Further Information:-
i) Fixed Assets to be depreciated by 5% on closing balance
ii) S/D includes Rs. 4000 which is irrecoverable and S/C includes Rs. 3000 which is untenable.
iii) A suppliers bill of Rs. 14000 was paid by Mr. Mozumder from his private source and Mr. Mozumder sold his personal car at 8000 and deposited the sale proceed in business case.
iv) Mr. Mozumder paid his personal Income Tax from Business Bank of Rs. 7000. Prepare statement of P/L for the year ended 31.3.15 and make his final statement of Affairs.
Further Information:-
i) Fixed Assets to be depreciated by 5% on closing balance
ii) S/D includes Rs. 4000 which is irrecoverable and S/C includes Rs. 3000 which is untenable.
iii) A suppliers bill of Rs. 14000 was paid by Mr. Mozumder from his private source and Mr. Mozumder sold his personal car at 8000 and deposited the sale proceed in business case.
iv) Mr. Mozumder paid his personal Income Tax from Business Bank of Rs. 7000. Prepare statement of P/L for the year ended 31.3.15 and make his final statement of Affairs.
Difference between Accounting Information System (AIS) and Accounting System (AS).
Write five points for Valuation of Inventory according to AS – 2
A/c. Later on the following errors were discovered. Pass rectifying entries and prepare Suspense
Alc.
1. Purchases book was overcast by 100
2. Sales book was overcast by 1,000.
3. Goods for 800 purchased from Umakant, though entered in the purchase book, has not been
posted to his account.
4. An amount of 500 has been posted to the credit side of commission account instead of 570.
5. Goods sold to Bharti for 4,400 has been posted to her account as 4,000
6. Goods sold to X for 750 were recorded in purchase book
Opening Capital 60,000; Drawings 5,000; Capital added during the year 10,000 and Closing Capital
90,000. Calculate the Profit and Loss for the year