5. Sucheta & Gayatri are Partners sharing Profit and Losses in the ratio 3:2. From the following Trial Balance and additional information you are required to prepare Trading and Profit and Loss Account for the year year ended 31st March 2019 and Balance Sheet as on that date.
Link for Handwritten Solution: https://www.omtex.co.in/2020/08/hsc-f...
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XII Final Accounts, New Syllabus 2020 - 2021, Omtex Classes Amin Sir's Lecture,
PART 1 https://youtu.be/9O6WLB8lR_M
PART 2 https://youtu.be/WuB-KN_LQ60
PART 3 https://youtu.be/NA6h-0A4Vfs
PART 4 https://youtu.be/yVWpGkcpw9U
PART 5 https://youtu.be/jtqUdBWWlbU
Sum No. 2: https://youtu.be/aVvRSBt1pHk
Sum No. 3: https://youtu.be/_tujVQmCZ68
Sum No. 4: https://youtu.be/9oZzZu3wnWg
Sum No. 5: https://youtu.be/rRg1kOxIYEU
Sum No. 6: https://youtu.be/rRg1kOxIYEU
Adjustments :
1) Stock on 31st March 2019 was valued at Rs. 19,700.
2) Goods costing Rs. 3,000 distributed as free sample.
3) Motive Power includes Rs. 500 paid for deposit of Power Meter.
4) Depreciate Building @ 5%.
5) Write of Rs. 2,000 for Bad debts and maintain R.D.D at 3% on Debtors.
6) Bills Receivable included dishonoured of Bill of Rs. 4,000.
(Ans : G.P. Rs. 1,15,850, N.P. Rs. 97,365 Balance Sheet Total Rs. 2,80,815)
