Question

2. Prepare a multiple-step income statement and balance sheet using the following information: (20 pts) Marketable security is a short-term investment Sundry debtors is accounts receivable Drawings are the same as dividends. The final debits and credits are \$180,250 NSBHandicraft Trial Balance as on March 31, 2019 Sr.No. Particulars Amount (INR) Dr. Cr 1 Bill Payable 5,000 2 Insurance Charges 5,000 3 Owner Investments 80,000 4 Unearned Revenue 4,000 5 Bank Loan 25,000 6 Marketable Security 10,000 7 Accumulated Depreciation- Equipment 14,000 8 Depreciation Expenses - Equipment 3,000 9 Rent 15,000 10 Outstanding Salaries 5,000 11 Machinery 30,000 12 Prepaid Rent 4,000 13 Sundry Debtors 15,000 14 Accrued Revenue 20,000 15 Unexpired Insurance 10,000 16 Vendor Payable 4,000 17 Drawings 2,000 18 Equipment 20,000 19 Maintenance Expenses 3,000 20 Accrued Expenses 1,000 21 Mics Expenses 2,000 22 Sales 42,250 23 Purchase 30,000 24 Taxes 11,250 Total 1,80,250 1,80,250

          2. Prepare a multiple-step income statement and balance sheet using the following information: (20 pts)
Marketable security is a short-term investment
Sundry debtors is accounts receivable
Drawings are the same as dividends.
The final debits and credits are \$180,250
NSBHandicraft
Trial Balance as on March 31, 2019
Sr.No. Particulars Amount (INR)
Dr. Cr
1 Bill Payable 5,000
2 Insurance Charges 5,000
3 Owner Investments 80,000
4 Unearned Revenue 4,000
5 Bank Loan 25,000
6 Marketable Security 10,000
7 Accumulated Depreciation- Equipment 14,000
8 Depreciation Expenses - Equipment 3,000
9 Rent 15,000
10 Outstanding Salaries 5,000
11 Machinery 30,000
12 Prepaid Rent 4,000
13 Sundry Debtors 15,000
14 Accrued Revenue 20,000
15 Unexpired Insurance 10,000
16 Vendor Payable 4,000
17 Drawings 2,000
18 Equipment 20,000
19 Maintenance Expenses 3,000
20 Accrued Expenses 1,000
21 Mics Expenses 2,000
22 Sales 42,250
23 Purchase 30,000
24 Taxes 11,250
Total 1,80,250 1,80,250

2. Prepare a multiple-step income statement and balance sheet using the following information: (20 pts)
Marketable security is a short-term investment
Sundry debtors is accounts receivable
Drawings are the same as dividends.
The final debits and credits are $180,250
NSBHandicraft
Trial Balance as on March 31, 2019
Sr.No. Particulars Amount (INR)
Dr. Cr
1 Bill Payable 5,000
2 Insurance Charges 5,000
3 Owner Investments 80,000
4 Unearned Revenue 4,000
5 Bank Loan 25,000
6 Marketable Security 10,000
7 Accumulated Depreciation- Equipment 14,000
8 Depreciation Expenses - Equipment 3,000
9 Rent 15,000
10 Outstanding Salaries 5,000
11 Machinery 30,000
12 Prepaid Rent 4,000
13 Sundry Debtors 15,000
14 Accrued Revenue 20,000
15 Unexpired Insurance 10,000
16 Vendor Payable 4,000
17 Drawings 2,000
18 Equipment 20,000
19 Maintenance Expenses 3,000
20 Accrued Expenses 1,000
21 Mics Expenses 2,000
22 Sales 42,250
23 Purchase 30,000
24 Taxes 11,250
Total 1,80,250 1,80,250

Added by Tina H.

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