LS1929: The following is the Trial Balance of a trader as at 31st December, 2001

 150

SKU: 536f32cbe1f3 Category:

Downloadable Assignment Solution

Buy this solution and download mba assignment solution instantly after secured payment.

Question: The following is the Trial Balance of a trader as at 31st December, 2001:

my assignment solution

Adjustments:

Stock at the end was Rs. 78,600

Included amongst the debtors is Rs. 3,000 due from Zee Nat and included amongst the creditors is Rs. 1,000 due to her.

The effect of advertising not yet expired; a quarter of the amount ‘Printing and Advertising’ is to be carried forward to the next year.

Reserve 2 per cent for discount on Debtors and create a bad debts reserve at 5percent.

A depreciation of 10% p.a. is to be written off Furniture and fittings.

Wages owing on 31st December, 2001 is Rs. 300, salaries owing Rs. 500 and carriage owing Rs. 100.

Prepaid insurance is Rs. 80.

Furniture which stood at Rs. 600 in books Ist January, 2001 was disposed of at Rs. 290 on June, in part exchange for new furniture costing Rs. 520. A net invoice at Rs.
230 was passed through the purchase-day book.

Purchase Invoice amounting to Rs. 400 had been omitted from the books.

A Neon-sign costing Rs. 100 is included in Advertising.

Two dishonored chouse for Rs. 200 and Rs. 300 respectively has not been entered in the cast book. The first for Rs. 200 is known to be bad. In the case of second chouse for Rs. 300, it is expected that 75% of it would be realized.

Private purchase amounting to Rs. 600 had been included in the Purchase Daybook.

Charge full year’s interest on Deposit with Pran at 7% p.a.

Provide for interest on Bank loan for the amount due.

Prepare Final Accounts.


Complete MBA Assignments Solution

You can buy complete assignment solution. Visit yours university link from top menu and buy online. You can also post your assignment requirement through email, so our expert assignments tutor will solved your problem.

Answer Blurr Actual Answer after purchase