Question
Fill in the missing figures in the following:
✓
Answer
Working Notes:
- Missing figure of Closing stock will be the balancing figure of Cr. side of Trading A/c. It will be taken to the Assets side of Balance Sheet.
- Total of Cr. side of Trading A/c will be put on the Dr. side and balancing figure will be Gross profit.
- Figure of New Provision will be taken from Assets side of Balance Sheet. It will be shown as deduction on Cr. side of P & L A/c.
- Total of Cr. side of P & L A/c will be put on the Dr. side and blancing figure will be Net Profit. It will be added to capital on the Liabilites side.
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