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Home / Doubts and Solutions/CBSE/Class 12 Commerce/Accountancy

Q1A B and C were partners sharing profits in the ratio of their Capital contribution which were Rs 6,00,000; Rs 4,00,000 and it 5,00,000 respectively. Their books are closed on 31s March every year. A  on 24th Augus: 2020. Under the partners p de deceased partner is entitled to his share of profit/loss to the date of  based on the average profits of preceding three year Profits were 2017 R$15,000,2018 Rs 25,000 (Loss) 2019 Rs

Asked by kd3104149 8th February 2023, 3:27 PM
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1. Prepare Trading and Profit & Loss A/c for the year ended 31st December 2012 and a balance Sheet as on that date from the following Trial Balance of Mr. Arun. Particulars Rs. Particulars Rs. Drawings Goodwill Buildings Machinery Bills receivable Opening stock Purchases Wages Carriage outwards Carriage inwards Salaries Rent Discount Repairs Bank Cash Debtors Bad debts Sales returns Furniture Advertisements General expenses 45,000 90,000 60,000 40,000 6,000 40,000 51,000 26,000 500 1,000 35,000 3,000 1,100 2,300 25,000 1,600 45,000 1,200 2,000 6,000 3,500 450 Capital Bills payable Creditors Purchase returns Sales 1,60,000 35,000 70,000 2,650 2,18,000 4,85,650 4,85,650 Adjustments: (i) Closing stock was Rs.35000. (ii) Depreciate Machinery and Furniture by 10%. (iii) Outstanding wages Rs,1500. (iv) Prepaid advertisement Rs.500. (v) Create 5% on debtors for bad debts as provision
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