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Following is the extract from a Trial Balance:  

Head of Accounts

Dr. Rs.

Cr. Rs. 

Machinery A/c

2,00,000

 

Provision for Depreciation on Machinery A/c

 

80,000

Depreciation on Machinery

20,000

 

Furniture A/c

24,000

 

Depreciation on Furniture

3,000

 

 

Show necessary extracts from the Profit and Loss Account and the balance Sheet.

Asked by Topperlearning User 4th July 2016, 8:47 AM
Answered by Expert
Answer:

 Profit and Loss A/c for the year ended 2014

 

 

 

 

Particulars

Rs. 

Particulars

Rs. 

To Depreciation

on Machinery 20,000

on Furniture 3,000

 

 

23,000

 

 

 

 

Liabilities

Rs. 

Assets

Rs. 

 

 

Machinery                                  2,00,000

 

 

 

Less: Provision for Depreciation       80,000

1,20,000

 

 

Furniture

 24,000

 

Answered by Expert 4th July 2016, 10:47 AM
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