Given is the summarized statement of cash pertaining to a… – BBS Taxation in Nepal 2079 Solved

Given is the summarized statement of cash pertaining to a lawyer for the previous income year.

Receipts	Amount	Payments	Amount
To Balance b/d- Cash in hand	50,000	By Office expenses	80,000
Cash at bank	250,000	By Computer Purchased (Ashwin)	150,000
To Legal fees	695,000	By Telephone & Communication expenses	30,000
To Gifts and present from clients	350,000	By Salary to office assistants	180,000
To consultation fees after TDS	85,000	By Life insurance premium of lawyer	35,000
To Agriculture income	40,000	By Pollution control cost	40,000
To interest or local money transaction	120,000	By Office rent	150,000
To Causal income received	30,000	By Water Electricity expenses	30,000
To Other professional incomes	75,000	By Hospitality and entertainment expenses	20,000
To sales of old paper and journal	5,000	By Heal insurance premium (own)	15,000
		By Donation to remote area school	50,000
		By printing & stationary expenses	30,000
		By Balance C/d	890,000
Total	1,700,000	Total	1,700,000

Further information :

a. Water / electricity expenses are used equality for professional and personal purpose .

b. Office expenses include Rs 10,000 paid to domestic helper .

Given is the summarized statement of cash pertaining to a lawyer for the previous income year. Receipts Amount Payments Amount To Balance b/d- Cash…