Debit
|
Rs.
|
Credit
|
Rs.
|
Opening Stock
Sundry Debtors
Purchases
Wages
Salaries
Office Expenses
Conveyance
Insurance
Plant & Machinery
Return Inward
Land & Building
Cash at Bank
Bills Receivable
Drawings :
Devi
Jaya
|
20,000
28,200
40,000
8,500
2,700
2,446
1,300
1,800
30,000
3,500
40,000
2,654
12,000
4,200
1,200
|
Return Outward
Sundry Creditors
Sales
Reserve for Bad Debts
Capital
Account:
Devi
Jaya
Loan @ 10% p.a. (Taken on 1.4.97)
|
2,500
31,600
70,000
400
70,000
20,000
4,000
|
1,98,500
|
1,98,500
|
You are given the following additional information.
1. Closing stock was valued at Rs. 52,000/-
2. Bills Receivable includes a dishonoured bill of Rs.
2,000
3. Write off Rs. 200/- as further bad debts and provide
6% reserve for bad debts on Sundry debtors.
4. Devi was entitled to a salary @ Rs. 500 p.m. and Jaya
was entitled to a commission of 5% on Gross profit.
5. Carriage inward included Rs. 1, 000 paid for transport
charges and octroi on new machinery purchases on 1- 10 – 1996.
52200
|
30344
|
93506-34548
|
163854
|
GROSS
PROFIT
|
NET
PROFIT
|
PARTNERS CAPITAL ACCOUNT
BALANCE
|
BALANCE
SHEET TOTAL
|