Page 56 - AAAXII

M.52 An Aid to Accountancy—CBSE XII

Working Notes:
1. Dr. PROVISION FOR TAX ACCOUNT Cr.

Particulars ` Particulars `
To Bank A/c (Tax Paid) (Balancing Figure) 3,70,000 By Balance b/d 3,75,000
To Balance c/d 50,000 By Statement of Profits and Loss 45,000
(Provision Made)
4,20,000 4,20,000

2. Dr. LAND AND BUILDING ACCOUNT Cr.
Particulars ` Particulars `
To Balance b/d 10,00,000 By Bank A/c (Sale) (` 4,00,000 + ` 40,000) 4,40,000
To Gain (Profit) on Sale of Building A/c 40,000 By Balance c/d 8,00,000
(Statement of Profit and Loss)
To Bank A/c (Purchase) (Balancing Figure) 2,00,000
12,40,000 12,40,000

3. Dr. PLANT AND MACHINERY ACCOUNT Cr.

Particulars ` Particulars `
To Balance b/d 10,00,000 By Depreciation A/c 1,00,000
By Bank A/c (Sale) 1,00,000
By Balance c/d 8,00,000
10,00,000 10,00,000