A and B are running a partnership firm. From the given Trial balance you are required to prepare a Trading and Profit & Loss A/c

1. A and B are running a partnership firm. From the given Trial balance you are required to prepare a Trading and Profit & Loss A/c for the year ended 31st March, 2013 and a Balance Sheet as on that date, after taking into consideration the additional information provided.


Adjustments

1) Closing stock was valued at Rs. 34,090.

2) Goods costing Rs. 3,456 were stolen.

3) Depreciate Machinery at 10% and Vehicle at 7.5%

4) Wages of Rs. 3,456 were outstanding.

5) Maintain RDD at 10% of Debtors.



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