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Exam (elaborations)

Balancesheet questions and answers

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Balancesheet questions and answers

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From the following particulars, prepare a balance sheet of Mr.
Somesh as at 31st March 2021:
Capital ₹5,50,000
Drawings ₹10,000
Sundry Debtors ₹1,00,000
Sundry Creditors ₹80,000
Loan From Bank₹20,000
Net profit ₹1,60,000
Closing Stock ₹50,000
Plant and Machinery ₹1,50,000
Building ₹1,20,000
Land ₹ 3,00,000
Goodwill ₹ 50,000
Furniture and Fixtures ₹30,000
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