Particulars
|
1.04.06
|
31.03.07
|
Cash in hand
Bank balance
Stock in trade
Debtors
Creditors
Machinery
Furniture
|
1,500
1,200(Dr.)
4,000
3,400
2,400
6,000
1,200
|
1,600
1,800(Cr.)
4,650
3,800
3,600
8,000
1,600
|
Liability
|
1-4-06
|
31-3-07
|
Assets
|
1-4-06
|
31-3-07
|
Capital
(Bal. Fig.)
|
14900
|
14250
|
Cash in hand
|
1500
|
1600
|
Bank Overdraft
|
-
|
1800
|
Cash in bank
|
1200
|
-
|
Creditors
|
2400
|
3600
|
Stock in trade
|
4000
|
4650
|
|
|
|
Debtors
|
3400
|
3800
|
|
|
|
Machinery
|
6000
|
8000
|
|
|
|
Furniture
|
1200
|
1600
|
|
17300
|
19650
|
|
17300
|
19650
|
Particulars
|
Rs.
|
Rs.
|
Capital at the end of the
year
|
|
14250
|
Add: Drawings:
|
|
|
Amount withdrawn for Household
use
Rs. 75 × 12 months
|
|
900
|
|
|
15150
|
Less: Capital at the
beginning of the year
|
|
-14900
|
Trading Profit
|
|
250
|
Less: Depreciation:
|
|
|
On Plant and Machinery
On Opening Machinery:
6000 × 15%
|
900
|
|
On Additional Machinery
2000 × 15% × 6 months
|
150
|
|
On Furniture
On opening Furniture
1200 × 12.5%
|
150
|
|
On Additional Machinery
400 × 12.5% × 6 months
|
25
|
-1225
|
|
|
-975
|
Less: Bad debts
|
|
-100
|
|
|
-1075
|
Less: R.D.D. @ 5% on Debtors
(3800 – 100) × 5%
|
|
-185
|
|
|
-1260
|
Less: Discount on Debtors @
2%
(3800 – 100 – 185) × 2%
|
70.30
|
-70
|
|
|
-1330
|
Less: Interest on Capital
On opening Capital
14900 × 5%
|
|
-745
|
|
|
-2075
|
Add: Interest on drawings
900 × 6% × 6 months
|
|
27
|
Net Loss
|
|
-2048
|