From the accompanying trial offset and other data get ready benefit and misfortune represent the year finished 31 March 2009 and an accounting report on that date:
Debit Rs.
Credit Rs.
X’s Capital Account
-
10,00,000
Withdrawals of goods for personal use
1,000
-
Balance at bank
1,76,000
-
Motor Vehicle
1,50,000
-
Debtors and Creditors
2,94,000
2,30,000
Printing and stationery
6,600
-
Gross Profit
-
5,71,400
Provision for doubtful debts
-
5,000
Bad debts
11,400
-
Freehold premises
8,00,000
-
Repairs to Premises
47,600
-
General Reserve
-
2,00,000
Proprietor’s remuneration
20,000
-
Stock
2,80,000
-
Delivery expenses
99,000
-
Administrative expenses
1,31,400
-
Rates and taxes
15,000
-
Drawings
1,00,000
-
Unpaid wages
-
1,600
Last Year Profit and Loss Account Balance
-
1,24,000
21,32,000
21,32,000
Modification
(i) Depreciation on Motor Vehicles @ half
(ii) Creditors incorporate a case for harms of Rs. 30,000 and which was settled by paying Rs. 20,000.
(iii) Rates paid ahead of time Rs. 3,000.
(iv) Provision for terrible obligations is to be lessened to Rs. 3,500.
(v) The thing of repairs to premises incorporates Rs. 20,000 for securing of capital resource.
(vi) Stock of stationery close by on 31 March 2009 is Rs. 2,200.