3,000 35,300 Less:Depreciation10% 2,000 23,000
Capital : Atre 35,000 Sundry Debtors 40,000
Add : Net Profit 3,300 Add : Unrecorded 3,000
38,300 Sales 43,000

Less : Drawings 2,000 36,300 Less : Bad debts (Now) 1,000
Providend Fund 10,000 Less : R.D.D. 5% 42,000
Outstanding Expenses : Closing Stock 2,100 39,900
Carriage 500 Providend Fund 23,000
Creditors 23,000 Investment 18,500
Add : Unrecorded 8,000 31,000
Purchases
Commission Received in

advance 800
1,13,900 1,13,900

Working Notes :
1) While calculating Depreciation on Machinery, we have to consider the date of purchase of
additional Machine, which is purchased on 1st Oct 2018. (Additional Machine Purchased
`10,000) So -
25,000

15,000 10,000
On ` 15,000, Dep. @ 10% for On 10,000, Dep. @ 10% for
12 months 6 months only

1,500 500
10 1 1 6
15,000 × = ` 1,500 × × = ` 500
100 1,000 100 12
So Depreciation is 1,500 + 500 = ` 2,000

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