The following receipts and payments accounts of an auditor… – BBS Taxation in Nepal 2081 Solved

Receipts	Rs	Payments	Rs
To Balance b/d	160,000	By Office salaries	360,000
To Audit fees	890,000	By Office expenses	90,000
To Consultancy fees (net)	510,000	By Office rent	120,000
To Commission relating to audit work	50,000	By Purchase of office equipment (Bhadra)	240,000
To Interest on fixed deposit from NBL (net)	10,000	By Life insurance premium (self)	35,000
To Sale of old newspaper and journals	4,000	By Purchase of newspaper & journals	8,000
To Gift and presents from clients	30,000	By Income tax paid in advance	10,000
To Interest on govt. securities (net)	15,000	By Donation to tax exempt organization	140,000
To Dividend received (net)	19,000	By Purchase of stationery	25,000
To Lottery income	20,000	By Travelling expenses	30,000
		By Miscellaneous expenses	20,000
		By Domestic expenses	80,000
		By Car expenses	24,000
		By Balance c/d	526,000
Total	1,708,000	Total	1,708,000

20 percent of car expenses were paid for personal purpose.
Office salaries include Rs. 10,000 paid to domestic servant.
40 percent of donation was given to an organization which was not approved by IRD.
Half of domestic expenses were spent for general expenses of the office.
Allowable depreciation for the year was not shown in account.

The following receipts and payments accounts of an auditor are given below: Receipts Rs Payments Rs To Balance b/d 160,000 By Office salaries 360,000…