Prepare &L account and Balance sneet The following is the trial balance of the Honeywell Ltd. as on 31st December 2021. Debtors and Creditors 250000 200000 Purchases and Sales 647000 983500 Returns 4700 3500 Fixed Assets at cost 1597900 - Promotion expenses 13520 - Share capital (Rs.100 per share) - 1250000 Sinking fund - 250000 Reserve fund - 47600 Bad debt Reserve 10000 Cash 17750 - Manufacturing expenses 21000 - Wages 75000 - Unclaimed dividends 1700 Interest on investments - 11400 Depreciation 70000 - Administrative expenses 34680 - - Debentures - 300000 erest on debentures 6000 - les expenses 8000 - d debts 3400 - preciation fund - 202400 I's payable - 9300 ofit and Loss Account 10600 estments 350000 - ndry expenses 1050 - ock on 1st January 2021 130000 - odwill at cost 50000 - TAL 3280000 3280000 justments: Closing stock amounted to Rs.137000 Maintain the reserve for debtors @ 5% Write off preliminary expenses. Add Rs.10000 to sinking fund Provide for debenture interest.

Prepare &L account and Balance sneet The following is the trial balance of the Honeywell Ltd. as on 31st December 2021. Debtors and Creditors 250000 200000 Purchases and Sales 647000 983500 Returns 4700 3500 Fixed Assets at cost 1597900 - Promotion expenses 13520 - Share capital (Rs.100 per share) - 1250000 Sinking fund - 250000 Reserve fund - 47600 Bad debt Reserve 10000 Cash 17750 - Manufacturing expenses 21000 - Wages 75000 - Unclaimed dividends 1700 Interest on investments - 11400 Depreciation 70000 - Administrative expenses 34680 - - Debentures - 300000 erest on debentures 6000 - les expenses 8000 - d debts 3400 - preciation fund - 202400 I's payable - 9300 ofit and Loss Account 10600 estments 350000 - ndry expenses 1050 - ock on 1st January 2021 130000 - odwill at cost 50000 - TAL 3280000 3280000 justments: Closing stock amounted to Rs.137000 Maintain the reserve for debtors @ 5% Write off preliminary expenses. Add Rs.10000 to sinking fund Provide for debenture interest.

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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