question archive On 31st March, 2020 the Trial Balance of Mr White were as follows: Trial Balance as on 31st March, 2020 Particulars Dr
On 31st March, 2020 the Trial Balance of Mr White were as follows: Trial Balance as on 31st March, 2020 Particulars Dr
Subject:BusinessPrice: Bought3
On 31st March, 2020 the Trial Balance of Mr White were as follows: Trial Balance as on 31st March, 2020 Particulars Dr. Particulars Stock on 1st April 2019 Raw Materials 21,000 Sundry Creditors Work in Progress 9,500 Bills Payable Finished goods 15,500 Sale of Scrap Sundry Debtors 24,000 Commission Received Carriage on Purchases 1,500 Provision for doubtful debts Bills Receivable 15,000 Capital Account Wages 13,000 Sales Salaries 10,000 Bank Overdraft Telephone Postage etc 1,000 Repairs to Office Furniture 350 Cash at Bank 17,000 Office Furniture 10,000 Repairs to Plant 1,100 Purchases 85,000 Plant and Machinery 70,000 1,00,000 1,67,200 8,500 7.66 PRINCIPLES AND PRACTICE OF ACCOUNTING Rent 6,000 Lighting 1.350 General Expenses 1,500 3,02,800 3,02,800 The following additional information is available: Stocks on 314 March, 2020 were: Raw Materials 216,200 Finished goods 118,100 Semi-finished goods 7,800 Salaries and wages unpaid for March 2020 were respectively, 2 900 and ® 2,000 Machinery is to be depreciated by 10% and office furniture by 71/2 % Provision for doubtful debts is to be maintained @ 1% of sales Office premises occupy 1/4 of total area Lighting is to be charged as to 2/3 to factory and 1/3 to office. Prepare the Manufacturing Account Trading Account, Profit and Loss Account and the Balance Sheet relating to 31st March 2020
