3. Following is the Trial Balance as at 31.12.20
Particulars
Dr.
30,000
10,000
Opening Stock
Drawings and Capital
Purchases and Sales (Adjusted)
Wages
Salaries
1,50,000
2,75,000
6,000
20,000
5,000
Import Duty
Carriage Inwards
Insurance
4,000
5,000
Advertisement
10,000
Furniture
40,000
Bad Debts
5,000
Book Debts
50,000
30,000
Creditors
Reserve for Bad Debts
2,000
Loose Tools
25,000
Rent
5,000
8,000
Discount Received
Depreciation of Furniture
5,000
5,000
Depreciation of Loose Tools Closing Stock
Outstanding Import Duty
30,000
10,000
Premises
70,000
Commission Received
10,000
Cash Balance
20,000
Cash at Bank
5,000
65,000
Adjustments:
(1) A customer of 5,000 is also a creditor of 10,000 and create R.B.D.@ 5% pa after writing off further bad debt of 5,000.
(u) Depreciate Furniture and Loose Tools @ 25% and by 10,000 respectively and appreciate Premises by 10,000.
(iii) Annual Payment are-Salaries 25,000 and Rent 10,000.
(iv) Unexpired Import Duty and Insurance are 1,000 each. (v) Sale of Furniture (B.V. NIL) for 3,000 to be accounted for as omitted in the books.
(vi) Withdrawn from Bank by the owner for domestic use of 15,000. Prepare the Final Accounts applying Marshalling of Balance Sheet as at 31.12.20
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