Particulars | Amt. (Rs.) | Particulars | Amt. (Rs.) |
Purchases Patents Right Building | 98,000 4,000 1,00,000 | Capital: Ashok Tanaji | 30,000 40,000 |
Stock (1.04.2006) | 15,000 | Provident Fund | 7,000 |
Printing and Stationery | 1,750 | Creditors | 45,000 |
Sundry Debtors Wages and Salaries | 35,000 11,000 | 10% Bank Loan taken on 1st April 2006 | 12,000 |
Audit Fees | 700 | Sales | 1,58,000 |
Sundry Expenses | 3,500 | Reserve for Doubtful Debts | 250 |
Furniture | 8,000 | Purchase Returns | 3,500 |
Investment | 10,000 | ||
Cash | 4,000 | ||
Provident Fund Contribution | 800 | ||
Carriage Inwards | 1,300 | ||
Travelling Expenses | 2,700 | ||
2,95,750 | 2,95,750 |
Particulars | Rs. | Rs. | Particulars | Rs. | Rs. |
To Opening Stock | 15,000 | By Sales | 1,58,000 | ||
To Purchases Less: Returns | 98,000 3,500 | 94,500 | |||
To Wages & Salaries | 11,000 | ||||
To Carriage Inwards | 1,300 | ||||
To Gross Profit c/d | 51,200 | By Closing Stock | 15,000 | ||
1,73,000 | 1,73,000 |
Particulars | Rs. | Rs. | Particulars | Rs. | Rs. |
To Printing & Stationery | 1,750 | To Gross Profit b/d | 51,200 | ||
Less: Stock | 500 | 1,250 | |||
To Audit Fees | 700 | ||||
To Sundry Expenses | 3,500 | ||||
To Provident Fund Contribution | 800 | ||||
To Travelling Expenses | 2,700 | ||||
To Bad Debts | - | ||||
Add: New Bad debts | - | ||||
Add: New R.D.D. | 1,750 | ||||
Less: Old R.D.D. | 1,750 250 | 1,500 | |||
To Depreciation on Patent Right Building | 400 5,000 | 5,400 | |||
To Interest on Capital Ashok Tanaji | 1,500 2,000 | 3,500 | |||
To Interest on loan | 1,200 | ||||
To Net Profit Ashok (2/5) Tanaji (3/5) | 12260 18390 | 30650 | |||
51,200 | 51,200 |
Particulars | Ashok | Tanaji | Particulars | Ashok | Tanaji |
By Balance b/d | 30,000 | 40,000 | |||
By Interest on Capital | 1,500 | 2,000 | |||
To Balance c/d | 43,760 | 60,390 | By Net Profit | 12,260 | 18,390 |
43,760 | 60,390 | 43,760 | 60,390 |
Liabilities | Rs. | Rs. | Assets | Rs. | Rs. |
Partners Capital Ashok Tanaji | 43,760 60,390 | 1,04,150 | Patents Right (-) 10% Depreciation | 4,000 400 | 3,600 |
Building Less: 5% Depreciation | 1,00,000 5,000 | 95,000 | |||
Provident Fund Creditors | 7,000 45,000 | Sundry Debtors Less: New R.D.D. | 35,000 1,750 | 33,250 | |
Bank Loan (10%) Add: Interest | 12,000 1,200 | 13,200 | Furniture Investment | 8,000 10,000 | |
Cash | 4,000 | ||||
Closing Stock | 15,000 | ||||
Stock of Stationery | 500 | ||||
1,69,350 | 1,69,350 |