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

35 comments:
how 1600 interest on debentures.
It'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
How the depreciation charge on machinery 60000
How closing stock value is 70000
Yeah right evwn i am not gettung this adjustments
How machinery adjustment done
Its 9000 only typing mistake....
100=?
+20
120=84000
Cross multiple
84000×100÷120
Your ans 70000
How outstanding salary come 3600
Salaries is given 18000 for only 10 months,but we want it for 12 months.
So, 10 months = 18000
2 months = ?
By cross multiplication you will get Outstanding salaries 3600.
Machinery is given 90000.But in adjustment it is given that machinery includes purchase of machinery for Rs.40000 on 1st January,2016.
So,in the asset side you have to show,
Machinery=50000
(+) Purchase =40000
Therefore, 50000*10/100 + 40000*3/12*10/100.
Machinery is given 90000.But in adjustment it is given that machinery includes purchase of machinery for Rs.40000 on 1st January,2016.
So,in the asset side you have to show,
Machinery=50000
(+) Purchase =40000
Therefore, 50000*10/100 + 40000*3/12*10/100.
HOW IS INTEREST ON CAPITAL 9600 ,PLZ REPLY JALDI
How I do cross multiply
How say yaar how do cross multiply
Capital given in trail balance 120000 so 120000*8/100
Your answer 9600
8% on debentures is 3440 how did you get 3200
43000x8÷100
Thx
You help me alot sir thank u very much sir..omtex classes is the best..
Thnq
* means
Please tell me in detail
In the adjustment there is not shown about to take 10%
How is closing stock 70000
40000×6/16 × 8/100 =1600
Can you please tell me how u corss multiplied salaries
yup same question
Thank you so much sir for your precious help 🙏💖
10 = 18000 then 2=? 2 step 18000×2= 360000 we get 3 step 36000 ÷10 = 3600 we get
How is net profit camed
Yes I am also very confused please give me the proper answer in detail sir/ madam please as soon as possible
Yet i didnt understood
84000×100÷12=70000
First u need to provide depreciation on 50000 for whole year and then you have to add depreciation on 40000 for 3 months on
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