Interested to Buy Any Domain ? << Click Here >> for more details...
Manoj & Mahavir joined a firm drawing salary of Rs 25000 per
month.After serving 3 yrs ,they started business of their
own in partnership,contributing Rs200000(expected life 10
yrs,bought spare parts worth Rs 33000 from Kundu on
credit.Office supplies were purchased for cash.Initially
they were very busy in conducting their business operations
but by the end of the 1st year,31/12/2005 they were
disappointed when they found their bank balances.Following
is the summary of their bank statement.
Receipts: Share Capital Rs 250000
Collections from Customers 412000
Payments: Equipment 200000
Salaries of Assistants 88000
Rent advance for 2 yrs 96000
On-year ins. Policy on equipment 12000
Office stationery 27000
Payment to Kundu 29000
Withdrawals of Manoj 90000
Withdrawals of Mahavir 90000
Closing balance c/d 30000
-----------
Total : 6,62,000
Still amount receivable from customers for services to them
amounted to Rs 30,000 & closing balance of office stationery
is Rs2000,spare parts Rs2600 were utilised by the end of the
year .Prepare trial balance with the available information
and show total.
Also what is the net profit.
- 3 Answers
- 5539 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / arju
Why is no one replying???
What happened Mods? Dont u like me to post question in this
forum? I need ur help guys. Pls forgive me if i have made
any mistakes here in the past. I am a junior who is just
trying to learn accountancy.
:-o :-s
| Is This Answer Correct ? | 0 Yes | 0 No |
how do you calculate depreciation on land?
1.Is deprciation a source of funds? How is it treated in calculatiing fund from operations? 2. What is standard costing? Ple. give its advantages. 3. What do you mean by solvency ratios. List two types of solvency ratios which are used by variuos firms. 4. What is objectives of Job costing? 5. Explain Brifly two capital budgeting technique using discounted cash flow criteria.
how do we pass the Entry for Reserves? and What is the Meaning of Surplus?
hi all I am new here, I would like to ask one question. when a company (MNC) is following more than one accounting principle then what are the areas we need to change in sap.
What is Prorate Expenses in Accounts Payable
sir, i m working in an ngo as accountant but new. pleas clear my doubt in tally. suppose 'a' salary is 5000. he taken 3000 advance from salary and not returned. i paid a cheque next month rest 2000. 'b' salary is 10000, taken 5000 advance from salary and returned so i paid him 10000 total salary. what all to do in tally. is the following procedure is ok or not?
What is the difference of cost accounting and financial accounting?
1.recivable and payble 2.pf,tds,esi
What is Suspense Account?
Define partitioning in accounting?
i had taken one year gap in completing my graduation bcom should it be considered as backlogs i dont have any kt or anything else i have passed all exam in one trial
Examples each for golden rules of accounting
31 Answers ABC, Accenture, BSNL, DELL, General Insurance Corporation, Genpact, IBM, Microsoft, Wipro,
Audit 
