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M.330 An Aid to Accountancy—CBSE XII
Working Notes:
1. Dr. PROVISION FOR TAX ACCOUNT Cr.
Particulars ` Particulars `
To Bank A/c 15,000 By Balance b/d 15,000
To Balance c/d 25,000 By Statement of Profit and Loss (Bal. Fig.) 25,000
40,000 40,000
2. Dr. EQUIPMENT ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 2,50,000 By Depreciation A/c 9,000
To Bank A/c (Purchase) 50,000 By Bank A/c (Sale)—Balancing Figure 35,000
By Loss on Sale of Equipment A/c 6,000
(Statement of Profit and Loss)
By Balance c/d 2,50,000
3,00,000 3,00,000
3. Since the shareholders have not declared dividend for the year ended 31st March, 2017, it is not accounted and paid.
Hence, adjustment for Proposed Dividend will not be made.
