An unadjusted trial balance of a company are given below: Particulars Debit (Rs.) Credit (Rs.) Cash 300,000 Bank 250,000 Discount Allowed 7,000 Plant…
BBS Financial Accounting and Analysis · 2077 · Solved Question with Answer
An unadjusted trial balance of a company are given below:
| Particulars | Debit (Rs.) | Credit (Rs.) |
| Cash | 300,000 | |
| Bank | 250,000 | |
| Discount Allowed | 7,000 | |
| Plant and Machinery | 200,000 | |
| Purchases | 215,000 | |
| Debtors | 90,000 |
| Particulars | Debit (Rs.) | Credit (Rs.) |
| Interest on loan | 8,000 | |
| Salary | 120,000 | |
| Rent | 70,000 | |
| Capital | 400,000 | |
| Creditors | 50,000 | |
| Commission Received | 10,000 | |
| Sales | 700,000 | |
| 12% Bank Loan | 100,000 | |
| Total | 1,260,000 | 1,260,000 |
Adjustment:
a. Closing stock Rs. 40,000
b. Prepaid rent was Rs. 10,000
c. Outstanding interest on bank loan was Rs. 4,000
d. Depreciation on Plant and Machinery at 15% per annum
Required:
i. Adjusted Trail balance
ii. Statement of Profit and Loss a/c
iii. Statement of Financial Position
iv. Statement of Cash flow Statement