Increase the bad debts provision to 6% of Debtors. On 31st March, 2003 Rs. 570 was outstanding for Salaries. Rent Receivable Rs. 200. Interest on Capital at 5%. On 31st March, 2003 stock is valued at Rs. 14290. Unexpired insurance Rs. 240. Q. 12 From the following Balance of Mr. S, You are required to prepare Final Account for the year ended 31st March, 2003 after making the necessary adjustments: Particulars Debit Credit Capital and Drawings Account 10000 200000 Freehold Property 60000 - Plant and Machinery 100000 - Salaries 14000 - Printing and stationery 2000 - Furniture and Fixtures 4000 - Discount 1500 - Bills payable - 5700 Debtors and Creditors 25000 Insurance 3000 - Bad Trial 600 - Office Rent 2600 - Loose Tools 2000 - Provision for doubtful debts - 4800 Loan to Sudhir @ 10% on 1.10.2002 40000 - Interest on loan to Sudhir - 1000 Cash at Bank 25000 - Cash In hand 10500 - Stock 31.3.2003 74000 - Trading profits - 117200 Outstanding wages on 31.3.2003 - 500
Increase the bad debts provision to 6% of Debtors. On 31st March, 2003 Rs. 570 was outstanding for Salaries. Rent Receivable Rs. 200. Interest on Capital at 5%. On 31st March, 2003 stock is valued at Rs. 14290. Unexpired insurance Rs. 240. Q. 12 From the following Balance of Mr. S, You are required to prepare Final Account for the year ended 31st March, 2003 after making the necessary adjustments: Particulars Debit Credit Capital and Drawings Account Freehold Property Plant and Machinery Salaries Printing and stationery Furniture and Fixtures Discount Bills payable Debtors and Creditors Insurance Bad Office Rent Loose Tools Provision for doubtful debts Loan to Sudhir @ 10% on 1.10.2002 Interest on loan to Sudhir Cash at Bank Cash In hand Stock 31.3.2003 Trading profits Outstanding wages on 31.3.2003 10000 60000 100000 14000 2000 4000 1500 - 25000 3000 600 2600 2000 - 40000 - 25000 10500 74000 - - 200000 - - - - - - 5700 - - - - 4800 - 1000 - - - 117200 500 Trial
bcom_notes.docx