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The document presents a balance sheet for ABC Ltd as of March 31, 2012, detailing assets and liabilities, including capital contributions and various accounts payable. It outlines transactions affecting assets, liabilities, and equity, such as investments, loans, purchases, sales, and payments. The balance sheet totals assets and liabilities at 1,016,000.00 Rs each, indicating a balanced financial position.

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shahrekha608
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10 views11 pages

Sums

The document presents a balance sheet for ABC Ltd as of March 31, 2012, detailing assets and liabilities, including capital contributions and various accounts payable. It outlines transactions affecting assets, liabilities, and equity, such as investments, loans, purchases, sales, and payments. The balance sheet totals assets and liabilities at 1,016,000.00 Rs each, indicating a balanced financial position.

Uploaded by

shahrekha608
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Liabilities

Capital:
Opening Balance
Profit and Loss A/c
Capital Introduced
-Drawings

Liabilities:
O/S Salary
Creditors/Ac Payables
Loan from bank of India
In the books of ABC ltd
Balance Sheet As on 31/03/2012
Amount Amount Asset Amount Amount
Assets:
400,000.00 Furniture 160,000.00
350,000.00 Computer 86,000.00
180,000.00 Building 488,000.00
-219,000.00 734,000.00
711,000.00

Debtors/A/c Receivables 60,000.00


Prepaid Insurance Expenses 25,000.00
Bank 7,000.00
Investment 150,000.00
Closing Stock 40,000.00
10,000.00 282,000.00
45,000.00
250,000.00
305,000.00

1,016,000.00 1,016,000.00
Balance Shee
Liabilities Rs

Capital
Shyam 100,000.00
Murlidhar 200,000.00

Profit and Loss A/c 30,000.00

Sundry Creditors
SSK and Associates 47,000.00
Less paid from Bank -47,000.00
Balance Sheet as on 1st January 2012
Amount Rs Asset Rs Amount Rs

Shop Premises 200,000.00


100,000.00
200,000.00 Bank 100,000.00
Less: Purchase of Stores -85,000.00
and Stationary
30,000.00 Add: Cheque Collection 45,000.00
Add: Cheque Collection 15,000.00
Less: Paid to creditors -47,000.00 28,000.00

- Inventory 85,000.00
Less: Cost of goods sold -60,000.00
Add: Purchase 47,000.00 72,000.00

Sundry Debtors 45,000.00


Less : Cheque collection -15,000.00 30,000.00

330,000.00 330,000.00
Determi
ne
whether
assets
/liabilitie
s or
equity
will be
effected
in the
following
:

Increase/Decrease
Particula Assets LiabilitiesEquity
rs
■ On
1.3.2012
, Parvati
invested
Rs
70,000
in her
business
, which
were
deposite
d in
bank
current
account.

Account
affected
■ On
3.3.2012
, Parvati
took a
loan of
Rs
30,000
from
Bank of
India @
20% p.a.

Account
affected
■ On
5.3.2012
, Parvati
bought
furniture
for Rs
25,000
and
compute
r for Rs
20000.0
0

Account
affected
■ On
9.3.2012
, Parvati
purchase
d goods
worth Rs
30,000.

Account
affected
■ On
15.3.201
2, all
goods
were
sold at
Rs
60,000,
of which
Rs
20,000
were on
credit

Account
affected
■ On
28.3.201
2, paid
salary of
Rs
15,000
and
telephon
e bill of
Rs
1,500.

Account
affected
■ On
29.3.201
2,
Parvati
paid Rs
15,000
for her
son’s
tuition
fees.

Account
affected
■ On
31.3.201
2,
Parvati
paid
interest
to bank.
Account
affected

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