Particulars

Rs.

Rs.

Particulars

Rs.

Rs.

To Opening Stock

88000

By Sales

308000
 
To Purchases

176000

By Closing Stock

70000
 
To wages

23500
 
To Gross Profit c/d

90500
 
378000

378000

Particulars

Rs.

Rs.

Particulars

Rs.

Rs.

To Bad debts

4000

By Gross Profit b/d

90500
 
Add: N.R.D.D.

4100

8100

By Interest on Debentures.

1600
 
To Salaries

18000
 
Add: Outstanding

3600

21600
 
To Office Expenses

8000
 
To Bank Charges

2600
 
To Electricity Charges

9900
 
To Depreciation on Machinery

6000
 
To Interest on Capital
 
Shailesh

9600
 
Nilesh

9600

19200
 
To Net Profit:
 
Shailesh Current A/c

8350
 
Nilesh Current A/c

8350

16700
 
92100

92100

Particulars

Shailesh

Nilesh

Particulars

Shailesh

Nilesh

To Drawings

3000

2000

By Balance b/d

5000

4000

To Balance c/d

19950

19950

By Interest on Capital

9600

9600

By Profit and Loss A/c

8350

8350
 
22950

21950

22950

21950

Liabilities

Rs.

Rs.

Assets

Rs.

Rs.

Partners Capital A/c

Land and Building

130000
 
Shailesh

120000

Machinery

90000
 
Nilesh

120000

240000

Less: Depreciation

6000

84000

Partners’ Current A/c

Furniture

43000
 
Shailesh

19950

Sundry Debtors

82000
 
Nilesh

19950

39900

Less: R.D.D.

4100

77900

Sundry Creditors

103000

8% Debentures

40000
 
Bank Overdraft

60000

Add: Interest

1600

41600
 
Outstanding Salaries

3600

Closing Stock

70000
 
446500

446500

how 1600 interest on debentures.
ReplyDeleteIt's given 8% on debentures hence we take out 8%on debentures that is ₹3200 and the date is give as 1st Oct hence we take it as ₹3200*6/12 and we get the answer /₹1600
Delete40000×6/16 × 8/100 =1600
DeleteIt is given in the adjustment read properly u cme to knw
DeleteHow the depreciation charge on machinery 60000
ReplyDeleteYeah right evwn i am not gettung this adjustments
DeleteMachinery is given 90000.But in adjustment it is given that machinery includes purchase of machinery for Rs.40000 on 1st January,2016.
DeleteSo,in the asset side you have to show,
Machinery=50000
(+) Purchase =40000
Therefore, 50000*10/100 + 40000*3/12*10/100.
* means
DeletePlease tell me in detail
DeleteYes I am also very confused please give me the proper answer in detail sir/ madam please as soon as possible
DeleteFirst u need to provide depreciation on 50000 for whole year and then you have to add depreciation on 40000 for 3 months on
DeleteWhy 50000 I didn't get it
Deletebecause in adjustment no.5 it is said that machinery includes purchase of 40000 it means 40000 is already included in 90000.So
Delete9000040000=50000. :)
How closing stock value is 70000
ReplyDelete100=?
Delete+20
120=84000
Cross multiple
84000×100÷120
Your ans 70000
Thnq
DeleteHow machinery adjustment done
ReplyDeleteIts 9000 only typing mistake....
DeleteMachinery is given 90000.But in adjustment it is given that machinery includes purchase of machinery for Rs.40000 on 1st January,2016.
DeleteSo,in the asset side you have to show,
Machinery=50000
(+) Purchase =40000
Therefore, 50000*10/100 + 40000*3/12*10/100.
Thx
DeleteIn the adjustment there is not shown about to take 10%
Deleteyup same question
DeleteWhat will be the second effect of this adjustment
DeleteHow outstanding salary come 3600
ReplyDeleteSalaries is given 18000 for only 10 months,but we want it for 12 months.
ReplyDeleteSo, 10 months = 18000
2 months = ?
By cross multiplication you will get Outstanding salaries 3600.
How I do cross multiply
DeleteHow say yaar how do cross multiply
Delete10 = 18000 then 2=? 2 step 18000×2= 360000 we get 3 step 36000 ÷10 = 3600 we get
DeleteYet i didnt understood
DeleteHOW IS INTEREST ON CAPITAL 9600 ,PLZ REPLY JALDI
ReplyDeleteCapital given in trail balance 120000 so 120000*8/100
DeleteYour answer 9600
Here amount is same in capital balance if amount is not same then which amount we have to take for get answer of int on capital
DeleteWill they mention name of partner???
Delete8% on debentures is 3440 how did you get 3200
ReplyDelete43000x8÷100
ReplyDeleteYou help me alot sir thank u very much sir..omtex classes is the best..
ReplyDeleteHow is closing stock 70000
ReplyDelete84000×100÷12=70000
DeleteCan you please tell me how u corss multiplied salaries
ReplyDeleteThank you so much sir for your precious help 🙏💖
ReplyDeleteHow is net profit camed
ReplyDeleteHow closing stock value is 70000
ReplyDeleteWhy didn't u shown all the adjustments of machinery...?
ReplyDeleteBestest classes 👍
ReplyDeleteTysm
ReplyDeletesalary
ReplyDeleteCalculation of salary
ReplyDeleteWhat about( 5 ) adjustment yaar
ReplyDeleteThere is not mentioned in the answer
Balance sheet didn't tally ,it should be check
ReplyDeleteHow come closing stock is 70000
ReplyDeleteSir closing stock 70000 kaise aaya
ReplyDelete90000×20/120=70000
Delete100 /120 na
DeleteClosing stock value how 70,000🤔
ReplyDeletePlzzz tell me sir
ReplyDeleteSir closing stock only market price is given and its 20% above then cost price &cost price is not given then how its co e 70,000
ReplyDeleteIf two value of closing stock are given , then we have to take the smallest one.. in question.. they have say that.. market price is 20% more than cost price .. hence cost price is minimum .. and take cost price is 100% and market price is 120% cross multiply it
Delete84000*100/120=70000
Thank you sir for your help
DeleteSir one and only last question I still not understood the 5th adjustement if machinery includes purchase of machinery for rupees 40,000 but no posting is done in yours sum
ReplyDeleteNot needed bro
DeleteDepriciation ka amount 6000 kiase aaya
ReplyDeletePlz explain me the last adjustment
ReplyDelete