Depreciation on motor vehicles

Reference no: EM13904087

From the accompanying trial offset and other data get ready benefit and misfortune represent the year finished 31 March 2009 and an accounting report on that date:

Debit Rs.

Credit Rs.

X’s Capital Account

10,00,000

Withdrawals of goods for personal use

1,000

Balance at bank

1,76,000

Motor Vehicle

1,50,000

Debtors and Creditors

2,94,000

2,30,000

Printing and stationery

6,600

Gross Profit

5,71,400

Provision for doubtful debts

5,000

Bad debts

11,400

Freehold premises

8,00,000

Repairs to Premises

47,600

General Reserve

2,00,000

Proprietor’s remuneration

20,000

Stock

2,80,000

Delivery expenses

99,000

Administrative expenses

1,31,400

Rates and taxes

15,000

Drawings

1,00,000

Unpaid wages

1,600

Last Year Profit and Loss Account Balance

1,24,000

21,32,000

Modification

(i) Depreciation on Motor Vehicles @ half

(ii) Creditors incorporate a case for harms of Rs. 30,000 and which was settled by paying Rs. 20,000.

(iii) Rates paid ahead of time Rs. 3,000.

(iv) Provision for terrible obligations is to be lessened to Rs. 3,500.

(v) The thing of repairs to premises incorporates Rs. 20,000 for securing of capital resource.

(vi) Stock of stationery close by on 31 March 2009 is Rs. 2,200.

Reference no: EM13904087

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