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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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aishwariya  P

aishwariya P

CA Inter

180

01-Dec-20

43

Answers (9)

Which specific adjustment do you have a doubt?


Suraj Lakhotia

Suraj Lakhotia

Admin

01-Dec-20

Adjustments no.2,4 and 6


Thread Starter

aishwariya  P

aishwariya P

CA Inter

180

01-Dec-20

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

Thread Starter

aishwariya P

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


sai t

sai t

CA Foundation

300

01-Dec-20

Suraj Lakhotia Admin

Do not deduct from purchases.

Then how to get carriage expenses sir??


sai t

sai t

CA Foundation

300

01-Dec-20

Suraj Lakhotia Admin

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


sai t

sai t

CA Foundation

300

01-Dec-20

Flash Sale Byte size