★ THE BALANCE SHEET PART : 2 ⚖️📑

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ALL ABOUT ACCOUNTING : 35th BLOG

                                                           ☆☆ACCOUNTING☆☆

 Hi 🙋 friend's.,

Today's discuss remaining part of balance sheet 📑

                                                       So let's discuss .....

              
                                                                        ★ THE BALANCE SHEET ★

☆ General format of a Balance sheet :

                                                                              [ FIRM NAME]                                                                                                                                            BALANCE SHEET 
                                                                                AS ON [DATE]                                                                          
LIABILITIES :                 
                                                                                 		ASSETS :                      
                                                                                    
 
Total Liabilities : 
                                                                                 		 
Total assets :
                                                                                    



For Eg :
Lets create a balance sheet of   ABC ENTERPRISE against this transactions :- 
1. Mr. Ram capital with net profit / loss is rs.             30,00,000
2. machinery purchase for produce a fabric is rs.        25,00,000
3. Furniture purchase for company is rs.                       5,00,000
4. Unsecured loan received from Mr. Shyam is rs.        5,00,000
5. Sundry creditors payable amount is rs.                    15,00,000
6. sundry debtors receivable amount is rs.                   20,00,000
7. Office staff salary payable is rs.                                 5,00,000
8. accounting fees payable is rs.                                        10,000
9. Tax deducted at source (TDS) payable  is rs.             1,00,000
10. Loan and advances receivable amount is rs.           10,50,000
11. Cash on hand is rs.                                                     1,25,000
12. (State bank of india) bank balance is rs.                  20,00,000
13. Duties and taxes  receivable amount is rs.                 1,50,000
14. Secured loan from XYZ FINANCE LTD.
      payable amount is rs.                                     27,15,000
                                             
- prepare a balance sheet for ABC ENTERPRISE against above declare transactions as on 01-July-2020

                                                             [ ABC ENTERPRISE ]                                                                                                                      BALANCE SHEET
                                                                                    AS ON 01-July-2020         
Particulars    Liability Particulars         Asset
Capital Account                                                                              Fixed Assets : 
Mr. Ram  :                                                  30,00,000                      Machinery A/c :                                          25,00,000 
                                                                                                         Furniture & Fixtures A/c :                             5,00,000
                                                                                                                                                                              ________
                                                                                                         Total :                                                          30,00,000
Secured Loan :
XYZ Finance ltd. :                             27,15,000

Unsecured Loans : 
Mr. Shyam :                                                 5,00,000

Sundry creditors :                                                                         Sundry debtors : 
Sundry payable :                                        15,00,000                     Sundry receivable :                                     20,00,000  

 Provisions :
 Salary Payable A/c :                                   5,00,000                                                  
 Accounting fees payable A/c :                      10,000

Duties & Taxes :
TDS Payable A/c :                                     1,00,000                     Loan & Advances (Assets) :
                                                                                                      Loan & Advances receivable A/c :                10,50,000
  
                                                                                                      Cash on hand : 
                                                                                                      Cash A/c :                                                        1,25,000

                                                                                                      Bank Accounts (Banks) :
                                                                                                      State bank of India A/c  :                               20,00,000

                                                                                   
                                                                                                      Duties & Taxes :    
                                                                                                      Central Tax A/c. (I/P)   :                                    50,000
                                                                                                      State/UT Tax A/c. (I/P) :                                1,00,000
                                                                                                                                                                      ___________
                                                                                                      Total :                                                             1,50,000 

______________________________________             ______________________________________                                                                                 
 Total Liabilities :                          83,25,000                  Total Assets :                                    83,25,000  ______________________________________             ______________________________________      




Remaining exercise and practices  discuss in 36th blog... 

                                                    So wait my 36th blog... 
 
                                                                        _________________________
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Comments

  1. AnonymousJuly 2, 2020 at 5:37 AM

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    ReplyDelete
  2. UKOWNJuly 3, 2020 at 5:59 AM

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