Day 1 – Final Account
|
Debtors Balance |
|
|
|
Sundry Debtors |
Sundry Debtors |
1,500 |
|
Stock |
Stock in hand |
5,000 |
|
Land |
Fixed Assets |
10,000 |
|
Cash at bank |
Bank A/C |
4,000 |
|
Wages |
Direct Expense |
3,000 |
|
Bill Receivable |
Current Assets |
2,000 |
|
Interest |
Indirect Expense |
200 |
|
Bad Debts |
Indirect Expense |
500 |
|
Repair |
Indirect Expense |
300 |
|
Furniture |
Fixed Assets |
1,500 |
|
Depreciation |
Indirect Expense |
1,000 |
|
Rent |
Indirect Expense |
800 |
|
Cash in Hand |
Cash in Hand (Page up) |
1,600 |
|
Salary |
Indirect Expense |
2,000 |
|
Drawing |
Capital A/C |
2,000 |
|
Purchase |
Purchase |
10,000 |
|
Office Expenses |
Indirect Expense |
2,500 |
|
Plant & Machinery |
Fixed Assets |
5,700 |
|
|
|
Total 53,600 |
|
Creditor Balance |
|
|
|
Capital |
Capital |
25,000 |
|
Interest2 |
Indirect Income |
600 |
|
Sundry Creditors |
Sundry Creditors |
7,000 |
|
Sales |
Sales a/c |
17,000 |
|
Bill Payable |
Current Liabilities |
4,000 |
|
|
|
Total 53,600 |
Closing stock 10,000
Answer – 9600, 36,300 (Profit &Loss , Balance sheet)
