` ` ` ` Particulars Particulars To Insurance Premium 4,000 Less: Unexpired Insurance 1,000 3,000 To Discount 2,000 To Provision for Bad ` 12,000 16,000 Add: Bad Debts Less: Old provision 9,000 19,000 To Commission payable to Manager 37,520 To Net Profit transferred to Capital Account 3,75,200 5,48,220 5,48,220 Balance Sheet as on 31st March, 2013 ` ` ` ` Liabilities Assets Capital Fixed Assets: Opening Balance 800,000 Goodwill 2,00,000 Add: Net profit 3,75,200 Furniture 100,000 Less: Drawings 60,000 11,15,200 Less: Depreciation 10,000 90,000 Creditors 2,00,000 Current Assets: Outstanding Salary 5,000 Unexpired Insurance 1,000 Commission Payable to Unexpired advertising Managers expenses 37,520 37,500 Commission earned but not received 1,220 Stock 5,30,000 Sundry Debtors 4,00,000 Less: Provision for bad debts 12,000 3,88,000 Cash at bank 58,000 Cash in hand 52,000 13,57,220 1,35,7220
Particulars ` ` Particulars ` ` To Insurance Premium Less: Unexpired Insurance To Discount To Provision for Bad ` Add: Bad Debts Less: Old provision To Commission payable to Manager To Net Profit transferred to Capital Account 4,000 1,000 3,000 2,000 12,000 16,000 9,000 19,000 37,520 3,75,200 5,48,220 5,48,220 Balance Sheet as on 31st March, 2013 Liabilities ` ` Assets ` ` Capital Fixed Assets: Opening Balance 800,000 Goodwill 2,00,000 Add: Net profit 3,75,200 Furniture 100,000 Less: Drawings 60,000 11,15,200 Less: Depreciation 10,000 90,000 Creditors 2,00,000 Current Assets: Outstanding Salary 5,000 Unexpired Insurance 1,000 Commission Payable to Unexpired advertising Managers 37,520 expenses 37,500 Commission earned but not received 1,220 Stock 5,30,000 Sundry Debtors 4,00,000 Less: Provision for bad debts 12,000 3,88,000 Cash at bank 58,000 Cash in hand 52,000 13,57,220 1,35,7220
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