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Category > Management Posted 03 Feb 2018 My Price 6.00

Modern Manufacturing Company Ltd

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.)

     
       

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.

 

 


Answers

(5)
Status NEW Posted 03 Feb 2018 10:02 PM My Price 6.00

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