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Des at March 31, 2015 the following balances have been extrated from the boof the cam Chartered Accountants Recreation Club and you are askedpere Trading Account for ascertain gross profit derived from rumwant and mom and come and Expenditure Account foryear ended March 31, 2015 Gada Balance Shrel as at that date.Ord BalmesRecepts Dining Room7.30Repairs and RenewalFuel and Lightd's Recipes10.470 Sunday ReceptsInterest on Found Deposit5.400 Sundry Credits5280 Grant from Institutepermanent560 Income and Exp. AlcSundry Debors1.53.848On March 31.2014 stock of restaurant consisted of Rs. 900 and Rs.respectively. Provide depreciations Rs 60 on fixtures and fittings, Rs. 390 on biltable and Rs 500 om furnitureAns: Excess of income over expenditure-Rs. 2,950: Total of Balance Sheet Rs. 51.700 |
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Answer» Turnover for the same period was Rs. 4,00,000. During the YEAR ending 31st MARCH 2020 they had earned net profit of Rs. 6,86,000 before adjusting the above mentioned provisions of the deed. . |
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