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Kindly help me with this sum....
Accountancy
In the question below I attached the answer... I understand the question except Which is 11,485 amounts, which is there in the Sch- 13.... I.e interest and discount....... Amt...... How 11,485 Rs can anyone explain with logic i attached with an answer for reference.... Thanks in advance 😄
Answers (3)
In the given question, it is given that some of the items are already adjusted with "interest and discount". So, we should add back the non-relevant items to "interest and discount". Interest and discount = 10,225 (given) + 740 (Tax provision) + 460 (Provision for doubtful debts) + 60 (Loss in sale of investments) = 11,485
