Partnership Final Accounts Illustrations No.10 Solution | Page No. 48

Chapter 1

Partnership Final Accounts

Books Page No.48

Illustrations No.10

10. From the following Trial Balance of Riddhi and Siddhi, you are required to prepare Trading and Profit and loss Account for the year ended 31st March 2019 and Balance Sheet as on that date after considering the additional information given below.

  Adjustments :
1) Closing stock ₹ 48,700. 
2) Outstanding Expenses - Wages ₹ 700 and Travelling Expenses ₹ 200. 
3) Depreciate Land and Building by 10% and Furniture by 5%. 
4) Insurance paid in advance ₹ 300. 
5) Goods of ₹ 3000 destroyed by fire and Insurance company rejected the claim fully.

ANS: 


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More 12 STD Partnership Final Accounts
Practical Problems link
 
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