Question
What are the Limitations of accounting?
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| Trial Balance of Shri Atul as on $31-3-2016$ | |||
| Debit Balance | Amt.(Rs.) | Credit Balance | Amt.(Rs.) |
| Opening stock | $22,500$ | Sales | $3,75,000$ |
| Bad debts reserve | $2400$ | Investments | $15,000$ |
| Interest on investments | $900$ | $25,500$ | |
| Purchase | $2,25,000$ | Capital | $42,000$ |
| Salary | $25,500$ | Bills receivable | $19,500$ |
| Carriage outward | $7350$ | Debtors | $75,000$ |
| Purchase returns | $13,050$ | Rent received | $1050$ |
| Motor car | $24,000$ | Interest on loan | $1080$ |
| Wages | $6750$ | Discount received | $2250$ |
| Telegram-post | $600$ | Carriage inward | $10,500$ |
| Drawings | $6000$ | ||
| Cash balance | $1500$ | ||
| Bills payables | $9750$ | ||
| Bank overdraft | $12,000$ | ||
| Sundry expenses | $13,050$ | ||
| Creditors | $45,000$ | ||
| Bad debts | $1950$ | ||
| Taxes Insurance | $6120$ | ||
| Bank loan | $36,000$ | ||
| Advertisement expenses | $7500$ | ||
| Land-Building | $45,000$ | ||
| $5,11,920$ | $5,66,880$ | ||
| Name of A/c | Amt.(Rs.) | Name of A/c | Amt.(Rs.) |
| Opening stock | $6,000$ | Capital | $61,000$ |
| Sales | $86,000$ | Discount allowed | $1,500$ |
| Sales return | $4,000$ | Commission received | $1,700$ |
| Wages- Salary | $31,000$ | Fixed assets | $61,000$ |
| Bills receivable | $8,000$ | Purchase | $46,000$ |
| Debtors | $10,000$ | Purchase return | $3,000$ |
| Rent | $4,000$ | Carriage inward | $1,600$ |
| Cash | $1,800$ | Carriage outward | $1,700$ |
| Creditors | $7,900$ | Bills payable | $13,000$ |
| Closing stock | $34,800$ | Interest paid | $3,000$ |
| $1,93,500$ | $1,93,500$ |