Educational Wealth

<div dir="ltr" style="text-align: left;" trbidi="on">
                                           <a href="https://educational-wealth.blogspot.com/2019/07/solved-assighnments-spring-2019-aiou.html" target="_blank">Solved assignments aiou spring 2019</a><br />
Solved assighnment 438 aiou spring 2019<br />
 for answers please click on this link<br />
             <i><b><span style="color: red;"> <span style="font-size: large;">  <a href="https://www.youtube.com/watch?v=bJtGFwdMme8" target="_blank">first assignment 438 spring 2019 </a></span></span></b></i><br />
<br />
<div dir="ltr" id="docs-internal-guid-a889cec2-7fff-6afa-6dc6-28474b49af5c" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(Department of Commerce)</span></div>
<br />
<br />
<h2 dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Course: Principles of Accounting (438)</span></h2>
<h2 dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Level: B.A/B.Com</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Semester: Spring, 2019</span></h2>
<h2 dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Total Marks: 100</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Pass Marks: 40</span></h2>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">ASSIGNMENT No. 1</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(Units 1–4)</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: italic; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Note: You are required to solve all questions if you are unable to understand any question of assignment, </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: italic; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">do seek help from your concerned tutor. But keep in mind that tutors are not supposed to solve the assignment questions for you.</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.1</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">i.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Define the term “Accounting” and describe its objectives.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(10)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -54pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">ii.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Demonstrate how certain business transactions affect the elements of the accounting equation: assets=</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> Liabilities + Owner’s Equity.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(10)</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.2</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">What is single entry system of book keeping? Also describe the characteristics and limitations of single </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">entry system?</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(20)</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.3</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Mr. Bilal started a sole proprietorship business.  The business is newly established and Mr. Bilal hired an</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> accountant for keeping the journal updated.  Suppose you are the accountant of Mr. Noman’s business, prepare</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> the journal book for the month of October, 2018. You are also required to post journal entries into the ledger and prepare the trial balance. Detail of the transactions during October, 2018 are given as follows: </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(20)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 1.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Invested Cash Rs.2, 000, 000 & Equipment Rs.300, 000 in the business.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 3.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Purchased supplies for cash Rs.70, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 8.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Purchased a Truck for Rs.2, 200,000 paying cash Rs. 1,000,000 and a note payable for</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> the balance.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 15.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Purchased office equipment on account Rs.150, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 18.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Paid rent for October Rs.75, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 19.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Received cash for job completed Rs.120, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 22,</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Purchased supplies on account Rs.260, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 23.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Wages paid to employees Rs.410, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 25.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Paid premium on property insurance Rs.29, 6000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 26.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Paid cash to the creditors Rs.240, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 28.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Received cash Rs.140, 000 for job completed. </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 29.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Received an invoice for truck expenses, to be paid in November, Rs. 41, 000. </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 29.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Paid miscellaneous expenses Rs.33, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 30.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Paid wages to employees Rs.430, 000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 27pt; margin-top: 0pt; padding: 0pt 0pt 0pt 63pt; text-align: justify; text-indent: -63pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">October 3 1.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Withdraw cash for personal use Rs.300, 000.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.4</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">The following Trial Balance has been extracted from general ledger of </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><br /></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Mr. Ahmed.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(20)</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">TRIAL BALANCE</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">December 31, 2018</span></div>
<div align="left" dir="ltr" style="margin-left: 27pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="283"></col><col width="101"></col><col width="111"></col></colgroup><tbody>
<tr style="height: 15pt;"><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">PARTICULERS </span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Dr. (Rs.)</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Cr. (Rs.)</span></div>
</td></tr>
<tr style="height: 27pt;"><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Cash</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Accounts Receivable (Debtors)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Inventory (January 1, 2018)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Office Equipment</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Accounts Payable (Creditors)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Notes Payable (Bills Payable)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Insurance</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Office Supplies</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Rent Expenses</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Office Salary Expenses</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Ahmed’s Capital</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Ahmed’s Drawings</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Advertising Expenses</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Delivery Expenses</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Purchases</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Sales</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Freight In</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Purchases Returns</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Sales Returns</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">500,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1,000,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">700,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">460,000</span></div>
<br />
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">80,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">40,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">60,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">120,000</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">90,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">20,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">50,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1,500,000</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">20,000</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">60,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">______</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre;">4,700,000</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><br />
<br />
<br />
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">800,000</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">300,000</span></div>
<br />
<br />
<br />
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1,250,000</span></div>
<br />
<br />
<br />
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">23,00,000</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">50,000</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">______</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre;">4,700,000</span></div>
</td></tr>
</tbody></table>
</div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Adjustments:</span></div>
<ol style="margin-bottom: 0; margin-top: 0;">
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Merchandize Inventory on December 31, 2018 is valued at Rs.850,000/-</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Raise an Allowance for Depreciation on Office Equipment Rs.60,000/-</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Insurance Unexpired is Rs.20,000/-</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Office supplies consumed Rs.30,000/-</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">A bill of Rs.10, 000/- in respect of advertising is outstanding.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
</li>
</ol>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.5</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">On 1</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">st</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> January, 2011 Mr. Noman purchased Machinery for Rs. 39,000. The machine has an estimated </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">salvage value of Rs. 3,000 and an estimated useful life of 5 years.  The depreciable cost of the asset is</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> Rs. 36,000 (39,000-3,000).  The machine will produce 720,000 units during its useful life. The units </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">produced first through fifth year are 180,000 units, 156,000 units, 138,000 units, 126,000 units and 120,000 </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">respectively. </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(20)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: italic; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: italic; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: italic; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">You are required to prepare the Depreciation schedule using the units of production method:</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="display: inline-block; position: relative; width: 100px;"></span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 13.999999999999998pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">ASSIGNMENT No. 2</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(Units 5–9)</span></div>
<h2 dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Total Marks: 100</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Pass Marks: 40</span></h2>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.1</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Ruhi Trader keeps his record of business under single entry system and wants to know the operating </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">result of his business. He provides the following data as on 31</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">st</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> December, 2017 and 31</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">st</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> December, 2018 of </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">his business:</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(20)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">As on 31</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">st</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> December, 2017: Cash in hand Rs. 25,000; Cash at bank Rs. 40,000; Account Receivables</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> Rs. 70,000; Stock Rs. 65,000; Land & Building Rs. 300,000, Office Furniture Rs. 150,000, Office Equipment</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> Rs. 80,000; Account Payables Rs. 95,000; Bills Payables Rs. 30,000.</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">As on 31</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">st</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> December, 2018: Cash in hand Rs. 40,000; Cash at bank Rs. 60,000; Account Receivables</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> Rs. 110,000; Stock Rs. 85,000; Account Payables Rs. 75,000; Bills Payable Rs. 45,000.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Depreciation @ 5% on Land & Building; @ 15% on Office Furniture; @ 10% on Office Equipment is</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> charged annually on original cost.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">During the year Ruhi trader withdrew Rs. 158,000 and invested Rs. 112,000 into the business. </span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">You are required to:</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -54pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">i.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Prepare the statement of affairs as on 31-12-2017 and as on 31-12-2018 to calculate the amounts of</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> capitals.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -54pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">ii.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Prepare statement of Profit & Loss account for the period ended on 31-12-2018</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.2</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Mr. Naeem has a trading business of computer accessories. The business has been successfully run </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">from last 10 years and is considered as one of the leading trading store of the city. Recently, due to the increase </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">in volume of the transactions, Mr. Naeem is unable to identify the difference in the balances of Cash book and</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> the pass book. Details of the transactions are given in the preceding paragraph.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(20)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">On 31</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">st</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> March, 2018 the pass book showed a credited balance of Rs. 500,000 and as per cash book is </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Rs. 408,750 of Mr. Naeem Trader. These are following discrepancy items between pass book and cash book:-</span></div>
<br />
<ol style="margin-bottom: 0; margin-top: 0;">
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; padding-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Cheque for Rs. 100,000 was paid in March 5</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">th</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">, 2018, but out of which Rs. 80,000 credited by the</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> bank on 25</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">th</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> March, 2018 and remaining balance on 5</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">th</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> April, 2018.</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; padding-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Interest on investments collected by bank Rs. 1,750.</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; padding-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Bank charges for the above period also debited in the pass book of Rs. 500</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; padding-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Cheque for Rs.85, 000 were issued to creditor but not presented into bank for payment till</span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> 31</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"><span style="font-size: 0.6em; vertical-align: super;">st</span></span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> March, 2018.</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: decimal; margin-left: 9pt; padding-left: 9pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">On 29 March, 2018 a cheque of Rs. 25,000 received was deposited into the bank but was </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">omitted to the entered into cash book.  </span></div>
</li>
</ol>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Required:</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;"> Prepare the Bank Reconciliation Statement under double balance method </span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.3</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">X and Y are carrying on business as general merchants, sharing profit and losses in the ratio of 2:3. </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Their balance sheet as on 31st December, 2018 is as under:</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(20)</span></div>
<br />
<div align="left" dir="ltr" style="margin-left: 27pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="165"></col><col width="108"></col><col width="111"></col><col width="107"></col></colgroup><tbody>
<tr style="height: 10pt;"><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Equities & Liabilities</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Amount</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Assets</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Amount</span></div>
</td></tr>
<tr style="height: 72pt;"><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Sundry creditors</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Bills payable</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">General reserve</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Capital X</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Capital Y</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">320,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">60,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">40,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">80,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">60,000</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Cash at bank</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Bills receivable</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Stock</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Investment</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Machinery</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Building</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">20,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">30,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">80,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">40,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">190,000</span></div>
<div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">200,000</span></div>
</td></tr>
<tr style="height: 8pt;"><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">560,000</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><br /></td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: right;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">560,000</span></div>
</td></tr>
</tbody></table>
</div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">It is decided to admit Z into the partnership on the condition that he would pay Rs.40, 000/- as capital on </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1st January. Goodwill is to be valued at 3 years purchase of 4 years average profit, the profit or loss for the </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">4 years are:</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 27pt; text-align: justify; text-indent: -27pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 6pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div align="left" dir="ltr" style="margin-left: 27pt;">
<table style="border-collapse: collapse; border: none;"><colgroup><col width="119"></col><col width="127"></col><col width="127"></col><col width="119"></col></colgroup><tbody>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">1st year profit</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">22,000</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">2nd year profit</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">16,000</span></div>
</td></tr>
<tr style="height: 0pt;"><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">3rd year loss</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">8,000</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">4th year profit</span></div>
</td><td style="border-bottom: solid #000000 0.5pt; border-left: solid #000000 0.5pt; border-right: solid #000000 0.5pt; border-top: solid #000000 0.5pt; overflow-wrap: break-word; overflow: hidden; padding: 0pt 5.4pt 0pt 5.4pt; vertical-align: top;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: center;">
<span style="background-color: transparent; color: black; font-family: "arial narrow" , sans-serif; font-size: 9pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">18,000</span></div>
</td></tr>
</tbody></table>
</div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">The new profit sharing ratio is 5:6:7</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 81pt; text-align: justify; text-indent: -81pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">Required:</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Give journal entries and show the balance sheet under the following methods of treatment, </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">of goodwill:</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">i.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Goodwill paid privately</span></div>
<ol start="2" style="margin-bottom: 0; margin-top: 0;">
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: lower-roman; margin-left: 9pt; padding-left: 18pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Goodwill paid in cash and retained</span></div>
</li>
</ol>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.4</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Short questions:</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(4x5=20)</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">(4x5=20)                                                                                                         </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: -36pt; margin-top: 0pt; padding: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">i.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">What is meant by dissolution of partnership? </span></div>
<ol start="2" style="margin-bottom: 0; margin-top: 0;">
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: lower-roman; margin-left: 9pt; padding-left: 18pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">What is realization accounts?</span></div>
</li>
</ol>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: -36pt; margin-top: 0pt; padding: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">iii.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">What are the implications of the Garner Vs Murry decision?</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: -36pt; margin-top: 0pt; padding: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">iv.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">In which situation the Garner Vs Murry is applicable? </span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Q.5</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Short questions</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 700; text-decoration: none; vertical-align: baseline; white-space: pre;">(4x5=20)</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: -36pt; margin-top: 0pt; padding: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: -36pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">i.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">How would you rectify the following errors:</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 81pt; text-align: justify; text-indent: -81pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">a.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Monthly total of Rs. 180 of discount allowed column of the cash book was posted to the credit of </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">discount received account.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 81pt; text-align: justify; text-indent: -81pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">b.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">An amount of Rs. 3,000 paid for erection of machinery was wrongly debited to wages A/c.</span></div>
<br />
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -54pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">ii.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Write down the formula for determining the net profit under net worth method.</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -54pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">iii.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">What will be the capital of the proprietor, if his assets are of Rs. 10,500,000 and liabilities are of </span><br />
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Rs. 5,070,500?</span></div>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-top: 0pt; padding: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -54pt;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">iv.</span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">    </span><span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">State with reasons whether the following items of expenditure are capital or revenue.</span></div>
<ol style="margin-bottom: 0; margin-top: 0;">
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: lower-alpha; margin-left: 36pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Telephone expenses </span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: lower-alpha; margin-left: 36pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Offices salaries</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: lower-alpha; margin-left: 36pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Purchase second hand truck</span></div>
</li>
<li dir="ltr" style="background-color: transparent; color: black; font-family: 'Times New Roman'; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; list-style-type: lower-alpha; margin-left: 36pt; text-decoration: none; vertical-align: baseline; white-space: pre;"><div dir="ltr" style="line-height: 1.7999999999999998; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: "times new roman"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre;">Paid for advertising</span></div>
<span style="color: red;"><b> For date sheet aiou spring 2019 click on this link </b></span><br />
<span style="color: blue;"><a href="https://www.blogger.com/u/1/null" target="_blank">Date sheet aiou MATRIC/ FA/PTC/CT spring 2019.. </a></span></li>
</ol>
<br />
<ol style="margin-bottom: 0; margin-top: 0;">
</ol>
<div dir="ltr" style="line-height: 1.2; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; padding: 0pt 0pt 0pt 36pt; text-align: center; text-indent: -36pt;">
For solved assignment 5404 1st assign click on this link<br />
                      <a href="https://educational-wealth.blogspot.com/2019/05/solved-assighnment-1423-aiou-spring-2019.html" target="_blank">5404  spring 2019 aiou </a><br />
<br />
For solved assignment 5404 2nd assignment click on this link<br />
                         <a href="https://educational-wealth.blogspot.com/2019/05/assign2solved-assighnment-1423-aiou.html" target="_blank">solved  assign# 2 aiou 5404 spring 2019</a><br />
                <b><span style="font-size: large;"> BSCS</span></b><br />
solved assignment   3497 spring 2019 click here<br />
                        <a href="https://konfect.blogspot.com/2019/08/solved-assignment-3497-aiou-spring-2019_30.html" target="_blank"> solved assignment 3497 aiou  </a></div>
<br />
<span style="color: blue;">   <span style="background-color: #ffd966;">AUTUMN 2019</span></span><br />
<span style="background-color: white;">
<span style="font-size: large;"><span style="font-size: large;"><u><span style="font-size: large;"><b><span style="color: red;">For other solved assignments click on this link</span></b></span>                         </u></span></span></span><br />
<h2 style="text-align: left;">
<span style="background-color: white;">
<span style="font-size: large;"><span style="font-size: large;">
<u>

<span style="color: blue;"><span style="font-weight: normal;">    </span><a href="https://educational-wealth.blogspot.com/2019/10/solved-assignments-autumn-2019-aiou-all.html"><span style="font-weight: normal;"> </span><span style="color: #0c343d;"><span style="font-size: small;">Solved assignments autumn 2019 aiou all codes</span></span></a></span></u></span></span></span></h2>
</div>