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Q3 Navin Packaging

The trial balance as of December 31, 20X1 includes assets like packaging equipment, office equipment, packaging supplies, office supplies, trade receivables, and cash. Liabilities include bills payable, trade payable, and advances received from clients. Equity includes share capital and retained earnings. The income statement shows revenue of Rs. 41,260 and expenses like salaries, electricity, advertisement, telephone, and depreciation, with a net profit of Rs. 1,485. The balance sheet lists non-current assets, current assets, liabilities, and equity of Rs. 42,850 each.

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Rishabh Chawla
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703 views3 pages

Q3 Navin Packaging

The trial balance as of December 31, 20X1 includes assets like packaging equipment, office equipment, packaging supplies, office supplies, trade receivables, and cash. Liabilities include bills payable, trade payable, and advances received from clients. Equity includes share capital and retained earnings. The income statement shows revenue of Rs. 41,260 and expenses like salaries, electricity, advertisement, telephone, and depreciation, with a net profit of Rs. 1,485. The balance sheet lists non-current assets, current assets, liabilities, and equity of Rs. 42,850 each.

Uploaded by

Rishabh Chawla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Trial balance as on 31.12.20X1 (Amount in Rs.

)
Packaging Equipment 30,000
Accumulated Depreciation on
9,000
Packaging Equipment
Office equipment 10,000
Accumulated Depreciation on Office
3,000
Equipment
Packaging supplies 6,280
Office supplies 2,650
Trade receivables 2,170
Cash 8,820
Prepaid rent 9,600
Bills payable 2,500
Trade payable 1,360
Advance received from clients 1,800
Share capital 35,000
Retained earnings 1,350
Dividends 2,500
Revenue from services 41,260
Salaries expense 14,910
Electricity expense 2,340
Advertisement expense 4,800
Telephone expense 1,200
Total 95,270 95,270
Income Statement Balance Sheet
Revenue from services 43690 Assets
Less: Non Current Assets
Salaries expense 15880 Packaging Equipment
Electricity expense 2340 Less: Accumulated Depreciation
Advertisement expense 4400 Office Equipment
Telephone expense 1400 Less: Accumulated Depreciation
Depreciation on Packaging equipment 3000 Current Assets
Depreciation on Office equipment 1000 Packaging Supplies
Packaging Supplies consumed 3920 Office Supplies
Office Supplies consumed 1460 Trade receivables
Rent Expense 7080 Cash
Accrued interest on Bills Payable 125 Prepaid rent
Revenue receivable
Income tax 1600 Prepaid Advertisement
Net Profit 1485

Liabilites
Equity
Share capital
Retained earnings
Less: Dividend
Non-Current
N/A
Current
Bills payable
Trade payable
Advance received from clients
Unpaid Salaries
Accrued interest on Bills Payable
Unpaid Telephone expense
Tax Payable
Amount

30000
12000 18000
10000
4000 6000

2360
1190
2170
8820
2520
1390
400
42850

35000
2835
2500 335

2500
1360
760
970
125
200
1600
42850

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