Manoj & Mahavir joined a firm drawing salary of Rs 25000 per
month.After serving 3 yrs ,they started business of their
own in partnership,contributing Rs200000(expected life 10
yrs,bought spare parts worth Rs 33000 from Kundu on
credit.Office supplies were purchased for cash.Initially
they were very busy in conducting their business operations
but by the end of the 1st year,31/12/2005 they were
disappointed when they found their bank balances.Following
is the summary of their bank statement.
Receipts: Share Capital Rs 250000
Collections from Customers 412000
Payments: Equipment 200000
Salaries of Assistants 88000
Rent advance for 2 yrs 96000
On-year ins. Policy on equipment 12000
Office stationery 27000
Payment to Kundu 29000
Withdrawals of Manoj 90000
Withdrawals of Mahavir 90000
Closing balance c/d 30000
-----------
Total : 6,62,000
Still amount receivable from customers for services to them
amounted to Rs 30,000 & closing balance of office stationery
is Rs2000,spare parts Rs2600 were utilised by the end of the
year .Prepare trial balance with the available information
and show total.
Also what is the net profit.
- 3 Answers
- 4477 Views
- I also Faced
- E-Mail Answers
Answer Posted / arju
Hey some one pleasee reply me!!
:(
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
is it related to b.com syllabus or puc syllabus
can any one send me tally professional version link
what is wct ? who take its benefit? e.g. we are works contractor, we are liable to take its benefit or not..
Tell us in accounting, how do you define premises?
In 3 way match.....Order qty is 100 and received 90 and 10 got rejected. But the supplier sent an invoice for 100 qty. what are the steps we need to take in SAP. Whether we need to reject the invoice or process with the 90 qty .please explain with real time.
example wrongly financial statments showing vat refund (under Advances) for the finanical year 08-09 , but present assement year after assement by cto given vat refund more than ledger showing balance then decided to every month set off vat payable to vat refund(advance) but more than recoverd compare with company and cto then what is the entry to be take.
Purchase and sales sahres accounting entry which have stt brokerage and other taxes
what is apply SI post
BRIEF IN DETAIL REGARDING RATIOS
what is the entry for toll gate fee
Wha is difference between expenses and expenditure
Ledger Enteries
What are the functions of manger -accounts and manager-finance? Explain in detail
Why did you select accounting as your profession?
what is one way , two way matching , three way , four way matching ?
