Bank account profit and loss accunt

Thread Starter

No such information given, If it was an NPA , can interest be shown in asset (Till now I thought ,if NPA means , the interest should not be taken to anywhere except memorandum account)

Christeena Ambel

Yeah.. I have also marked the same..

Christeena Ambel

I have marked about 5-6 dbts in this qn.. Don't know even how the cost of assets came

Thread Starter

There was provisions on depreciation in trial balance (which means the depreciation are not reduced in assets before this year) so that provisions first cancelled( provisions for depreciation dr to asset) and the current year depreciation reduced Prov of dep for building dr- 8000 To building --------. 8000 After that dep dr- 50000 To buil- 50000 Finally buliding -650000-8000-50000= 592000 Likewise for furniture

Thread Starter

There was provisions on depreciation in trial balance (which means the depreciation are not reduced in assets before this year) so that provisions first cancelled( provisions for depreciation dr to asset) and the current year depreciation reduced Prov of dep for building dr- 8000 To building --------. 8000 After that dep dr- 50000 To buil- 50000 Finally buliding -650000-8000-50000= 592000 Likewise for furniture