Plllz heeelp me , solve this On 31st December, 2008 the following Trial balance was extracted from the books
or a merchant:
r, md D K F ot Glcbal EOk
Z019-03• 09m:S7_
Final Accounts With Adjustment
Debit Balances
Drawings
Sundry Debtors
Interest on Loan
Cash in hand
Stæk on 1st Jan. 2008
Motor Vehicles
Cash at Bank
Land and Buildings
Bad Debts
PurchLses
Sales Return
Carriage Outward
Carriage Inward
Salaries
Rates. Taxes and Insurance
Advertising
General expenses
Bills
30
42m
270
1100
15m
720
1840
12,0
403170
Credit Baiances
Capital
Sundry Creditors
Loan on Mortgage
Bad Debts Reserve
Sales
Purchases return
Discount
Bills Payable
Rent received
T 85
null)
21011)
1m
403170
Prepare Trading and Profit and loss account for the year ended 31st December,
2004 and
matters:
(a)
(b)
(c)
(d)
(e)
(f)
(g)
Balance sheet as on that date after making adjustment for the following
Depreciate land and buildings at 11/2 and motor vehicles at 10%.
Interest on loan at 6 per cent per annum is unpaid for six months.
Goods costing Rs. 2000 were sent to a customer on sale or return for
Rs. 3000 on 30th December, 2008 and has been recorded in the- books
as actual sales.
Salaries amounting to Rs. 120 and rates amounting to Rs. 100 are
outstanding.
Prepaid insurance amounted to Rs. 80.
The provision for bad debts is to be maintained at 5% on sundry debtors.
Provide for Manager's commission at on net profits after charging
such commission.
Stock in hand on 31s1 Decembet, 2004 was valued at Rs 40000.