Cargo paid on the machinery

Assignment Help Accounting Basics

Reference no: EM13904091

The accompanying is the Trial Balance of X on 31 March 2009:

Modification:

(i) Closing Stock Rs. 2,25,000.

(ii) Machinery worth Rs. 45,000 obtained on 1-10-08 was indicated as Purchases. Cargo paid on the Machinery was Rs. 5,000, which is incorporated in Freight on Purchases.

(iii)Commission is payable at 2½% on Sales.

(iv) Investments were sold at 10% benefit, yet the whole deals continues have been taken as Sales.

(v) Write off Bad Debts Rs. 10,000 and make a procurement for Doubtful Debts at 5% of Debtors. (vi) Depreciate Building by 2½% p.a. furthermore, Machinery and Furniture at 10% p.a. Get ready Trading and Profit and Loss Account for the year finishing 31 March 2009 and a Balance Sheet as on that dat

Reference no: EM13904091

Questions Cloud

Accompanying particulars set up : From the accompanying particulars set up the Balance Sheet of A Ltd.:

How do i calculate the amount of sales tax : How do I calculate the amount of sales tax that is included in total receipts?

Set up a balance sheet : From the accompanying particulars identifying with AB Co. set up a Balance Sheet as on 31.12.2009:

How do you record money from an insurance claim : How do you record money from an insurance claim involving property?

Cargo paid on the machinery : Machinery worth Rs. 45,000 obtained on 1-10-08 was indicated as Purchases. Cargo paid on the Machinery was Rs. 5,000, which is incorporated in Freight on Purchases.

What is the difference between net cash flow and net income : What is the difference between net cash flow and net income?

Why would prepaid insurance have a credit balance : Why would Prepaid Insurance have a credit balance?

Why is the accuracy of inventory valuation so important : Why is the accuracy of inventory valuation so important?

Depreciation on motor vehicles : Depreciation on Motor Vehicles @ half ,editors incorporate a case for harms of Rs. 30,000 and which was settled by paying Rs. 20,000.

Reviews

Write a Review

Required(*) Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages