Answer to Question #235986 in Economics for reshma shaik

Question

From the following ledger balances taken from the Trial Balance of Venkatesh, prepare Final

accounts for the year 2007.

Credit Balances : Capital Rs. 360000, Creditors Rs. 87,200 ; Bills Payable Rs. 25270 ; Sales

Rs.789,820 ; Loans Rs. 1,20,000.

Debit Balances : Debtors Rs. 38850 ; Salaries Rs. 40,000 ; Discount Rs. 10,000; Postage

Rs.2,730 ; Bad Debts Rs. 2,870 ; Interest Rs. 12,950 ; Insurance Rs. 4,170 ; Machinery

Rs.1,00,000 ; Opening stock Rs. 99,450 ; Purchases Rs. 6,20,920 ; Wages Rs. 43,000 ; Bulidings

Rs. 2,37,800 ; Fixtures Fittings Rs. 1,69,550.

(Ans ; G.P. 26,450 ; Net Loss Rs. 46,270 ; B. S : Rs. 5,46,200 )

Answer 1

Dear reshma shaik, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order