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00:00:58In the book in the book, the illustration is one adjusted trial balance where all these adjustments were passed as an entry and the trial balance is incorporated in the video.
00:01:18On the basis of the example of the questions, how are standing and accrued items? Depressions in the book, the adjustment yield. We have been given only salaries include 10,000 towards renovation of a proprietor's residence.
00:01:40Drawings in the book, it is an error. So, it should be transferable to the owner's account. Closing stock amounted Rs.75,000.
00:01:53Mr. O however, request you to prepare trading and profit loss account for the year-end.
00:01:59So, balance sheet, trading in P-intel account and balance sheet, trading in P-intel account and then balance sheet.
00:02:12So, in the salary is a, other than the minus drawings 10,000 subtracted. Now, the drawings will be subtracted from the capital account.
00:02:27So, capital minus drawings 10,000.
00:02:34Every adjustment should have two postings. That's why we put it.
00:02:41Salary in the salary, we put it. That's why we put it. That's why we put it.
00:02:46That's why we put it in the salary. That's why we put it in the drawings. That's why we put it in the drawings.
00:02:49Okay. Adjustments, if we do it, we put it in the data.
00:02:53That's why we put it in the cash. So, the amount of cash is worth it.
00:02:55Closing stock amounted Rs.75,000.
00:03:00So, trading in the credit side closing stock, 75,000.
00:03:0875,000. Then we can post all the adjustment items one after one. Trial balance is required.
00:03:29Okay. I will pick up to this. Outstanding electricity charges are required. Outstanding electricity
00:03:44charges are required. Now come on. Tell me one after one. First plant and machinery, 2,12,500
00:04:03assets. Centric creditors library 2,64,000. Sales trading credit 6,50,000. Purchases debit 4,20,000.
00:04:30Salaries, 40. It includes drawings. Less money. Prepaid insurance. Where will it come? Asset side.
00:04:47Balance sheet. Asset side. Prepaid insurance. Asset side. Prefix, suffix. Outstanding, advance, prepaid.
00:05:00You pay the rent in advance. Asset side. So, advance rent. Rent paid in advance. 2,000. Outstanding salary.
00:05:22Outstanding salary. The value being 6,000. Outstanding salary.
00:05:32Cash basis. Cash basis.
00:05:37Okay. Okay. Okay. Okay. Sorry. So, here what happened? You have to prepare under cash basis accounting system.
00:05:49accounting system. Okay. Okay. Okay. Okay. Okay. Okay. Okay. So, now, prepaid insurance
00:06:01there are 370. Insurance. Insurance. What actually you paid should be posted in the payment side. What actually you
00:06:19will be posted will be posted in the credit side. Right? Cash basis in the credit side. Right?
00:06:26Cash basis in the report. So, here you are.
00:06:29Okay. Okay.čÆ
00:06:46Okay. clear. Now,ul. salary
00:06:56is okay, prepaid insurance first, insurance paid, insurance, prepaid, that is payment
00:07:07to go on, prepaid, you need to pay, minus, you need to pay, so add prepaid, the value
00:07:18being 370. One of the interesting illustrations, in the illustrations, in the non-profit organization
00:07:27, income statement, residence and payment, so what actual residence and payment will be
00:07:38there, should be posted in the debit and credit, not the outstanding and advance, right, so
00:07:42that's the logic here. Adhemadari, advance rent, 2000 rupees, then rent, how much you
00:07:49get in the period, advance, add advance, this value being 2000 rupees, salary outstanding
00:08:006000 rupees, so you have to subtract this value, salary should be subtracted, advance
00:08:06salary 2500, outstanding salary 6000, minus salary 2500, outstanding salary 6000, minus salary
00:08:13and plus, electricity charges, electricity charges, electricity charges, here, here, advance
00:08:20salary 2500, outstanding salary, advance salary 2500, outstanding salary, advance salary
00:08:242500, outstanding salary 6000, minus and plus, electricity charges, electricity charges, ok, EB, everything
00:08:35put a grant, the value being 2650, furniture fixtures, 77000, 72000, opening stock 50000,
00:09:04ok, outstanding electricity charges, ok, outstanding electricity charges 450, 2650, outstanding
00:09:19yes, isčŖ° savi55, zoals manager, in order to apply their payout, L Beadah
00:09:20for its account, 450 for your return payout, house, in order to hire pull it out, rose
00:09:21Pumpkin money, which means the amount of payout, Charles Funch, that
00:09:22is only the amount of payout, which means the amount akan was
00:09:23fƄtt man, the amount amount of payout, thank you all to reach out to sort of here,
00:09:24it means the amount of payout and payout Watan and payout, and payout
00:09:25100% to this is!!!
00:09:34This is fullad of cash coming in a bank, cash $2 million release, only payout payout,
00:09:36is only a billed of cash tax for gun wages and that is nelę lodved
00:09:36bid,
00:09:49Now I will post this, here I am going to try a lot of different sums, so insurance
00:10:15price is 1200 rupees, rent 10,000 rupees, miscellaneous expenses 14,000, cash in hand 3,000,
00:10:40investment asset 80,000 rupees, drawings 24,000, air conditioning over drawings plus indoor
00:11:01drawings, dividend from investment income, dividend received, 8,000 rupees, accrued dividend,
00:11:19accrued dividend from investment outstanding, so you have to subtract this outstanding,
00:11:26so you have to subtract this outstanding, 8,000 rupees ilai AIP in urhu outstanding irukkabdi
00:11:34na eval cash vandh rukkohun, 6,500 da vandh rukkohun, so you have to post 6,500 here, so we
00:11:41have posted all these items here, let us move on to the few more items to be posted, last
00:12:00time, depreciation on plant and machinery, cash system anandth, depreciation anandth, you
00:12:16debit pandh, debit pandh rukkohun, so what we can do, cash system anandth, cash basis anandth,
00:12:23cash basis anandth, cash basis anandth, you have requested to prepare trading and profit loss account balance sheet on the data following cash basis according,
00:12:38but depreciation on the data, depreciation anandth, you have debit pandh, kooda, right, book lal ardupundh, debit pandh, eich rukkohun,
00:12:45only cash basis, only non-cash basis so follow pandh, okay, unless real cash visits are payment daily, you should not record, but
00:12:55if you're the only one PNL alpundh debit pandh rukkohun, I go with that, is there any logic na, where episodes are put on the reclam channel,
00:13:03plant and missionary after depreciation 2 lakhs, 12,500, before depreciation, 2 lakhs, 50
00:13:11and this is 250, this is the exact cash basis.
00:13:17Depreciation or depreciation or depreciation or depreciation or depreciation, assets
00:13:22are reduced.
00:13:23Once you plan to sell, scrap, you can consider it, but if there is a book, what happens
00:13:33in your component, so I will just go with that.
00:13:37Depreciation for plant and machinery, 37,500, furniture fixtures, 8,000, and the furniture
00:13:49account, plant and machinery account, add it, money it all, more logically correct, capital
00:13:55account, 2 lakhs, 17,000, 11,000, 970.
00:14:01Telephone charges, telephone charges, 6,000, Sunday debtors, asset lapono, 1 lakhs, 70,500,
00:14:14stationery and printing, Pindalakonlapono, stationery and printing, value being 1,200, cash at bank,
00:14:24bank balance, 65,000, interest on loan, interest paid, interest paid being 8,000, interest 8,000,
00:14:42interest due but not paid on loan, interest due but not paid, minus outstanding, 1,500,
00:14:49actually pay 6,500, loan account, 90,000, clear.
00:14:59So, in the more, different, different sums of practice funding now, you can use the speed
00:15:06for solving the questions in your exams easily.
00:15:10Yes.
00:15:11Yes.
00:15:12Find out the GP, cash basis with it, that would be a BTA, cash basis system.
00:15:17Right.
00:15:21So, the total being 7,25,000, 7,25,000 and then the GP here being 2,55,000 by GP 2,55,000.
00:15:28And then the GP here being 2,55,000.
00:15:35YGP 25,000 by GP 25,000.
00:15:42Now, EB 450 subtracted by 2,400 EB rate, EB value, 2200.
00:15:58Salary, 40 minus 10 plus 2.5 minus 6, 26,500 for salary. Insurance, 1200 plus 370, 1570. Rent, 10,000 plus 2,000, 12,000 rupees.
00:16:23So, we are done all these posting. Find out the net profit.
00:16:30The total being 261,500, 261,500. Here you will be getting the net profit.
00:16:39The net profit in this case being 146,030.
00:16:46Are you getting this?
00:16:49Should be added here.
00:16:541,46,030.
00:16:59Now, the capital being 3,24,000 and a Grammaride.
00:17:05Then the total being 6,78,000.
00:17:13So, cash basis, mercantile basis vendor.
00:17:20This is the cash basis.
00:17:22The cash basis.
00:17:23The cash basis.
00:17:24The cash basis.
00:17:25The cash basis.
00:17:27The cash basis.
00:17:28The financial basis.
00:17:29The capital being with from that.
00:17:30Please do payment.
00:17:31That can be a payment so this can be closed this means onu,
00:17:34the answer is the broker changes the bank and the bank.
00:17:37There are no ads that are, non- ėź°i andćć from the bank,
00:17:39It depends what to beclosed this point.
00:18:40Shall I move on to the next one?
00:19:05Are you able to understand the logics?
00:19:12Question number 8.
00:19:19Question number 8.
00:19:26Question number 8.
00:19:33Question number 8.
00:19:35Question number 8.
00:19:36Question number 8.
00:19:37Question number 8.
00:19:38Question number 8.
00:19:39Question number 8.
00:19:40Question number 8.
00:19:41Question number 8.
00:19:42Question number 8.
00:19:43Question number 8.
00:19:44Question number 8.
00:19:45Question number 8.
00:19:46Question number 8.
00:19:47trading in P&L account. So, here also I am going to start from the
00:20:16trade adjustments. The following trial balance has been prepared from the books of Mrs. Saxena
00:20:25as on 31st to March 2023. After making necessary adjustments for deposition and feedstress
00:20:31assets, outstanding and accrued items and difference under suspenseful. Differences
00:20:36as a suspenseful. Outstanding expense, you will record. On the subsequent scrutiny, following
00:20:45mistakes were noticed. You are further told that closing stock and physical verification
00:21:02is clear and the term is used to be written. Closing stock up in the 31st March. If you
00:21:08have to be the same, you will be the same, you will be the same.
00:21:09Physical verification. Depressation on machinery and furniture have been provided rate of 15% and
00:21:2010% respectively on reducing balance method. Full year's depreciation is provided on addition.
00:21:26full year depreciation. Even the last rate, if they could have purchased the asset, it is eligible
00:21:33for the full year's depreciation. You are requested to prepare trading and profit loss account for
00:21:38the year-ended 31st March 2023 and a balance sheet. Represent the true and correct picture.
00:21:44error are rectified. So, as such now closing stock value, closing stock value, the value being 47,500.
00:22:06And we have been given two assets, machinery and furniture. Machinery minus 15 percentage,
00:22:35furniture minus 15 percentage. Furniture minus 10 percentage. Summa read
00:22:42not to be the same. Final of consular, what is the requirement? Automatically post
00:22:47to be the same. Full sum and read the same. Exam point of view, we have time to be the same. Okay,
00:22:52you will be the same. You will be the same. You will be the same. You will be the same.
00:22:54The same. You will be the same. So, if you have a decision. And you got to be the same.
00:22:56Asset sales. Debit sales. Nr. rukun theriyadha. Credit sales. Nr. rukun theriyadha.
00:22:58Adhul nr. yorku nr. okandu washterŃŠ¹o nr. this time point. You will go.
00:23:01See the adjustments and what is the requirement? Start, proceed the illustration. That is all.
00:23:06Is that okay? So, this is the adjustment for machinery and furniture. So, this is a trading
00:23:14account, depreciation for machinery as well as furniture. So, this is a short cut. Once
00:23:29we posted an adjustment twice where it is required to be posted thereafter I never bothered about
00:23:34that adjustment. Okay, a new machinery was purchased for Rs. 50,000 but the amount was
00:23:44wrongly posted to furniture account as Rs. 5,000. Pudus over machinery
00:23:49vayenge irukkaraang, adu undi enna pannitangang? Furniture account le poot tanga. Error, this
00:23:54error to be rectified. Okay, appa nye enna pannnou? Machinery account debit. Furniture
00:24:00tappa debit pannathe credit pannathe irukkano, adu 5,000. 5,000 credit pannappoodho.
00:24:0450,000 rupees machinery debit pannathe. Furniture tappa 5,000 credit pannathe. Debit pannathe
00:24:11adu cancel pannathe kukku, ninge eitha credit pannathe 5,000. Rendu kool difference 45,000
00:24:16erukkale, adu yeddullapai irukkko? Suspense account payurum, suspense account irukkku. This
00:24:20suspense account may disappear. Let's see. Let's see. Machinery akko debit.
00:24:2950,000. To furniture account, 5,000. To suspense account, 45,000. Okay. Suspense account,
00:24:5145,000. Clear? Now, cash received from debtas 5,600 was omitted to be posted in the ledger.
00:25:09Complete omission. Complete omission. Complete omission na ninge pae entry pass pani kala.
00:25:16Okay. 5,600. Cash received from debtas was omitted to be posted in the ledger. Clear?
00:25:31Okay. Okay. We assume that this is not posted only in the ledger support. Full omission
00:25:58ilda partial omission ilda partial omission ilda partial omission ilda partial omission. Question
00:26:05is not correct here. Cash received from debtas 5,600 was omitted to be posted in the personal
00:26:11ledger akkoon. Personal ledger akkoon nden debtas la madduu pottala apri inti soli klaam.
00:26:13isp debtas la maddu. Second end. Debtas la maddu pottala apri inti soli klaam.
00:26:18This is per debtas la pottala. Second end. Debtas kettand ta pagna varam poodu cash
00:26:24ulda quickon apri inti debtas, so debtas 2 debtas. 5,600.
00:26:27this will be a suspended.
00:26:30Cash will cut out.
00:26:32It is not complete omission.
00:26:35If you assume,
00:26:38the question is not clear.
00:26:41If you assume that
00:26:4245,000 credit and 5600 debit
00:26:46merge,
00:26:4839,400 is the number.
00:26:52If you guess the solution is the number of omission,
00:26:55I can guess, because of the experiences, you can guess, no issues, right, you can guess.
00:27:22Goods withdrawn by the preparator for personal use, but no entry was passed, no entry, no
00:27:31entry complete omission, so you have to pass the entry for this.
00:27:34Third one, complete omission, drawing second debit, two purchases, two purchases, stock
00:27:47and it should be credited in the purchases account, clear.
00:27:57Sales included 30,000 as goods sold in cash on behalf of Mr. Thakurlal who allowed 15%
00:28:07commission on such sales for which effect is to be given, okay.
00:28:14Who said it?
00:28:15Who said it?
00:28:16Saxena, okay.
00:28:17After sales included 30,000 as goods sold on cash on behalf of Thakurlal.
00:28:21That is why it's sold 30,000 as goods sold on cash on behalf of Thakurlal.
00:28:32The goods goes there and cash comes here. Cash is goods.
00:29:00So, 15 percentage commission will be now posted here.
00:29:29Is that ok?
00:29:36What are the 4,000 points?
00:29:43Commission may be not received.
00:29:49Not received in Chiklam.
00:29:50Outstanding of Chiklam.
00:29:53Not yet received up into.
00:29:56Ok.
00:29:57Now, in the fourth case.
00:30:04Now, in the fourth case.
00:30:11Commission 4500.
00:30:12Now, in the fourth case.
00:30:18Now, in the fourth case.
00:30:19In the fourth case.
00:30:20It's not my sales.
00:30:51So, I have to remove.
00:30:52And for that, I need to receive the commission and the commission are in corporate finance.
00:30:584500.
00:30:59Okay.
00:31:00So, this is not my sales.
00:31:01So, I have to remove.
00:31:02And for that I need to receive the commission and the commission are in corporate finance.
00:31:054500.
00:31:064500.
00:31:07Okay.
00:31:08Clear?
00:31:09So, Thakur Lalwudai sales is not my sales, but wrongly it is treated as sales here.
00:31:14I have posted.
00:31:15Now, by removing, it is not my sales.
00:31:17And the sales in the commission only 4500.
00:31:18That is what I have done.
00:31:19But cash, there is no cash.
00:31:20Either it may be adjacent in the cash or debt cost in the adjustment when the commission
00:31:21is not.
00:31:22So, my credit card is not my sales.
00:31:23Clear?
00:31:24Clear?
00:31:25So, Thakur Lalwudai sales is not my sales.
00:31:26So, Thakur Lalwudai sales is not my sales, but wrongly it is treated as sales here.
00:31:28I have posted.
00:31:29Now, by removing it is not my sales.
00:31:32And the sales in the commission only 4,500.
00:31:34That's the only 4,500.
00:31:35That's the only 5,000 points.
00:31:36That's the same.
00:31:37But, cash.
00:31:38And the cash is not my sales.
00:31:39I have to remove.
00:31:40cash either it may be adjusted in the cash or debt cost in the adjustment and let me
00:31:47check what they have done yeah so the amount payable to Thakurlal
00:31:55let's see Mr. T account 25500 I pass the entry here then you will be able to understand the
00:32:13logics. Thakurlalal because I have put it what is the correct entry cash upon debit to sales
00:32:26cash upon debit to Mr. T account 25500 to sales commission to sales commission
00:32:47what is the wrong entry what is the wrong entry what is the wrong entry so
00:33:05simple what is the right entry cash to sales cash to debit to sales
00:33:12what is the right entry now rectification entry cash one problem it is correct
00:33:23Tappapapot sales inna cancel score out pundnou so sales inna debit pundi kundi kundi kundi kundi kundi kundi kundi
00:33:30kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi kundi k
00:34:00T credit club 25,500 ohm, sales commission 4500 creditum na paneer.
00:34:06Is that clear?
00:34:07Hope you will be able to understand the logic here.
00:34:12So with that we have posted everything, we have posted everything.
00:34:17In the adjustment entry level Padigna, suspense account debit club 5600, credit club 45000
00:34:25ends with 39,400 in the credit side, already 39,400 in the debit side, appa it is corot item.
00:34:34It is ready, ledger akkonla, adjust konla, suspense akkon will disappear.
00:34:38At every mission anna, irikkan paathuk, avuladha, here after the illustration is the normal
00:34:43one.
00:34:44Machinery, furnitures iddallami irukku iddallam potriyo inddallam, let's see, I will start from
00:34:50machinery to cash at bank varikkum or opening stock varikkum potriyo indhikla.
00:34:54I will try to finish off, up to this first of all.
00:35:03In the machinery paathigna, in the machinery paathigna, 15 percentage depreciation sohla
00:35:10irukkaraaga, adawodhu, machinery yawoday value, arulandhu 15 percentage depreciation ni
00:35:18yawoday value yawoday value, yawoday, yawoday.
00:35:25closing WD value. Okay. Here, after depreciation, all these values after depreciation, closing
00:35:42WD value 1 lakh 70,000 rupees. Depreciation rate 15% solleh irukkaraan. Api na andar uthoong? Okay.
00:35:57It is 100 raha irindha, it is 15 rupees, it is 85. Noorubha opening leandha, 15 percentage
00:36:03depreciation poha, closing level erukko, 85 rupees are andar uthoong. 1 lakh 70,000 api na andar
00:36:09uthoong, after depreciation, around 15 percent depreciation poha irukkara value 1 lakh 70 percent.
00:36:14Then do the cross multiplication. 1 lakh 70 to 15 by 85 poting na, the depreciation should
00:36:22be 30. Initiala, itoode value renta leksha arubha irukkunao. Initiala renta leksha arubha
00:36:26irukkunao. And the person, 15 percent is depreciation nukpana irukkara, poha, year endala 2 lakh
00:36:3170,000 api na andar uthoong. Clear? Anana, there is an error. 50,000 ikkuk pudusha
00:36:42or asset vangki irukkutha, onge mothkama vittu tawangu. Ip enna pannu ee akkunao? Ito tappu,
00:36:49pudusha enna pannu pannu porai? Machinery yawode value 2 lakhs. Add purchases 50,000. 2 lakhs, 50,000 rupees. Now, calculate the depreciation
00:37:07points. Ip dhikida nengi 15 percentage pannu. Yawode value, 37,500. The depreciation in this
00:37:13case being 37,500. Clear? 30,000 depreciation point rupee ke, but the rectified one is 37,500.
00:37:22So, you have to post that 37,500 rupees in your gain below code. Clear?
00:37:34Machinery yawode depreciation 37,500. Closing value of the machinery being 2 lakhs, 12,500. 2 lakhs,
00:37:4912,500. Refer working note. Clear? Clear? Let us go for the furniture. Furniture adehyam madari,
00:38:1110 percentage depreciation. Initial 100,000 rupees. Depreciation 10,000 rupees.
00:38:18Thunnoorva will be the closing value. Bookkla irukkara value 49,500. Api ngatthu closing value.
00:38:24Depreciation 10,500. Api ngatthu closing value, futur? 49,500 inti 10 by 90 put itidekna,
00:38:335,500. Furniture should be 55,000. Furniture should be 55,000. Opening furniture value being 55,000.
00:38:42Opening furniture value being 55,000, but there is an error in furniture.
00:38:49Tewelem over 5,000 rupees exists at debit furniture, reverse for now.
00:38:54By rectifying this, the furniture value will be decreasing by 5,000 rupees, okay.
00:39:00Adjustment, rectification.
00:39:04Now this value being 50,000, now this value being 50,000 rupees, 55 minus adjustments
00:39:115,000 for a 50,000 rupees.
00:39:15Now you can claim the depreciation as per the depreciation rate applicable for that which
00:39:19is 10 percentage, 5,000 rupees, 45,000 will be the closing value.
00:39:27So here furniture being 5,000 depreciation, here the value being 45,000, is that clear?
00:39:37Go home and try this illustration yourself, you will understand the logics.
00:39:41Clear?
00:39:42Sunri debtors, in debtors also we have the adjustments, 38,000, but 5,600 should be reduced, so debtors
00:39:48value being 38,000 minus adjustment 5,600.
00:39:58What is the final debtors here?
00:39:5930 to 400 rupees, 30 to 400.
00:40:05Drawings 28,000, so capital minus drawings 28,000.
00:40:11Which as usual the traveling expenses can be debited, 6,500.
00:40:12Insurance can be debited.
00:40:13Insurance can be debited, 6,500.
00:40:14Insurance can be debited.
00:40:151,500.
00:40:161,500.
00:40:171,500.
00:40:181,500.
00:40:191,500.
00:40:201,500.
00:40:211,500.
00:40:221,500.
00:40:231,500.
00:40:241,500.
00:40:251,500.
00:40:261,500.
00:40:271,500.
00:40:281,500.
00:40:291,500.
00:40:301,500.
00:40:311,500.
00:40:321,500.
00:40:331,500.
00:40:341,500.
00:40:351,500.
00:40:361,500.
00:40:371,500.
00:40:381,500.
00:40:391,500.
00:40:401,500.
00:40:411,500.
00:40:421,500.
00:40:431,500.
00:40:441,500.
00:40:451,500.
00:40:461,500.
00:40:471,500.
00:40:481,500.
00:40:491,500.
00:40:501,500.
00:40:511,500.
00:40:521,500.
00:40:531,500.
00:40:541,500.
00:40:551,500.
00:40:561,500.
00:40:571,500.
00:40:581,500.
00:40:591,500.
00:41:001,500.
00:41:01rent 5000, cash in hand and bank, bank 18500, cash 7800, stock in trade in the beginning
00:41:29opening stock, 80,000 rupees. So, you will get a lot of opening, eye opener like,
00:41:43you will get a lot of money, you will get a lot of money, you will get a lot of money. So, stock in trade
00:41:53where you can put it on, am I right? Prepaid insurance and the rest, debit seller. Prepaid
00:42:06insurance should be posted in the asset side, prepaid insurance,
00:42:12250, miscellaneous expenses, PN Telephone debit side, 21,200, discounts debit side of PN Telephone,
00:42:291500, printing and stationery or discounts 1200 okay, this being 1200,
00:42:39printing and stationery, 1500, purchases less return, 460, here is an adjustment, 5000 rupees,
00:42:58subtract punding now 45,000 drawings, other drawings are going to be set the law, 5000,
00:43:09air connect 28000 drawings, stock drawings into a part of drawings of 28 plus 5, 33 will be the
00:43:15total drawings now, depreciation, machinery and furniture 30 and 5500 was inflated, 30 and
00:43:235500, current rate adjusted one, right? Suspense account got eliminated, Suspense account got eliminated,
00:43:38clear?
00:43:39Now, debit side of the trial balance is completely over.
00:43:52Now, debit side of the trial balance is completely over.
00:43:54Let's go for the credit side.
00:44:09These are the items are there, credit side.
00:44:24So, if your son has filed a deal with cash, you can come to the cash, you can come to the cash,
00:44:39but the money payable to talk remains outstanding. So, if you have a doubt, you can refer to the book and refer to the book, you can answer the question.
00:45:02so dual possibilities are there so no need to worry about that so in the
00:45:10manner questions could you doubt the other way also possible is that clear now
00:45:20centric creditors 8,200 82,000 sorry 82,000 capital account 2,45,750 outstanding
00:45:37expenses salaries 1,500 printing 600 audit fee audit fee 1,000 bank interest bank
00:46:06interest outstanding expenses are that income that there is no doubt about that in the
00:46:12outstanding expenses there is no doubt about that in the bank interest there is revenue
00:46:18so that's why I have income that is correct bank interest value being 1,200 discounts credit
00:46:32seller 1,800 sales less return 6,50,000 6.8 minus 0.3 sales commission 4,500 Mr. Thakur
00:47:0125,500 payable to him in that will outstanding expenses like bank interest outstanding expenses
00:47:08there is no doubt about that in the bank interest in the bank interest that you have no doubt about that
00:47:15but by experience I can guess salaries printing expenses and audit fee may be outstanding
00:47:19expenseo and FOR$3 a cost left payable.
00:47:20& the bank interest in will not check out the answer as something back will be financed
00:47:21and when you have money doing if you have income based in this bank interest money
00:47:23in the bank interest that the bank interest should keep welded into ETS & I don't get
00:47:26The question is not presented properly, this is an example of the printing mistake.
00:47:33Alignment mistake is the alignment mistake.
00:47:38Alignment mistake means you have to do outstanding expenses.
00:47:41If you have to do outstanding expenses, you will know the 3 outstanding expenses.
00:47:45Underline, you will have to do an indent.
00:47:50In the book, you will know the wrong way.
00:47:56So, these are the errors possible.
00:47:59Now, I have posted all the credit items also.
00:48:05Let us now tally the trading and PNL SLS balance sheet one by one.
00:48:126,97,500.
00:48:216,97,500.
00:48:24And you will get the GP being 1,62,500.
00:48:31Here GP, 1,62,500.
00:48:38If I tally this, what about your net profit?
00:48:46Verify will be able to get this value or not.
00:48:50Use like calculator intensively.
00:48:52I think 40,600, I will add this with the capital account.
00:49:07Are you able to get this one?
00:49:13Balance sheet total of balance sheet total of balance sheet.
00:49:20Capital being 2,53,350.
00:49:26Total of balance sheet 3,63,950.
00:49:383,63,950.
00:49:39Hope you will be able to now get this answer.
00:49:45So, we will be able to now get this answer.
00:49:46We will be able to now get this answer.
00:49:47We will be able to now get this answer.
00:53:01So,
00:54:07Also,
00:54:33can go and refer that easily. So, become mastered by learning all the things.
00:54:48Let us now move on to the next. So, question number 9, training and Pindalagkot and then
00:54:57balance sheet. As usual, I will start with the adjustments. The following trial balance
00:55:15has been extracted from the books of Mr. Akarwal Assange 31st to March 2023. Additional information
00:55:23are there. Additional information, first, sales include 60,000 tweds goods for cash on account
00:55:34of joint venture with Mr. Reddy who incurred 800 as forwarding expenses. The joint venture
00:55:41earned a profit of 15,000 to which Mr. Reddy is sent a till to 60 percentage.
00:55:45So, this is the result of the business. The owner is ready to make a joint venture business.
00:55:54It is a sales sales sales. But I need to know what is the profitability of this business only.
00:56:02So, the other business simply remove. So, 60,000 remove.
00:56:09Minus 60,000. Clear? Next.
00:56:14The motor car account represents an old motor car which was replaced on 1-4-20-22 by a new
00:56:30motor car costing 1,20,000 with an additional cash payment of 40,000 laying debit to purchase
00:56:36of the country. So, what is the price of the purchase account? Motor car. Motor car. Right.
00:56:46Motor car account represents an old car which was replaced. Current year will be replaced when
00:56:56they will pay $2-25,000.
00:57:20Laying debit to purchase account. That is going to be paid account. Purchase account debit account. Error of principle. Car, what is the correct entry? What is the wrong entry? Wrong entry, we are pretty sure that they have debited to the which account. Purchase account debit account. Right.
00:57:48Depression details. P.B. bank allowed an overdraft limit against the hypothetical of stocks keeping a margin of 20 percentage. The present balance is the maximum as permitted by the bank. Interesting. Overdraft you have to get a loan.
00:58:14There are some underlying deposits. Well, now it'sŠ°Š»Šøous. Current loan. Maximum, where are the amount of money?
00:58:24Maximum, where are the amount of money? Stock is if you are buying, loan is a maximum. Current loan is a maximum.
00:58:34current loan is 60,000 which is equivalent to 20% of the stock stock value is 3 lakhs
00:58:45am I right closing stock value where data 3 lakhs hidden details we found out that as
00:58:53missing data ok 9th question ok Paklam has allowed an overdraft limit against
00:59:13hypothesis of stocks keeping margin of 20 percentage ok probably purchases I am not
00:59:20sure now closing stock value we can assume this way bank overdraft now now closing stock
00:59:37but opening stock we have 50,000 rupees opening stock we have being 50,000 rupees
00:59:46sentry data includes 4,000 due as due from Mr. Trivedi and sentry data includes 7,000 payable to him
00:59:54mutual ovings one of all they have to pay their money and pay their money to pay mutual ovings
01:00:01or positions from the income that i will pay the money to pay it now becoming an rovings
01:00:09or when they are paying it later I am going to pay it so i will have to pay for the budget
01:00:13they are Yes He will have to pay for 4,000 to 7,000 to 7,000 which is lower will be subtracted in debtors as well as in creditors
01:00:18debtors as well as in creditors. So, debtors slim 4000 as subtracted, minus 4000, creditors slim 4000 subtracted. Clear? Sir, 7000 said, sir. 7000 said,
01:00:39So, that is the lower number. Fourth one. Fourth one. Fourth one, we have adjusted. Car, I know, I know, I know. Now, here.
01:01:03In the year-end, outstanding rent amorted Rs. 6000 and you are informed that 50% of the total rent is attributable towards Agarwal's resident eventually. Outstanding rent on the RRB, 50% is the RRB, Agarwal would have.
01:01:21For rent, add outstanding 6000. Adule 50% of in the end of the 20th drawings. In the value-le, half and the end of the 20th drawings.
01:01:43Drawings.
01:01:44It should go to the drawings.
01:01:49Is that clear?
01:01:5018 plus 6, 24.
01:01:5224.
01:01:5312,000 rupees only debited to the PNL.
01:01:56Another 12,000 will go to the drawings.
01:02:00Is that clear?
01:02:05Deposition to be provided on motor car at the rate of 20% excluding sold item.
01:02:11With that, you can see that you can see that you can see the depreciation claim.
01:02:15You can see that you can see the depreciation claim.
01:02:18So, you can see that you can see the depreciation claim.
01:02:21Now, let me go for this motor car.
01:02:27Motor car is the case.
01:02:30Second point.
01:02:32Old car is the case.
01:02:35Entry is the case.
01:02:38Wrong entry.
01:02:40Inno?
01:02:41Wrong entry.
01:02:42Inno?
01:02:43Inno?
01:02:44Purchase is upon debit to cash and put.
01:02:47Purchases to cash.
01:02:49Evalu?
01:02:5040,000 rupees.
01:02:51The cash payment is only 40,000 rupees.
01:02:53The cash payment is only 40,000 rupees.
01:02:57That is actually old car.
01:02:58Inno?
01:02:59Inno?
01:03:00The cash payment is only 40,000 rupees.
01:03:02Inno?
01:03:03Inno?
01:03:04Inno?
01:03:05Inno?
01:03:06Inno?
01:03:07Inno?
01:03:08Inno?
01:03:09Inno?
01:03:10Inno?
01:03:11Inno?
01:03:12Inno?
01:03:13Inno?
01:03:14Inno?
01:03:15Inno?
01:03:16Inno?
01:03:17Inno?
01:03:18Inno?
01:03:19Inno?
01:03:20Inno?
01:03:21Inno?
01:03:22Inno?
01:03:23Inno?
01:03:24Inno?
01:03:25Inno?
01:03:26Inno?
01:03:27Inno?
01:03:28Inno?
01:03:29Inno?
01:03:30Inno?
01:03:31Inno?
01:03:32Inno?
01:03:33Inno?
01:03:34Inno?
01:03:35Inno?
01:03:36Inno?
01:03:37Inno?
01:03:38Inno?
01:03:39Inno?
01:03:40Inno?
01:03:41Inno?
01:03:42Inno?
01:03:43Inno?
01:03:44Inno?
01:03:45Inno?
01:03:46Inno?
01:03:47Inno?
01:03:48Inno?
01:03:49Inno?
01:03:50Inno?
01:03:51Inno?
01:03:52Inno?
01:03:53Inno?
01:03:54Inno?
01:03:55Inno?
01:03:56Correct entry, new car will come and old car will come.
01:04:00Old car will come additional cash.
01:04:03If you have a book, the cash will add new car value.
01:04:08There will be profit or loss on exchange.
01:04:11So, we got the profit.
01:04:13Rectification entry will come.
01:04:15Corrections are required.
01:04:18Wrong are required.
01:04:21Then, car new one debited.
01:04:29120.
01:04:32Car new old, you can score out.
01:04:36New old, you can score out.
01:04:39Car is 56,000.
01:04:41If you have a score, it will be 64,000.
01:04:44This is single entry.
01:04:46Okay.
01:04:48And if the car being 64,000 debit to purchases 40,000 to profit on exchange 24,000.
01:05:09In the entry point, car will value now Maribuchi, 1,20, Maribuchi.
01:05:13Then, you can claim the depreciation on this 1,20,000.
01:05:18You can claim the depreciation on this 1,20,000.
01:05:20Clear?
01:05:21So, this is always about exchange based illustration.
01:05:26ļæ½side are required.
01:05:27SINGRA die per share look, in the book UKćŖć©,
01:05:28where your borrowing date is when the exchange sells for month.
01:05:312023.
01:05:32godliness.
01:05:33You can see, when the betting starts to Gel entry with me,
01:05:34Waage also is a bullish export agreement.
01:05:36Remember this is not over.
01:05:38at the market.
01:05:39When weēgy, companiesrockå©,
01:05:41your borrowing date numbers will yield.
01:05:43She needs to pay Mark billionaire.
01:05:44Tmediate.
01:05:45Is that okay?
01:05:48Okay.
01:06:01In the inventory,
01:06:04stocks keeping a margin of 20%
01:06:09Closing stock value is 20% margin.
01:06:19Balance is 80% loan.
01:06:25Currently, the loan amount being 60,
01:06:30which is equal to 80%.
01:06:3480 percentage.
01:06:3680 percentage 60 earnish,
01:06:38100 percentage is 75.
01:06:41I have 20 percentage
01:06:44and I have 80 percentage.
01:06:48Stock value is 80% loan.
01:06:52I have 20 percentage
01:06:54but now I stand corrected.
01:06:56Whatever the loan they have borrowed,
01:06:58out of that loan,
01:07:0080 percentage is offered.
01:07:02Okay.
01:07:03Which is 80 percentage of the stock value.
01:07:05Stock value is 75,000 earnish,
01:07:0780 percentage is 60.
01:07:10So, we got all these things.
01:07:12So, closing stock also we got.
01:07:14That is all.
01:07:15Now, we can solve this illustration.
01:07:16In the adjustments break,
01:07:18topic is over.
01:07:19In the adjustments break,
01:07:20it is only posting.
01:07:22In the email,
01:07:23you can join and post it.
01:07:24Speed up.
01:07:25Electricity and telephone.
01:07:27I think this is not required.
01:07:28Right?
01:07:29Yes.
01:07:30Purchase.
01:07:31680.
01:07:32680.
01:07:33690.
01:07:34690.
01:07:35690.
01:07:36I think this is not required.
01:07:37Right?
01:07:38I think this is not required.
01:07:40Right?
01:07:41Yes.
01:07:42Purchase.
01:07:44680.
01:07:47Yes. Purchase. 680. That's 40.000 Rs. 640.000.
01:08:07Debt task. Debt task. 96.4000 mutual woe wings. The 4000 inge subtracted. Debt task and credit
01:08:24task minus panamalia. 4000 danae. Yes. Inge minus panamalia. So, 92,000. Bad debt.
01:08:36Drawings on the capital. Minus drawings. Drawings 36,000. Bad debt 2,000. Furniture fixtures
01:08:5281,000. What is the amount of depreciation for that? Depreciated value. That's the outer
01:09:06capital of the capital of the capital of the capital of the capital. 81,000. Office equipment.
01:09:11Depreciated value. That's the 54,000. Salaries. No adjustments here. 24,000. Advanced salary.
01:09:28Asset style is $1,500. Carriage in trading item is $6,500. Carriage inward. Miscellaneous
01:09:48expenses P N L C M L A Debit per 90 item $12,000. Traveling expenses P N L C M L A Debit per
01:09:5790 item the value being $6,500. Stationary and printing $1,500. Rent $18,000 plus $6,000
01:10:17$6,000 24. That is the two drawings. 18 plus $6,000 minus $12,000 24,000. And the minus
01:10:29P N D P N P N A isments of the drawing part of the drawing. Electricity and telephone EB and
01:10:42telephone $6,800. So, hereafter the posting may be pretty simple, right? Hope, you will be able
01:10:43So, here after the posting may be pretty simple right, hope you will be able to understand
01:10:56the wrong entry, correct entry also, wrong entry and correct entry also, that means score over. Electricity and telephone, then cash length balance
01:11:19apartment, cash 5,900, bank 53,000, opening stock 50,000,
01:11:45repairs can be debited to the PNR, 7,500, motor car, 56, 64,000, add 1,20,000,
01:12:0920 percentage depreciation claim plan, abitualli are in the sold, pay the purchase price,
01:12:1824,000 is the depreciation for car, 1,20,000 or 20 percentage, 24,000 is the depreciation, depreciation
01:12:31Debt decision for the balance card value in the 96,000, I am right. Debt decision for
01:12:39furniture and office equipments 9,000 and office equipment 6,000. Trial balance letter
01:12:52debit items over. Let's now go for the credit side items. Okay.
01:13:06You will have sales on the 8,38,60 less than you know. Then the sales being 7,78,200 capital
01:13:32income being 187, century credit tax 114,000 less than you know. Mutual ovings
01:13:421,10,000. Outstanding salary liability side level around it. 2,500. Sale of old papers other
01:13:55income. Old newspaper sold or papers sold. 1,500. Bank overdraft. Bank loan. Loan liability
01:14:08side level photograph 60. Closing stock when the 75,000 I am going to do it. 75,000. In
01:14:17order of balance sheet asset sales stock. 75,000. And this is the profit on exchange. So, profit
01:14:30on exchange. Another 24,000. Another 24,000. Now, tally the trading and pin look on to find
01:14:40out the GP. Here this value being 8,53,200. 8,53,200. And your GP being 1,56,700. I transfer the GP
01:15:03here. 1,56,700. P and the total total. Okay. So, what they have done is, in the profit
01:15:19Ullar, they have included joint venture profit. They have included joint venture profit profit.
01:15:24So, what they have done is, in the profit. So, we are preparing for Agarwal. Agarwal
01:15:29Agarwal. Agarwal. Agarwal one day share one day balance 40 percentage one day. Agarwal
01:15:36is there okay. So, we are preparing for Agarwal. Agarwal one day share one day balance 40 percentage
01:15:43is there. So, this is 40 percentage one day Agarwal. Here we go to account credit sale
01:15:48is there. Join venture profit. Joint venture profit. 6,000. Is there okay? The
01:18:41Now, if I tally the PN below count, I think the total being 1 lakh 88,200, then net profit
01:18:52being 76,900.
01:18:55So the net profit will be addable here, 76,900.
01:18:57So the net profit will be addable here, 76,900.
01:18:58What is the ultimate value?
01:18:59Okay.
01:19:00Okay.
01:19:0112,000.
01:19:02So the net profit will be addable here, 76,900.
01:19:06So the net profit will be addable here.
01:19:07So the net profit will be addable here, 76,900.
01:19:09What is the ultimate value?
01:19:112 lakhs 25,900.
01:19:12If I total the balance sheet, I hope it will be getting tally.
01:19:18Okay.
01:19:19If I total the balance sheet, I hope it will be getting tally.
01:19:21Okay.
01:19:23Okay.
01:19:24Outstanding rent.
01:19:25Outstanding rent.
01:19:26Okay.
01:19:27Outstanding rent.
01:19:28Outstanding rent.
01:19:29Outstanding rent..
01:19:30How about you?
01:19:31Outstanding rent.
01:19:32Outstanding rent.
01:19:33Outstanding rent.
01:19:34That is a 6,000.
01:19:35Stand Corrected.
01:19:36Okay?
01:19:37Stand Corrected.
01:19:38If I total the value of balance sheet being 4 lakhs 58,400.
01:19:434 lakhs 58,400.
01:19:45Hope now it is tally.
01:19:49Check pannenge.
01:19:52Check it again. Hope it is tallying no. Yes. So rest I will continue in the next class.
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