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Final a/c

What will the effect of these adjustments on trading nd p&l a/c and balance sheet

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Keerthi  P

Keerthi P

CA Inter

90

01-Dec-20 08:42

21

Answers (9)

Which specific adjustment do you have a doubt?


Suraj Lakhotia

Suraj Lakhotia

Admin

01-Dec-20 09:22

Adjustments no.2,4 and 6


Keerthi  P

Keerthi P

CA Inter

90

01-Dec-20 09:26

2. Machinery not recorded. Record machinery and creditor. Impact on depreciation as well. 4. Motor bike - remove from the books. Amount sold is drawing. 6. Portion pertaining to purchases is direct and that to sales is indirect.


Suraj Lakhotia

Suraj Lakhotia

Admin

01-Dec-20 09:56

How the 6th adjustment is recorded in balance sheet?

2/3 is carriage inwards and 1/3 is carriage outwards IE means deduct 2/3 from purchases (carriage inwards ) entry in trading account 1/3 on sales (carriage outwards) entry in p&l account


harsha t

harsha t

CA Foundation

175

01-Dec-20 11:53

Do not deduct from purchases.

Then how to get carriage expenses sir??


harsha t

harsha t

CA Foundation

175

01-Dec-20 12:37

Do not deduct from purchases.

Sorry sir I didn't see that carriage expenses present in trial account if that carriage expenses is avaliable then 2/3 is related to purchase and 1/3 is related to Sales am I right sir


harsha t

harsha t

CA Foundation

175

01-Dec-20 12:41