Scribd Logo
Upload

Welcome to Scribd!

  • Total 1815000 Total 18150 00

    Uploaded by

    Ikram Ul Haq
    24 views2 pages
    Closing stock on 31st December 1993 was Rs. 58000. There was no further liability for income tax except for 1993 for which a provision of Rs. 50000 should be made. Writeoff Rs.5000 from preliminary expenses. The director recommended that Rs 25000 be transferrd to general reserve and a final dividend of 5% be paid on equity shares.

    Original Description:

    Original Title

    Final Account

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Closing stock on 31st December 1993 was Rs. 58000. There was no further liability for income tax except for 1993 for which a provision of Rs. 50000 should be made. Writeoff Rs.5000 from preliminary expenses. The director recommended that Rs 25000 be transferrd to general reserve and a final dividend of 5% be paid on equity shares.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    24 views2 pages

    Total 1815000 Total 18150 00

    Uploaded by

    Ikram Ul Haq
    Closing stock on 31st December 1993 was Rs. 58000. There was no further liability for income tax except for 1993 for which a provision of Rs. 50000 should be made. Writeoff Rs.5000 from preliminary expenses. The director recommended that Rs 25000 be transferrd to general reserve and a final dividend of 5% be paid on equity shares.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    From the following trial balance, prepare final accounts

    Stock (1.1.93)
    Rs. 60000 Sundry creditors
    Purchases
    Wages
    Electric power
    Manufacturing expenses

    320000
    90000
    15000
    35000

    Carriage outward
    Carriage inward
    Salaries
    Insurance

    20000
    10000
    60000
    10000

    Sundry debtors
    Bank balance
    Sinking fund investment
    (4% securities of Rs.
    100000)
    Debenture interest
    Land & building
    Plant & machinery
    Director fee
    Audit fee
    Income tax paid
    Interim dividend paid
    Preliminary expenses
    Goodwill
    Total

    90000
    6000
    90000
    6000
    300000
    450000
    10000
    6000
    41000
    36000
    20000
    140000
    1815000

    Provision for income tax


    Profit and loss account
    General reserve
    Share capital
    (50000 Share @ 10 each)
    6% debenture
    Salaries and wages unpaid
    Sales
    Interest received on Govt;
    securities
    Sinking fund

    Rs.
    45000
    45000
    38000
    100000
    500000
    200000
    25000
    770000
    2000
    90000

    Total

    18150
    00
    st
    The closing stock on 31
    December 1993 was Rs. 58000. There was no further
    liability for income tax except for 1993 for which a provision of Rs. 50000 should be
    made. Depreciation is to be provided @ 2% on land and building and 10% on plant
    and machinery. Writeoff
    Rs.5000 from preliminary expenses. The director
    recommended that Rs 25000 be transferrd to general reserve and a final dividend
    of 5% be paid on equity shares. Rs. 10000 have to be added to sinking fund besides
    the interest earned.
    From the following trial balance, prepare final accounts
    Stock (1.1.93)
    Rs. 60000 Sundry creditors
    Purchases
    Wages
    Electric power
    Manufacturing expenses

    320000
    90000
    15000
    35000

    Carriage outward
    Carriage inward
    Salaries
    Insurance

    20000
    10000
    60000
    10000

    Sundry debtors
    Bank balance
    Sinking fund investment
    (4% securities of Rs.
    100000)
    Debenture interest
    Land & building
    Plant & machinery
    Director fee
    Audit fee
    Income tax paid
    Interim dividend paid
    Preliminary expenses
    Goodwill
    Total

    90000
    6000
    90000
    6000
    300000
    450000
    10000
    6000
    41000
    36000
    20000
    140000
    1815000

    Provision for income tax


    Profit and loss account
    General reserve
    Share capital
    (50000 Share @ 10 each)
    6% debenture
    Salaries and wages unpaid
    Sales
    Interest received on Govt;
    securities
    Sinking fund

    Total

    Rs.
    45000
    45000
    38000
    100000
    500000
    200000
    250000
    770000
    2000
    90000

    18150
    00

    The closing stock on 31st December 1993 was Rs. 58000. There was no further
    liability for income tax except for 1993 for which a provision of Rs. 50000 should be
    made. Depreciation is to be provided @ 2% on land and building and 10% on plant
    and machinery. Writeoff
    Rs.5000 from preliminary expenses. The director
    recommended that Rs 25000 be transferrd to general reserve and a final dividend
    of 5% be paid on equity shares. Rs. 10000 have to be added to sinking fund besides
    the interest earned.

    You might also like