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Example 17

The document outlines financial particulars including assets, liabilities, and income statements for a business. It details adjustments made to various accounts such as plant and machinery, inventory, and expenses, leading to a comprehensive income statement for the year. Additionally, it presents a financial position statement, summarizing total assets and liabilities along with capital changes.

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moumnafatima03
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5 views14 pages

Example 17

The document outlines financial particulars including assets, liabilities, and income statements for a business. It details adjustments made to various accounts such as plant and machinery, inventory, and expenses, leading to a comprehensive income statement for the year. Additionally, it presents a financial position statement, summarizing total assets and liabilities along with capital changes.

Uploaded by

moumnafatima03
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Particulars/Description Un Adjusted Adjustments Adjusted

Debit Credit Debit Credit Debit Credit


Plant and Machinery at Cost 920,000
Accumulated depreciation 1/1/13 215,000
Inventory as 1 Jan 2013 39,000

Revenue 1,292,000

Purchases 550,000

Capital 173,000

Distribution expenses 116,000

Administrative Expenses 241,000

Bad debts 23,500

Loan (Interest @ 6%) 400,000

Trade Receivable 200,000

Trade Payables 73,500

Allowances for doubtful debts 6,000

Interest paid on loan 12,000

Bank 58,000
MR.------------------------------------------
Statement of Comprehensive Income
For the Year Ended:
Rs.
Net Sales/Revenue

Less: Cost of Sales

Gross Profit

Less: Administrative, Selling and Distribution Expenses

Administrative Expenses

Selling Expenses

Distribution Expenses

Operating Profit/(Loss)

Less: Finance Cost

Add: Other Income

Net Profit/ (Loss)


MR.-------------------------------------------
Statement of Financial Positons
As on:
ASSETS Rs. Rs.

NON CURRENT ASSETS

CURRENT ASSETS

TOTAL ASSETS
CAPITAL AND LIABILITIES

CAPITAL

Opening Capital

Add: Capital Added

Add: Net Profit/ Less: Net Loss

Less: Drawings

Closing Capital

LIABILITIES

NON CURRENT

CURRENT LIABILITIES

TOTAL CAPITAL AND LIABILITES

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