Customer Service Chat
Get quote & make Payment
accounting for incomplete records , Financial Accounting
Mr. Surya does not keep a systematic record of his transactions. He is able to give you the following information regarding his assets and liabilities.
Dec. 31 Dec. 31
Creditors for goods 21,000 19,000
Creditors for expenses 1,500 1,800
Bills payable 8,700 11,500
Sundry debtors 35,000 34,000
Stock (at cost) 28,000 25,000
Furniture and fittings 10,000 12,000
Cash 5,100 ?
The following additional information is also available relating to 2001.
Bills payable issued 20,800
Cash sales 15,000
Payment to creditors 31,000
Expenses paid 6,600
Bad debts, during the year were Rs. 900. As regards sales, Surya tells you that he always sells goods at cost plus 25%. Furniture and Fittings is to be depreciated at 10% of the value in the beginning of the year.
Prepare Surya''s Trading and Profit and Loss Account for 2001 and his balance sheet as at the end of that year.
Posted Date: 11/14/2012 1:15:28 PM | Location : USA
Ask an Expert
accounting for incomplete records , Assignment Help, Ask Question on accounting for incomplete records , Get Answer, Expert's Help, accounting for incomplete records Discussions
Write discussion on accounting for incomplete records
Your posts are moderated
Write your message here..
Calculate the standard deviation of ibm and att, Question: ...
Question: State of the Economy Probability of state occurring IBM Return (%) ATT Return (%)
Inventory management, Most firms build and keep inventories in the course o...
Most firms build and keep inventories in the course of doing business. Manufacturing firms hold raw material, finished goods and spares and work in process in inventories. Financia
Cashflows from operating activities-group activities, Cashflows from operat...
Cashflows from operating activities operating activities are the principle revenue generating activities of the business and examples of such cashflows include: Cash re
Explain depreciate non-current assets, Question: Lucy Kim is in the car...
Question: Lucy Kim is in the car hire business. The following information came from her Fixed Asset Register on 31 December 2009: On 31 March 2009, she sold the car wh
BUDGETING, In the context of the public sector, discuss incremental system...
In the context of the public sector, discuss incremental system of budgeting and evaluate their strengths and weaknesses
Pre-adjustment, security service= R38570 the annual security services contr...
security service= R38570 the annual security services contract has been taken out on 1 March 2012. The fee was increased by 10% from january 2013 and the fee has already been paid
Repayment of principal, a) Your company is planning to take $1,750,000 on a...
a) Your company is planning to take $1,750,000 on a 3-year, 10%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will sho
Prepare a statement to show the total production overheads, Aristo Ltd uses...
Aristo Ltd uses a system of absorption costing. The product passes through a machining department and an assembly department before it is completed. The assembly department is labo
Estimate the systematic risk of the new investment, Q. Estimate the systema...
Q. Estimate the systematic risk of the new investment? The beta of the comparator company will be utilized to estimate the systematic risk of the new investment. No un-gearing
Prepare a trial balance and income statement, Cleaning Co. began business o...
Cleaning Co. began business on March 1, 2011. The company provides specialized cleaning services to corporate clients. Listed below are the transactions entered into by Cleaning Co
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
IT Courses and Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.