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Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date?
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Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to cre...
Opening Statement of Affairs as at 1st January 2001
- Assets:
- Stock: 20,000
- Bank Balance: 10,000
- Cash Balance: 2,000
- Trade Debtors: 7,000
- Total Assets: 39,000
- Liabilities:
- Trade Creditors: 13,500
- Total Liabilities: 13,500
- Net Worth (Capital): 25,500
Trading Profit and Loss Account for the Year Ended 31st December 2001
- Sales: 200,000
- Cost of Goods Sold:
- Opening Stock: 20,000
- Cash Purchases: 30,000
- Closing Stock: (40,000)
- Cost of Goods Sold Calculation:
- COGS = Opening Stock + Purchases - Closing Stock
- COGS = 20,000 + 30,000 - 40,000 = 10,000
- Gross Profit:
- Gross Profit = Sales - COGS = 200,000 - 10,000 = 190,000
- Expenses:
- Wages and Salaries: 4,000
- Rent: 2,000
- Transportation: 5,400
- Telephone Charges: 800
- Total Expenses: 12,200
- Net Profit:
- Net Profit = Gross Profit - Total Expenses = 190,000 - 12,200 = 177,800
Balance Sheet as at 31st December 2001
- Assets:
- Stock: 40,000
- Bank Balance: 20,000
- Cash Balance: 12,000
- Trade Debtors: (assumed unchanged) 7,000
- Total Assets: 79,000
- Liabilities:
- Trade Creditors: 27,000
- Total Liabilities: 27,000
- Net Worth (Capital):
- Capital = Total Assets - Total Liabilities = 79,000 - 27,000 = 52,000
- Retained Earnings:
- Retained Earnings = Opening Capital + Net Profit = 25,500 + 177,800 = 203,300
This summarized financial statement provides a clear view of the company's financial position at the start and end of the period, highlighting profitability and changes in assets and liabilities.
- Assets:
- Stock: 20,000
- Bank Balance: 10,000
- Cash Balance: 2,000
- Trade Debtors: 7,000
- Total Assets: 39,000
- Liabilities:
- Trade Creditors: 13,500
- Total Liabilities: 13,500
- Net Worth (Capital): 25,500
Trading Profit and Loss Account for the Year Ended 31st December 2001
- Sales: 200,000
- Cost of Goods Sold:
- Opening Stock: 20,000
- Cash Purchases: 30,000
- Closing Stock: (40,000)
- Cost of Goods Sold Calculation:
- COGS = Opening Stock + Purchases - Closing Stock
- COGS = 20,000 + 30,000 - 40,000 = 10,000
- Gross Profit:
- Gross Profit = Sales - COGS = 200,000 - 10,000 = 190,000
- Expenses:
- Wages and Salaries: 4,000
- Rent: 2,000
- Transportation: 5,400
- Telephone Charges: 800
- Total Expenses: 12,200
- Net Profit:
- Net Profit = Gross Profit - Total Expenses = 190,000 - 12,200 = 177,800
Balance Sheet as at 31st December 2001
- Assets:
- Stock: 40,000
- Bank Balance: 20,000
- Cash Balance: 12,000
- Trade Debtors: (assumed unchanged) 7,000
- Total Assets: 79,000
- Liabilities:
- Trade Creditors: 27,000
- Total Liabilities: 27,000
- Net Worth (Capital):
- Capital = Total Assets - Total Liabilities = 79,000 - 27,000 = 52,000
- Retained Earnings:
- Retained Earnings = Opening Capital + Net Profit = 25,500 + 177,800 = 203,300
This summarized financial statement provides a clear view of the company's financial position at the start and end of the period, highlighting profitability and changes in assets and liabilities.
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Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date?
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Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date?.
Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date?.
Solutions for Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? defined & explained in the simplest way possible. Besides giving the explanation of
Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date?, a detailed solution for Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? has been provided alongside types of Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? theory, EduRev gives you an
ample number of questions to practice Sales 200000. Cash banked 130000. Cheque issued . Cheque issued to creditors 105000. Cash purchases 30000. Wages and salaries 4000. Rent paid by cash 2000. Transportation paid by cash 5400. Telephone charges paid by cash. 800. Additional information: 1. Assets and liabilities at the beginning and end of the period are as follows: stock : 1/1/2001. 20000 31/12/2002 40000. Bank balance: 1/1/2001. 10000. 31/12/2001. 20000. Cash balance:1/1/2001. 2000 . 31/1/2001. 12000. Trade debtors: 1/1/2001. 7000 . 31/12/2001. Trade creditors: 1/1/2001 . 13500. 31/12/2001. 27000. Prepare the following. A. Opening statement of affairs as at 1st January 2001. B. Trading profit and loss account for the year ended 31st December 2001. C. Balance sheet as at that date? tests, examples and also practice UPSC tests.
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