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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The following is the trial balance on June 30, 2006 of the Modern Manufacturing Company Ltd.
|
Details |
Amount Rs |
Details |
Amount Rs |
|
Stock, 30th June, 2005 |
7,500 |
Dividend paid in, August, 2005 |
500 |
|
Sales |
35,000 |
Interim Dividend paid in Feb., 2006 |
400 |
|
Purchases |
24,500 |
Capital- 10,000 Rs 1 shares full Paid |
10,000 |
|
Productive wages |
5,000 |
Debtors |
3,750 |
|
Discounts (Dr.) |
700 |
Creditors |
1,750 |
|
Discounts (Cr.) |
500 |
Plant and machinery |
2,900 |
|
Salaries |
750 |
Cash in Bank |
1,620 |
|
Rent |
495 |
Reserve |
1,550 |
|
General expenses |
1,705 |
Loan to Managing Director |
325 |
|
Profit and loss account, |
1,503 |
Bad Debts |
158 |
|
30th June 2005 (Cr.) |
 |  |  |
| Â | Â | Â | Â |
Stock, on June 30, 2006 Rs 8,200. You are required to make out the trading account, and profit and loss account for the year ended June 30, 2006 and the balance sheet as on the date. You are also to make provision in respect of the following: (i) Depreciate machinery @ 10% per annum; (ii) Reserve 5% for discount on debtors; (iii) One month rent Rs 45 was due on 30th June; and (iv) Six month's insurance, included in general expenses, was unexpired at Rs 75.
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