Interested to Buy Any Domain ? << Click Here >> for more details...
Kindly solve the following problem.
Financial accounting.
1. Bheema does not maintain his book in the double entry
system . His books showed following facts.
Receipts for the year ended 31.12.2007
from sundry Debtors
17625.00
Cash sales
4125.00
paid by bheema (proprietor)
2500.00
total
24250.00
payments made for the year ended 31.02.2007
new machinery purchased
625.00
drawings
1500.00
wages
6725.00
salaries
1125.00
interestpaid
75.00
telephone
125.00
Rent
1200.00
lighting
475.00
sundry expenses
2125.00
sundry creditors
7625.00
total
21600.00
Assets and Liabilities
As on 31.12.2006
As at 31.12.2007
sundry creditors
2525.00
2400.00
sundry Debtors
3750.00
6125.00
Bank
625.00
?
stock
6250.00
3125.00
plant
7500.00
7315.00
from the Above data , prepare TRADING A/C, PROFFIT & LOSS
A/C for the year ended
31st december 2007 and the BALANCE SHEET as on on that date.
Kindly solve the problem
- 3 Answers
- 8862 Views
- I also Faced
- E-Mail Answers
Answer Posted / madan
As it is mentioned he has not maintained
the books of accounts in double entry
system of book keeping. It is understood
that he has maintained books of accounts in
single entry system of book keeping.. In
single entry system of book keeping we
cannot prepare trading a/c, profit and loss a/
c and Balance sheet.. We can prepare
statement of affairs, statement of profit
and loss and Revised statement of affairs..
This question is a tie breaking question.. -
Madan
| Is This Answer Correct ? | 8 Yes | 3 No |
Post New Answer View All Answers
how to calculate share values of a company.
I have an S Corporation called Trend Foods Inc. I would like to make a division of that company that services computers and call that Trend Computer Service. I do not want to set up another Corporation for Trend Computer Service. Can I just make a division of Trend Foods and what paperwork do I need to fill out to make that happen? Thanks for the help, Jim
what is Journal Entries?
What is corporate restructuring?
What is the use of final account?
How good are you at Finance?
can i get exact salary of clerk in SBI. and i want to know about promotion details .....
Fiscal year variant F1 has 6 posting periods and fiscal year variant F2 has 4 posting periods. The posting have different start and ending dates.assign posting period variant F1 is assigned to leading ledger (0L) and F2 is assigned to the non-leading ledger(N1). You get an error message when making a posting in the non-leading ledger.?( any 1 answer) • The posting period variant of the non-leading ledger and the leading are different • The fiscal year variant of the non-leading ledger and the leading ledger are different • The posting is being made in a special period, but both variants are examples of a shortened fiscal year • The posting period for the non leading ledger group”N1” is closed
Deposited Rs 25000 in Canara Bank of ABC co towards dealership deposit thru our SBH Bank Pass necessary entry
what is assessment? how many types of assessment will be there? and what is the documents and preparations for sales tax, service tax assessments??
Hello... i am looking jobs in investment banking, derivates and BRS and i apply nakuri,Timesjobs and monster. But i did not get the job. so if websites and ID. Please help me.. Thanking u...
Accounting related interview questions on ibm
what is your achievements?
where we have file E-returns in SAP FICO-CIN/Wtax?
What is the Branch Accountant Responsbilities ?
