- 7/2/2025
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CreativityTranscript
00:00:00illustration number one financial statements for commercial entity in the 3.123 in the
00:00:26section C carries 20 marks. So, we will try to finish up all the illustrations in this
00:00:41topic. Is that okay? I request you to join with me solving these illustrations, do not
00:00:52just listen. Hope it is readable now. Following are the ledger balances presented
00:01:05by Mr. P Sen as on 31st March 2023. Additional information. So, all my carriage in, gas, freight,
00:01:17in the matter. You have to prepare only trading account. Wages, freight, carriage in. So, we
00:01:25do not have any information related to the PNL accounts. We are going to prepare only trading
00:01:29account. Yes. Prepare the trading account from this illustration. Trading account. Illustration
00:01:52number one. By Mrs. P Sen. As on 31st March 2023. We have been given opening stock. Should
00:02:08be in the trading account debit side. Value being 10,000. Purchases, 1,020,000 rupees. 1,060,000 rupees.
00:02:26So, apart from that, we have carriage in. Carriage in. Carriage in irukkhu. Ennanna adjustments irukkhu.
00:02:36As the most note pannikklaam. Stock, as on the year end, market price or cost price rendu kuttu
00:02:43irukkharangu. You know that, while taking the value of the closing stock, we have to take whichever
00:02:49price is lower of market price or NRV. 20,000 will be final. Not this one. Number one. Stock
00:02:57value 10,000 were destroyed by fire and insurance company admitted the claim to the extent of
00:03:026,000. Ida Abnarmalas. Abnarmalas.
00:03:06Okay. In case of Abnarmalas, it should be credited in the trading account and debited to
00:03:14the Pintel account. But, of course, we are not going to prepare the Pintel account here.
00:03:19Erndalam, it is stock related. Abnarmalas. Adhukkana varir. Entry irukkhu.
00:03:26Goods purchased for Rs. 6000 on 29th, March 23, but still lying in transit. Goods in transit.
00:03:35Not at all recorded in the books. Ebti namha record pandadduh. We will see that. Goods taken for the
00:03:42preparator's own use, drawings. Appa purchases in the minus penni haak no? Outstanding wages.
00:03:49Idhala oandhu uru outstanding irukkhu, which is Rs. 4000 rupees. Fright was paid in advance. So,
00:03:56aheada pay penni irukkhu, it should be subtracted. Value being 1000. So, purchases in the original
00:04:02value olo rekapli chunakha, 1,60, we have to do some adjustments so thatma inge pooddukharang.
00:04:09Working note number 1 like. So, this value is 1,60, carriage in. Carriage in should be divided to the trading
00:04:19count. The value being 10,000. And wages. Wages. 30,000. And you need to add outstanding
00:04:33rupees 4 with that. So, 34,000. Fright. Fright. 8,000 rupees. But there is an advance rupees
00:04:48piece 1000. Should be subtracted. So, 7,000. Adjustment lemdhe rente erukkhu, pohano,
00:04:55in uradam, balance sheet lemdham akkoidom. Right. It will go to the balance sheet. So, with
00:05:05that this concept is over. By sales, the value being 3 lakhs. Return in
00:05:18outward. Sales return. So, sales return should be subtracted. They, right. So, poitu, veli
00:05:25poitu ularavarudhu, 16,000. Appair. Sales 300,000 minus return. Sales return. 16. Then final value
00:05:43is 2 lakhs. 84,000. Return output is going to be subtracted from purchase.
00:05:50It is the purchase return. The value being 10,000 subtracted from here. Royalty and production.
00:05:59The value being 6000. This value being 6000. This value being 6000.
00:06:06So, in the sum, you know, royalty trading.
00:06:13lepo ularavudhu item.
00:06:14The value being 10,000. The value being 10,000. This value being 6000. So, in the sum,
00:06:20lepo ularavudhu item.
00:06:21lepo ularavudhu item.
00:06:22lepo ularavudhu item. This value being 6000. This value being 6000. So, in the sum,
00:06:27lepo ularavudhu item. This value being 2000. So, with that all these particulars posted.
00:06:29Closing stock varamodhu. Whichever is lower of these two. So, 20,000 will be posted here.
00:06:36Closing stock varamodhu. Whichever is lower of these two. So, 20,000 will be posted here.
00:06:42Closing stock. So, with that all these particulars posted. Closing stock varamodhu. Whichever is
00:06:48lower of these two. So, 20,000 will be posted here. Closing stock. Then, P&L koon. Teva illa.
00:07:03Potosol illa. Balance sheet. Chuma. Link pantadhu kaha. Stock in trade. 20,000 rupees. And wages outstanding.
00:07:15Outstanding wages. Balance sheet lie at the side. 4,000 rupees. Fright paid in advance. Asset.
00:07:241,000 rupees. Double entry finished pantadha kaha. But it is not asked here. Second question.
00:07:34Stock value 10,000 were destroyed by fire and insurance company admitted the claim to the extent
00:07:406,000.
00:07:416,000.
00:07:42Yadavadhu stock destroyer and this is abnormal loss.
00:07:46Trading debitum.
00:07:49P&L koon. Kredits say.
00:07:52Yadavadhu.
00:07:53Abnormal loss.
00:07:54Right.
00:07:55Now.
00:07:56Maeve.
00:07:57I've earned insurance.
00:07:58Yadavadhu.
00:07:59I'm going to buy claims clime ruch snap.
00:08:00Over the years Ielerawadhu.
00:08:01I'm going to buy claims.
00:08:02So, by the way, I'm going to buy claims.
00:08:03I'm going to buy claims.
00:08:04I'm going to buy claims and income.
00:08:05Now.
00:08:06I'm going to buy claims and income.
00:08:07Now.
00:08:08If I'm going to buy claims claims as a flaws and cash is more stable.
00:08:10So, claim receivable is my asset, asset is my asset, claim receivable, claim receivable.
00:08:24If you are admitted, you will pay payment.
00:08:31Second adjustment, third adjustment, goods purchased 6000 and 29th March 23 but still laying in transit, not at all record on the books.
00:08:42Goods to record on the books.
00:08:45If you are told, what do you do?
00:08:48As on the 31st March, physically go and check what is the stock available in the Godon.
00:08:55But it is in transit not at all being available in the Godon.
00:09:01But Godon on the stock value, 20 in the stock.
00:09:06Purchases to creditors, this may be includable with the purchases.
00:09:14Okay?
00:09:15And will be includable with the creditors.
00:09:21Right?
00:09:22But, this is the stock value, but it is not.
00:09:26Godon on the stock value, He is not.
00:09:27Godon on the stock value, He is not.
00:09:29That means he is not.
00:09:30Goods in transit.
00:09:35Goods in transit.
00:09:38So, in this case, you have to add that with the purchases and creditors and cross-verifiers
00:10:03on the year-end, is it available in the godom?
00:10:06If you check the godom here, no problem, godom here, goods in transit.
00:10:10So, this is called goods in transit.
00:10:17Clear?
00:10:19Goods are taken for preparator for his own use.
00:10:24Drawings are given to purchase, but purchases are minus.
00:10:38So, drawings, value being 6000, will be adjusted in the capital account.
00:10:43Capital account, in the RI, we have minus.
00:10:46Outstanding wages and freight, net purchases here being, 1 lakh 50,000 goods are taken by
00:11:03the preparator 3,000 sorry, this is 3,000.
00:11:07This one is 3,000, okay.
00:11:18So then, what is the ultimate value, 1 lakh 53,000 is the purchases, 1 lakh 53,000.
00:11:31Now come on, try to finish up telling this to find out the GP or not.
00:11:363 lakhs 20,000 rupees is in the credit side, 3 lakhs 20,000 rupees and tell me the GP here.
00:11:57I think you will be getting 98,000, am I right?
00:12:00Yes.
00:12:01Transferred to PNL account, 98,000 but we confined with the trading account only here.
00:12:08Clear?
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00:12:59Text me.
00:13:29Text me.
00:13:59Text me.
00:14:23application, different chapter at different level.
00:14:26Later on, royalties will be given, but royalties are not that expense, overheads are being
00:14:32classifications.
00:14:33That expenses are not that expense.
00:14:36That expenses are factor overheads.
00:14:41Now, illustration number 2, illustration number 2, from the following
00:14:53particulars presented by Mr. Shankar for the year, prepare profit and loss account after
00:14:58taking consideration in the given details.
00:15:00So, we have been directly given GP.
00:15:02So, GP will in the sum of proceed.
00:15:07Okay.
00:15:08So, I am going to prepare the profit and loss account here.
00:15:13So, many adjustments are there.
00:15:14Apart from that, we have been given the adjustments also.
00:15:28Outstanding salaries, 4000.
00:15:30It is lower adjustment.
00:15:32Rent paid only for 11 minutes.
00:15:34So, it is lower adjustments.
00:15:36Interest due, but not received, amounted rupees 2000.
00:15:40So, interest lower adjustment.
00:15:43Prepaid insurance, amounted rupees 2000.
00:15:46Prepaid insurance, insurance premium into your adjustment.
00:15:51Depresate, planter machinery.
00:15:53After planter machinery, depresation board.
00:15:55Further bad debt, amounted rupees 2000.
00:15:58And make a provision for bad debt another 5 percentage and sundered debt as well.
00:16:03Right.
00:16:04That means, provision for bad debt and debt.
00:16:09Bad debt, rent rate adjustment.
00:16:11Commission received in advance.
00:16:13Commission received adjustment.
00:16:15Almost, all adjustments.
00:16:16So, we have started with the gross profit.
00:16:21Some board are made.
00:16:22The government also received in advance.
00:16:24Now, rent.
00:16:25What I did do is pay for adjustment.
00:16:27A lot of adjustment is an adjustment.
00:16:28Rent, 22,000.
00:16:29Put a dash for adjustments.
00:16:30Salaries, salary 10,000.
00:16:44Of course, there is an adjustment.
00:16:46Put a dash.
00:16:48Commission, credit side, the value being 12,000, dot which require, adjustment require, dot
00:16:57which require, line would require, insurance, value being 8,000, adjustment require, for
00:17:04space require, interest, credit side, 6,000 and in inner column dash, bad debt, provision
00:17:15for bad debt, I calculate this separately, ok, this will be calculated, bad debt in the
00:17:30trial balance, bad debt given in the adjustment, provision for doubtful debts required for the
00:17:39next year, usually given in the adjustment, you will value in the year, PDD, trial balance
00:17:46in the trial balance, balance amount transferable to client, either debit side or credit side,
00:17:54either debit side or credit side, negative value in the credit side, positive value in the
00:18:00debit side, in the format.
00:18:07I request you to finish up watching that.
00:18:10Here, I am going to solve this illustration, as you already have the basic knowledge.
00:18:15Best one plus three, bad debt line up and run through the details, you will have the adjustment
00:18:22information.
00:18:23So, these things are, after taking consideration in the given details, this is the adjustment
00:18:32information.
00:18:33Bad debt, you will have to be able to apply to the trial balance, the balancing figure entire
00:18:38assessment.
00:18:39And, provision for bad debt, is 1421 in the beginning of year, 21 in the beginning of year,
00:18:46March 23, trial balance will begin.
00:18:48I can have that if you can receive the balance of the year, next year, it will only be able to
00:18:51absorb theok, and the next year is given by the year.
00:18:54and we have been given sundry debtors
00:19:18sundry debtors are the same, this is the format
00:19:23debtors balance 40,000 rupees
00:19:29bad debt, adjustment la ull la bad debt nama subtract money
00:19:35form it
00:19:37trial balance la bad debt nama unduchna sir
00:19:40was already adjusted nafton requires no further adjustment
00:19:44adjustment la ull la it is your duty to adjust this bad debt
00:19:49you have to subtract the pdd for the next year
00:19:53which is usually given in the adjustments not in the trial belts
00:19:56here we have been given the debtors
00:20:00this format will go to the balance sheet
00:20:02this format will go to the balance sheet
00:20:04in the value in the final value
00:20:06here we have been given the debtors
00:20:08this format will go to the balance sheet
00:20:10in the value in the final value
00:20:12here we have been given the debtors
00:20:14here we have been given the debtors
00:20:16discount received 2,000 rupees
00:20:18no adjustment
00:20:20credit as the settlement
00:20:30discount received
00:20:31simply revenue
00:20:32put that value in the credit side of the tnll
00:20:34tnll account
00:20:36plant and machinery
00:20:3880,000 rupees
00:20:40tnll account la varadu
00:20:42but adha kanna depreciation la varu
00:20:44adjustment la number 1
00:20:46outstanding salaries amounted rupees 4,000
00:20:48so salary is la outstanding being at
00:20:50pnll account la varadu
00:20:52now the total salary debited to the pnll account
00:20:54is 14,000
00:20:56as per the matching concept
00:20:58as per the matching concept
00:21:00rent paid only for 11 months
00:21:02then what do you do
00:21:04balance sheet
00:21:06balance sheet
00:21:08outstanding salary
00:21:10so outstanding salary
00:21:12cake
00:21:14outstanding salary
00:21:164,000 rupees
00:21:18rent paid for 11 months
00:21:20ok
00:21:2222,000
00:21:24it is 11 months
00:21:2612 months
00:21:2812 months
00:21:3012 months
00:21:3212 months
00:21:3412 months
00:21:36outstanding
00:21:38should be added
00:21:40so this is also
00:21:42outstanding rent
00:21:44this value being
00:21:462,000 rupees
00:21:48interest due
00:21:50but not received amorted rupees 2,000
00:21:52due date
00:21:54you know
00:21:56you know
00:21:58outstanding interest
00:21:59interest is the revenue
00:22:00so interest
00:22:01outstanding
00:22:02accrued
00:22:032,000
00:22:04so 8,000 rupees
00:22:05is the final value for the pnll
00:22:06it is the final value for the pnll
00:22:08it is the value of the pnll
00:22:10interest accrued is my asset
00:22:12so put that value in the asset side
00:22:142,000 rupees
00:22:16prepaid insurance amounted to rupees 2,000
00:22:18prepaid insurance amounted to rupees 2,000
00:22:20prepaid insurance amounted to rupees 2,000
00:22:22insurance prepaid
00:22:24it is not related for this period
00:22:26it is not related for this period
00:22:28what you have to do
00:22:30you have to do a subtraction
00:22:32advance
00:22:34so 6,000 will be debited here
00:22:36prepaid insurance
00:22:38prepaid insurance amounted to rupees 2,000
00:22:40if you have to do a sell
00:22:41if you have to do a sell
00:22:428,000
00:22:43you have to pay payment
00:22:44enjoy it
00:22:45it is an asset
00:22:46so balance sheet asset seller
00:22:47advance insurance
00:22:49this value being 2,000
00:22:51depreciate plant and machinery by 10 percentage
00:22:53if you have to do a 10 percentage
00:22:558,000 should be depreciated
00:22:56so depreciation is always
00:22:58a loss
00:22:59debit to pnll upon
00:23:00depreciation
00:23:01so depreciation is always
00:23:02a loss
00:23:03debit to pnll upon
00:23:04depreciation
00:23:05depreciation
00:23:06of plant and machinery
00:23:0710 percentage
00:23:08on 80,000 rupees
00:23:09being 8,000 rupees
00:23:10so here
00:23:12plant and machinery
00:23:148,000
00:23:15depreciation
00:23:17on this
00:23:188,000 is
00:23:1980,000 rupees
00:23:208,000 has been subtracted
00:23:22so balance being
00:23:2372,000
00:23:24further bad debt amounted to rupees 2,000
00:23:28adjustment
00:23:30on the rent
00:23:32on the detachment
00:23:33on the subtract
00:23:34and
00:23:39make a provision of
00:23:405%
00:23:41on the standard data
00:23:42in the banded
00:23:43point
00:23:44on the balance
00:23:45you can get banded
00:23:46pnll upon
00:23:47pnll upon
00:23:48pnll upon
00:23:4919,000
00:23:5019,000
00:23:51amma right
00:23:52on the 1900
00:23:53invert
00:23:54pnll upon
00:23:55debit
00:23:56pnll upon
00:23:57debit
00:23:58you are rising the amount
00:23:59or you are transferring the pnll amount to ptd account for the later periods banded adjustment
00:24:04rent
00:24:05air claim
00:24:06of course we don't have any discount on debtors
00:24:10commission received in advance
00:24:12so in the commission
00:24:13advance
00:24:14meeting
00:24:15pnll upon
00:24:16the
00:24:18pnll upon
00:24:21you are liable for that
00:24:22lay at this side
00:24:23advance
00:24:24commission
00:24:25received in advance
00:24:26value being 2,000
00:24:27it is a liability
00:24:29If a debtors should be balanced finally, in the value 36,100 should be posted here, debtors
00:24:3938,000 minus PDD 1900, outer kalatala 36,000, 36,000 is that clear, so with that second
00:24:50one is over.
00:24:54So, here we have shortage by 1900 debited here, 1900 debited here, okay, it will look
00:25:24related to bad debt and PDD.
00:25:29So, in the calculation in the market, if you want to work out, you will get the confessions
00:25:34in the market, clear.
00:25:36Now, tell me what is the total of credit side?
00:25:431,20,000.
00:25:44So, 1,20,000 rupees.
00:25:48Now, what about the net profit?
00:25:5566,100.
00:25:56Now, what about the net profit?
00:26:0266,100, okay.
00:26:0466,100, okay.
00:26:05So, capital account, you will be able to understand this one also.
00:26:1166,100, okay.
00:26:12So, let me add back money.
00:26:13I hope you will be able to understand this one also.
00:26:1867,100, okay.
00:26:1967,100, okay.
00:26:2067,100, okay.
00:26:2167,100, okay.
00:26:2268,100, okay.
00:26:2368,100, okay.
00:26:2468,100, okay.
00:26:2568,100, okay.
00:26:2669,100, okay.
00:26:2769,100, okay.
00:26:2869,100, okay.
00:26:2969,100, okay.
00:26:3069,100, okay.
00:26:3169,100, okay.
00:26:3269,100, okay.
00:26:3369,100, okay.
00:26:3469,100, okay.
00:26:3569,100, okay.
00:26:3669,100, okay.
00:26:3769,100, okay.
00:26:3869,100, okay.
00:26:3969,100, okay.
00:26:4069,100, okay.
00:26:4169,100, okay.
00:26:4269,100, okay.
00:26:4369,100, okay.
00:26:4469,100, okay.
00:27:15Shall we move on to the next one?
00:27:42See, actual final course, trading account, trading account, what are the comprehensive components
00:28:01we have?
00:28:08So, what are the components we have?
00:28:15Now, basically, what are the components we have?
00:28:22Now, basically, what are the components we have?
00:28:29Now, basically, what are the components we have?
00:28:30Trading account, P&L account, balance sheet.
00:28:36So, what are the components we have?
00:28:37So, what are the components we have?
00:28:39Trading account, P&L account, balance sheet.
00:28:46So, what are the components we have?
00:28:47Balance sheet.
00:28:48Soul trader.
00:28:49Soul trader.
00:28:50Soul trader.
00:28:51Buying and selling.
00:28:52Redmond account, partnership.
00:28:53So, what are the components we have?
00:28:54Yes.
00:28:55So, what are the components we have?
00:28:56So, what are the components we have?
00:28:57partnership from, up and the sum every morning, trading account, P&L account, one profit
00:29:10one day all the way to say that, red moon pair, it will be shared with you, that is
00:29:16one structure of what F&L account we have to prepare P&L appropriation, P&L appropriation
00:29:22and of course, you have to prepare capital controls along with it needed. Then finally,
00:29:37balance sheet. Now, I am not a trader, I am manufacturer come trader. Now, I am ready
00:29:49now, manufacturing account, raw materials long way, that finished goods are convert
00:29:56upon the value of manufacturing account. Convert upon the finished goods are cost, trading
00:30:03account, transfer point. That I prepared the P&L account, if I am being the sole trader,
00:30:10then I prepared the balance sheet. If I am being the partnership owner, then automatically
00:30:15P&L appropriation account will come here. Okay. So, for manufacturing account, trading account,
00:30:20P&L account and balance sheet. Even sometimes, P&L appropriation account along with capital account
00:30:26possible. Now, when the furniture is a trader, would you furniture
00:30:33and purchase? Now, I am going to buy the raw material purchase. And that is the wages, other materials,
00:30:45factory which you run, that is the factory overheads. This cost of production will go to the trading account.
00:30:50This cost of production will go to the trading account. That is the sale of a table.
00:30:54One table will come to a wood, a carpenter, a carpenter, a painting, a factory overheads, a factory overheads,
00:31:06a factory overheads, a factory overheads, a factory overheads, a factory overheads, a factory overheads.
00:31:08That is the transfer of a sale. If I am being the trader, I directly purchase the table for 10,000 rupees, put that value
00:31:18in the trading account in the debit side and sell it for 12,000 rupees, rent a cooler difference in the G.P.
00:31:22trading activity. If I am being the manufacturer and then, and then I am doing the trading also,
00:31:29it is the first block, the second block, rent a block and I am going to purchase. No, all of them.
00:31:32That is the case you have to understand. The question number 3 is all about appropriation.
00:31:40Appropriation. That was in the block. In the block.
00:31:45How many partners are there? What is the demand?
00:31:49Partners is a salary. Partners is a salary. Partners is a salary. Partners is a capital interest.
00:31:54It is a salary. That is a salary. That is a salary.
00:31:58Expenses is a salary.
00:32:00The profit is a salary.
00:32:04Okay?
00:32:05Owner, owner, and the salary is a salary. P&L debit is a salary.
00:32:07Debit is a salary.
00:32:08Profit is a salary.
00:32:09Profit is a salary.
00:32:10Profit is a salary.
00:32:11Government tax is a salary.
00:32:13Owner, owner, and the payment is a salary.
00:32:15Sharing.
00:32:16That is appropriation.
00:32:17Now, see here.
00:32:19P&L appropriation accord. P&L appropriation accord.
00:32:29X, Y, and Z are three partners sharing profits and losses equally.
00:32:34Their capitals in the beginning are being these three.
00:32:38Prepare profit as appropriation accord.
00:32:42They mutually agreed on the following points.
00:32:45Interest and capital.
00:32:47One profit is share.
00:32:50That will be P&L debit.
00:32:52What is the profit?
00:32:53What is the profit?
00:32:54That will be P&L appropriation accord.
00:32:56So, the net profit from the P&L.
00:32:58That is the net profit.
00:33:00The net profit is transfer.
00:33:02If you have partners, you have salary.
00:33:05You have capital.
00:33:07You have interest.
00:33:08You have contacts.
00:33:10You have business development.
00:33:11You have volume of business.
00:33:13You have commission.
00:33:15You have risk.
00:33:17You have share.
00:33:19Net profit.
00:33:21You have loss share.
00:33:22Apart from that,
00:33:23All of that,
00:33:24you have a reserve.
00:33:26So, you have various purposes.
00:33:29If you have partners,
00:33:30you have debit sale.
00:33:32If you have interest in the capital,
00:33:35you have debit sale.
00:33:37If you have the drawings,
00:33:39you have interest.
00:33:41Then, it will come in the credit sale.
00:33:43Interest and drawings.
00:33:45So, what are the items that will come up?
00:33:47You have a clue.
00:33:48The mode of partner support will be honest.
00:33:50Or compensated.
00:33:51How?
00:33:52If I am supporting the organization physically,
00:33:56working a lot of time for taking care of the business,
00:33:59then I may be getting the salary.
00:34:01And I have invested more money here,
00:34:03then I may be getting the interest on capital.
00:34:05Or I may show lots of contacts for the business development.
00:34:08I may get the commission.
00:34:10Even profit and loss.
00:34:12Risk sharing ability.
00:34:14Now,
00:34:15interest on capital being 5 percentage.
00:34:17So, interest on capital.
00:34:18So, interest on capital.
00:34:19I'm going to guarantee,
00:34:20this is how real money is,
00:34:21I am trying to sell the money money.
00:34:22That's the same money.
00:34:23Now,
00:34:24Now,
00:34:25interest on capital being 5 percentage.
00:34:27So, interest on capital.
00:34:28Who are you?
00:34:31X, Y, Z.
00:34:34If you have capital, it's 5%.
00:34:37X is 80,000.
00:34:385% is the same.
00:34:39Y is the same.
00:34:41Y is the same.
00:34:43Z is the same.
00:34:45Overall, 9,500.
00:34:48X to receive, to be received a salary of Rs. 500 per month.
00:34:54Salary.
00:34:55Who are you?
00:34:57Y to be received a commission at the rate of 4% and net profit after charging such commission.
00:35:12After charging such commission.
00:35:15So, commission case.
00:35:18Commission, Y, Y?
00:35:21After charging such commission, we will keep it pending.
00:35:26And D.
00:35:27After charging all other items, 10% of the net profits to be transferred to GR.
00:35:33That means GR transfer to GR.
00:35:38Okay.
00:35:39Y?
00:35:40Y?
00:35:41Y?
00:35:42Y?
00:35:43Y?
00:35:44Y?
00:35:45Y?
00:35:46Y?
00:35:47Y?
00:35:48of profits and profits and loss profit from the profit and loss account being $66, masking.
00:35:57Okay.
00:35:58commission calculate pundray commission calculate pundray commission calculate pundray commission
00:36:07commission 4 percentage commission on on net profit after commission net profit after
00:36:28commission clear this is the commission by hundred to say commission by hundred plus commission
00:36:38pundray commission by hundred plus commission pundray commission by hundred to say confusions create pundray
00:36:40if it is 4 by hundred and 4 you can break a shortcut for 4 percentage to null 2 term understand
00:36:50pundray commission 4 by hundred 4 one hundred one two term mean pundray commission hundred
00:37:00upttinger commission net profit after such commission net profit after such commission 4
00:37:06ungrat this is 100 upttinger commission net profit after commission net profit before commission
00:37:09before commission before commission or before all the things 66,720 that is what we can do
00:37:23interest and salary interest and salary interest and salary 9500 plus 6000 15500 subtract
00:37:32pundray commission 512,720 this is the net profit after before commission before commission ok
00:37:47this is the net profit okay net profit simply net profit net profit net profit before all the appropriation
00:38:03being 66,720 I need to know net profit after commission after commission net profit is the net profit
00:38:11after commission we got this this is the net profit after commission you can understand the dictionary
00:38:31meaning net profit before commission that is the net profit after commission we got this
00:38:38this now,I now in the diagram just,I mean the diagram again or statement upper
00:39:07Net Profit after Commission 100, Commission 4.
00:39:12Net Profit before Commission, if you have 4 less than 100,
00:39:18this value is 104.
00:39:23Yes sir, 4 percentage is 4 by 100,
00:39:284 by 100 and 4 is easy.
00:39:31It's easy to do whatever application is.
00:39:34But how do you use it?
00:39:36You have the alternative applications also.
00:39:39When the 2 terms are connected in percentage form,
00:39:42the 1st term will be the numerator,
00:39:442nd term after on whatever it may be is 100.
00:39:47Net Profit before Commission, Minus Commission, Net Profit after Commission.
00:39:52In the 3, 8th, you can say,
00:39:53what is 100, what is 4?
00:39:55Ok.
00:39:56What is the numerator term?
00:39:59What is the base?
00:40:01That is 100.
00:40:03That is 100.
00:40:04That is 100.
00:40:05Net Profit before Commission.
00:40:06In the Commission,
00:40:07Minus 1.
00:40:08This is plus 1.
00:40:09This value is 514,
00:40:10220,
00:40:11104.
00:40:12104.
00:40:13104 is equal to 51220.
00:40:16We can do the cross multiplication.
00:40:19I think this value being 1,970.
00:40:22Are you getting?
00:40:24Okay.
00:40:25So, on Net Profit after charging such commissions,
00:40:29commission by 100 plus commission,
00:40:33I will tell you.
00:40:35What is the power too?
00:40:36At the level,
00:40:37Especiallyовать Freedom fromCanada,
00:40:38For Israel.
00:40:39At the final level or professional level
00:40:41Are you getting out of this easily than an answer to that leave?
00:40:43The
00:40:43London Inn Как the
00:40:46unit requires any questions?
00:40:48zu Сной geb force,
00:40:49Spirit for payer,
00:40:50competitor ofaciones.
00:40:51Do itays.
00:40:52Hope you cannot understand!
00:40:531070.
00:40:54This is 1070.
00:40:56And, in order to transfer to GR, after charging all other items, all other items,
00:41:0610 by 100 transfer to GR on net profit after all charges.
00:41:35Now tell me, net profit before GR minus GR, you will get net profit after GR you can get.
00:41:59Is that okay?
00:42:01After GR you will be getting.
00:42:03Before GR you will be getting.
00:42:05Before GR you will be getting.
00:42:07You will be getting.
00:42:0949,250.
00:42:1149,250.
00:42:1349,250.
00:42:1549,250.
00:42:17Right.
00:42:19So, you will break.
00:42:21You will break.
00:42:2350,250.
00:42:2550,250.
00:42:2750,250.
00:42:2950,250.
00:42:3150,250.
00:42:33Win.
00:42:35After all charges, but GR will say, okay, what will happen like that?
00:42:40Net profit before GR, this is the net profit before GR.
00:42:45All charges are less.
00:42:47That is GR.
00:42:50Clear as you will be transferred to GR.
00:42:53After all, charging all other items.
00:42:58Transfer is appropriate.
00:43:00You know that GR is 10 rupees.
00:43:05Before GR is 100 rupees.
00:43:07This is the net profit.
00:43:09Then it is 90 rupees.
00:43:11After all charges, excluding GR,
00:43:17GR will say, this is 100 rupees.
00:43:21Before charging such commission model.
00:43:24Before charging, after charging,
00:43:29the amount should be 10 rupees.
00:43:31They will be 100 rupees.
00:43:35After charging is 10 rupees.
00:43:37Then it is 10 rupees.
00:43:41After charging is 10 rupees.
00:43:43once you understand then you can break
00:43:45all the charges in the same time
00:43:47what amount is in the same amount
00:43:49that amount is 100
00:43:51that transfer is 10
00:43:53if you go all the amount
00:43:55that is GR
00:43:5749250
00:43:59that is 100
00:44:01which is
00:44:034,925
00:44:05so I will put that value here
00:44:074,925
00:44:13now find out that balance here
00:44:1766,720
00:44:21here you can transfer to the capital
00:44:23final balance
00:44:25all the partners are equally sharing
00:44:27profit
00:44:29share
00:44:31profit and loss
00:44:33x,y,z
00:44:35balancing
00:44:37figure
00:44:39I think
00:44:41this value being
00:44:4344,325
00:44:45all the 3 partners
00:44:47are sharing this equally
00:44:49divided by 3
00:44:5114,775
00:44:53will be the final balance
00:44:55clear
00:44:57come on post this
00:44:59clear
00:45:01come on post this
00:45:03clear
00:45:05come on post this
00:45:07clear
00:45:09come on post this
00:45:11good
00:45:13please
00:45:15wha
00:45:17yes
00:45:19i
00:45:21i
00:45:23i
00:45:25don't
00:45:27please
00:45:28any
00:45:29any
00:45:30things
00:45:31i
00:45:32there
00:45:33nd
00:45:34you
00:45:35i
00:45:36i
00:45:37i
00:46:09And finished good stock on 31st March when the cost or market value, whichever is lower that you know, closing stock. Depreciate furniture 10% per annum, machinery 20% on reducing balance.
00:46:31So, furniture 10% per annum, furniture 10% per annum, machinery 20% per annum, rent 5000 was paid in advance, advance 5000.
00:46:54Salaries and wages due but not paid, outstanding 10,000.
00:47:05Sir, 30,000 rupees.
00:47:07That's why we mark it.
00:47:09Make a provision for doubtful debts 5% on debtors, PDD, provision for doubtful debts.
00:47:16Commission for doubtful debts.
00:47:17One of them, debtors, PDD, debtors, 5%, commission receivable 5000 rupees, commission add 5000, outstanding.
00:47:29So, closing stock first of all, illustration number 4, trading account, trading account and PNL account.
00:47:44Trading and PNL account, trading and PNL account, balance sheet, balance sheet.
00:48:05Asit said, finished good stock, finished good stock, finished good stock, 4,00,000.
00:48:34And then now you can post all the items given in the trial balance one after one.
00:48:43I will pick few of the items here.
00:48:47Yeah.
00:48:48First, stock opening.
00:48:49Opening stock, 2,00,000.
00:48:50Purchases and sales.
00:48:52Purchases debit sale level, 22,00,000.
00:48:54Purchases debit sale level, 22,00,000.
00:48:58Purchases.
00:48:59Purchases and sales.
00:49:01Purchases debit sale level, 32,00,000.
00:49:07Purchases debit sale level, 30,00,000.
00:49:11Purchases debit sale level, 32,00,000.
00:49:15Sales Credit Sale 35 lakhs, BR 50,000 Asset Sale
00:49:26Returns Sales Returns, Purchase Returns
00:49:36Purchase Returns Credit Sale
00:49:42Debit Sale, Debit Sale 1 Sales Return
00:49:48So, then it becomes 34 lakhs
00:49:53Purchase Returns 50,000 Rs. 0.5 lakhs is subtracted.
00:49:58So, this value being 21.5 lakhs, 21 lakhs 50,000 Rs.
00:50:08Carriage In
00:50:12Trading Debit made a good item, value being 50,000 Rs.
00:50:16Carriage In
00:50:18Okay
00:50:22Now
00:50:32Debtas and credit cards, debtas, PDD
00:50:38And
00:50:52Debtas and credit cards, debtas, PDD
00:50:54And
00:50:55Debtas and credit cards, PDD
00:50:56And
00:50:58Debit Sale
00:50:59Debtas
00:51:002 lakhs
00:51:02Now
00:51:03PDD
00:51:045%
00:51:0510,000
00:51:061 lakh
00:51:0790
00:51:08That
00:51:10PDD should be Debted to the PNL of Con
00:51:12Value being 10,000
00:51:14Value being 10,000
00:51:15Credit cards on the 4 lakhs
00:51:234 lakhs
00:51:244 lakhs
00:51:254 lakhs
00:51:26Nothing
00:51:27State with them
00:51:28Carriage
00:51:31Outward
00:51:32PNL of Con
00:51:34Sales
00:51:35PNL of Con
00:51:37Debit
00:51:38PNL of Con
00:51:39Discounts
00:51:41Debit
00:51:43Debit
00:51:44Credit Sale
00:51:45IdentPL
00:51:52Debit
00:51:54Dollar
00:51:55Cash
00:51:56Debit
00:51:57Close
00:51:58injuries
00:51:59Lawed
00:52:01Credit
00:52:02PNL
00:52:03Acclında
00:52:05arkadaÅŸlar
00:52:07What
00:52:13Chaim
00:52:14Salaries and wages, the value being 220, but outstanding
00:52:32Salaries and wages, due but not paid 30, wages and salary, I just score out here, and salaries
00:52:48and wages, okay, then I have to add the 30 here, salary and wages, 2,50,000 is debited
00:52:59here, clear. Salaries and wages and wages, wages and salaries, I mean, but that's the
00:53:07old classification rules. I am outdated, salaries and wages, wages and salaries, and
00:53:13they understand they can get more than pnl debit, but the value being 100 is not
00:53:19available. But what you can do, salaries and wages, wages in salary, and salaries, and
00:53:27But what you can do? Salaries and wages, wages and salary, whatever it may be, debit to the PNL.
00:53:31Trading income level salary, one is salary. Depreciation trading income level, one is manufacturing concern.
00:53:38Related to the production finished goods, it may debit to the PNL.
00:53:42Confusions are there, but you can do simply, whatever it may be, salaries or wages or wages or salary, debit to PNL.
00:53:50Wages are purely trading income level debit.
00:53:52And in the book there is salaries and wages, wages and salary are there, that is old concept.
00:53:57In the old concept, I will explain it.
00:54:00First wages on the trading, first salaries on the PNL.
00:54:03The old concept, so under the model.
00:54:05220.
00:54:07Hope, first block is over now.
00:54:14Okay.
00:54:15Now we will start with insurance.
00:54:17It is insurance.
00:54:18It is one part.
00:54:21Printing and stationery.
00:54:22Printing and stationery.
00:54:23It is one part.
00:54:25Insurance is a premium paid.
00:54:28PNL debit to the PNL.
00:54:30Insurance.
00:54:32One will say, outstanding, advance is not.
00:54:35It is one part.
00:54:36This value being 60.
00:54:37Rent.
00:54:38Rent.
00:54:39Value being 60.
00:54:40That is the advance payment.
00:54:41Advance is not.
00:54:4255.
00:54:43Double entry.
00:54:44Any expenses paid in advance is your asset.
00:54:45I transfer that directly to the balance sheet.
00:54:48Okay.
00:54:49Here, 5,000 rupees is the advance.
00:54:53Rent in advance.
00:54:58Okay.
00:54:59Here, 5,000 rupees is the advance.
00:55:03okay here 5000 rupees is the advance
00:55:09rent in advance
00:55:19okay
00:55:20clear
00:55:28anusri are you able to understand your answer for net sales and net purchases go and verify with
00:55:34the answer i have posted here then wages and salary
00:55:41the old classification wages and salaries
00:55:47this value being 80,000 rupees outdated one okay bad debt
00:55:57PNLUKKULA DEBIT PANDIYA AKUNO bad debt value being 10,000 furniture asset
00:56:09the value being 4 lakhs subject to depreciation the rate of 10 percentage 40
00:56:153 lakhs 60 and the depreciation is debited to PNLUKKON depreciation
00:56:23furniture gunna depreciation 40,000
00:56:26BJ's capital as well as BJ's drawings so capital
00:56:34balance sheet like this side drawings 70 capital 500 drawing 70 430
00:56:42loose tools also asset loose tools okay balance sheet asset side we don't have any deposition on this
00:56:52so loose tools varikinama potom region ship
00:57:00clear
00:57:02then further few more items printing and stationery land the commission varikin marikin we will try to
00:57:06finish up those things also
00:57:07right printing and stationery also being expenses debited with the PNLUKON so printing and stationery
00:57:19this value being 30,000
00:57:23advertising
00:57:27advertising 50,000 rupees
00:57:30cash and bank cash and bank
00:57:3845,000 45,000
00:57:45and bank 2 lakhs
00:57:49bank 2 lakhs petty cash
00:57:515,000
00:57:52cash 5,000
00:57:55adhu cash oute balance than
00:57:56missionary
00:58:013 lakhs
00:58:07missionary 3 lakhs
00:58:11adhu kana depreciation 20 percentage
00:58:12annually
00:58:29per
00:58:32funded
00:58:33capital
00:58:34Commission debit seller 10, credit seller commission 30 plus outstanding accrued 35,000.
00:58:47So, outstanding commission receivable or accrued commission accrued commission being
00:58:5940,000. So, we have posted all the items. Now, we can simply tally this.
00:59:1438 lakhs here. 38 lakhs. Your GP in this case being
00:59:292 lakhs, 21, 50, 50, 80, 13 lakhs, 20,000 rupees. Am I right? I transferred to the PN Telecom
00:59:37GP, 13 lakhs, 20,000 rupees on tallying this the net profit being total on the 13 lakhs,
00:59:4760,000 rupees. 13 lakhs, 60,000 rupees. Verify whether are you able to get the net profit
00:59:58here. The net profit in this case being 7 lakhs, 40.
01:00:06Okay.
01:00:0860, rent 55, and printing and stationary 30, advertising 50, and carriage outward 40, discounts 5,000 rupees.
01:00:35Okay, bad debt 10,000 rupees, commission 10,000 rupees and provision for doubtful debts 10,000
01:00:47rupees.
01:00:48Hope you will be getting 7,40,000, right?
01:00:52Checkman Angapam, at net profit 7,40,000 rupees.
01:00:58Total capital balance then 11,70,000 rupees.
01:01:02You have only creditors 4 lakhs in the library side other than capital.
01:01:16Outstanding salaries and wages what I move today?
01:01:20So outstanding salaries and wages.
01:01:25That's 30,000 rupees.
01:01:2812 lakhs plus 4, 18 lakhs.
01:01:31Sorry 16 lakhs.
01:01:33What is the answer?
01:01:35Net profit.
01:01:36Calculator risk?
01:01:37Mobile calculator.
01:01:39Calculator.
01:01:40Calculator.
01:01:41Non scientific calculator.
01:01:42Calculator risk?
01:01:43Balance sheet.
01:01:44Asset side.
01:01:45Tally?
01:01:46Tally?
01:01:47Tally?
01:01:48Tally?
01:01:49Tally?
01:01:50Tally?
01:01:51Tally?
01:01:52Yeah.
01:01:53Tally?
01:01:54Verify?
01:01:5516 lakhs.
01:01:56Yeah.
01:01:57I hope it is tallying.
01:02:00And CMA inter book.
01:02:04Fifth illustration.
01:02:06Okay.
01:02:07Chapter 3 point.
01:02:083.1.
01:02:09Fifth illustration.
01:02:10I request you to try to write yourself.
01:02:17Right?
01:02:18Alright.
01:02:19I am changing the parts.
01:02:20Oh right.
Recommended
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