os The following balances are extracted from the books of Ramlal on 31-12-98 Prepare Trading account, Profit and Loss Account and Balance Sheet. Rs. Rs. Ramlal's drawings 5,000 Ramlal's capital 30,000 Furniture and Fittings 2,600 Bank overdraft 4,327 Business premises 20,000 Creditors 7,345 Stock (1-1-98) 33,117 Returns outwards 1,326 Sundry debtors 17,300 Rents from tenants 320 Purchases 1,00,000 Sales 1,39,204 Returns inwards 1,905 Discount 1,600 Taxes and insurance 1,000 1,82,522 1,82,522 Adjustments : 1. Stock at end Rs. 20,904. 2. 4% of deprectiation allowed on premises, furniture and fittings. 3. Allow Interest on capital at 5%. 4. Carry forward unexpired insurance Rs. 200. 5. Make a reserve of 5% on Sundry debtors.
os The following balances are extracted from the books of Ramlal on 31-12-98 Prepare Trading account, Profit and Loss Account and Balance Sheet. Rs. Rs. Ramlal's drawings 5,000 Ramlal's capital 30,000 Furniture and Fittings 2,600 Bank overdraft 4,327 Business premises 20,000 Creditors 7,345 Stock (1-1-98) 33,117 Returns outwards 1,326 Sundry debtors 17,300 Rents from tenants 320 Purchases 1,00,000 Sales 1,39,204 Returns inwards 1,905 Discount 1,600 Taxes and insurance 1,000 1,82,522 1,82,522 Adjustments : 1. Stock at end Rs. 20,904. 2. 4% of deprectiation allowed on premises, furniture and fittings. 3. Allow Interest on capital at 5%. 4. Carry forward unexpired insurance Rs. 200. 5. Make a reserve of 5% on Sundry debtors.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The following balances are extracted from the books of Ramlal on 31-12-98
Q8
Prepare Trading account, Profit and Loss Account and Balance Sheet
Rs.
Rs.
Ramlal's drawings
5,000
Ramlal's capital
30,000
Furniture and Fittings
2,600
Bank overdraft
4,327
Business premises
20,000
Creditors
7,345
Stock (1-1-98)
33,117
Returns outwards
1,326
Sundry debtors
17,300
Rents from tenants
320
Purchases
1,00,000
Sales
1,39,204
Returns inwards
1,905
Discount
1,600
Taxes and insurance
1,000
1,82,522
1,82,522
Adjustments :
1.
Stock at end Rs. 20,904.
2.
4% of deprectiation allowed on premises, furniture and fittings.
3.
Allow interest on capital at 5%.
4.
Carry forward unexpired insurance Rs. 200.
5.
Make a reserve of 5% on Sundry debtors.
O O
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