Wages paid for its installation ₹ 10,000 have been debited to Wages Account. (ii) A new machine was installed during the year costing ₹ 2,00,000 but it was not recorded in the books. You are to prepare Trading and Profit & Loss Account for the year ended 31st March, 2017 and a Balance Sheet as at that date. (V) Write off 1/5th of advertisement expenses. Barua, a temporary employee, stands debited to his personal account and it is to be corrected. (III) Create a provision of 2% for Discount on Debtors. (II) Depreciation is to be charged on Plant and Machinery at 5% and Furniture at 6%. The following additional information is available:. Make a provision for Doubtful Debts at 5% on Debtors. Goods worth ₹ 15,000 were sold and dispatched on 27th March but no entry was passed to this effect.ĥ. Salaries for the month of February and March 2014 are outstanding.Ĥ. Depreciate Plant and Machinery by 10% p.a. Plant and Machinery includes a new machinery purchased on 1st October, 2013 for ₹ 2,00,000.Ģ.
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