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From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account?
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From the following trial balance of a firm of p and q as at 31st March...
Trial Balance of P and Q as at 31st March 2018
- PS Capital Account
- Dr. Rs. 70,000
Preparation of Final Accounts - PS Capital Account
PS Capital Account represents the owner's equity in the business. It reflects the amount of capital invested by the owner in the firm.
Steps to Prepare PS Capital Account:
- Start with the opening balance of PS Capital Account, which in this case is Rs. 70,000 on the credit side.
- Add any additional capital introduced by the owner during the year. This will increase the credit balance of the account.
- Deduct any drawings made by the owner during the year. This will reduce the credit balance of the account.
- Calculate the final balance of PS Capital Account, which represents the total capital of the owner in the firm as at 31st March 2018.
Final Balance of PS Capital Account:
Based on the information provided in the trial balance, the final balance of PS Capital Account as at 31st March 2018 will be Rs. 70,000. This amount represents the total capital invested by the owner in the firm.
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From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account?
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From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account?.
From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following trial balance of a firm of p and q as at 31st March 2018 prepare final accounts ps capital account?.
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