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19.24                                                  Double Entry Book Keeping—CBSE XI

                     To  Bad Debts               125            By  Gross Profit b/d               ...(12)...
                        ...(13)...             ...(14)...       By  Commission              375
                        ...(15)...             ...(16)...         ...(17)...              ...(18)...  ...(19)...
                        ...(20)...             ...(21)...  210
                     To  Advertising                      450
                     To  Interest on Bank Loan   118
                        ...(22)...             ...(23)...  ...(24)...
                     To  General Expenses                1,250
                     To  Salaries               3,300
                        ...(25)...             ...(26)...  ...(27)...
                     To  Taxes and Insurance     782
                        ...(28)...             ...(29)...
                        ...(30)...             ...(31)...  ...(32)...
                     To  Depreciation on:
                        ...(33)...             ...(34)...
                        ...(35)...             ...(36)...
                        ...(37)...             ...(38)...  ...(39)...
                     To  Net Profit                     ...(40)...
                                                        ...(41)...                                 ...(42)...

                                           BALANCE SHEET OF MR. NEGI as at 31st March, 2024
                     Liabilities                         `      Assets                             `
                     Capital:                                   Furniture and Fittings      640
                     Opening Balance           12,500           ...(43)...                ...(44)...   ...(45)...
                     ...(46)...                ...(47)...   ...(48)...   Motor Vehicle     6,250
                     Sundry Creditors                    2,500   ...(49)...               ...(50)...   ...(51)...
                     Bank Loan                           2,850   Building                  7,500
                     Outstanding Expenses:                      ...(52)...                ...(53)...   ...(54)...
                     Salaries                    300            Sundry Debtors             3,800
                     Taxes                       200            ...(55)...                ...(56)...
                     Interest on Bank Loan        85    ...(57)...   ...(58)...           ...(59)...   ...(60)...
                     Commission Received in Advance      ...(61)...   Cash                           650
                                                                Closing Stock                       3,250
                                                                Prepaid Insurance Premium          ...(62)...
                                                        ...(63)...                                 ...(64)...

                      [1: Opening Stock; 2: ` 3,460; 3: ` 200; 4: ` 15,250; 5: ` 125; 6: ` 5,350; 7: Closing Stock; 8: ` 3,250;
                              9: ` 9,690; 10: ` 18,500. 11: ` 18,500; 12: ` 9,690; 13: Add: Further Bad Debts; 14: ` 100;
                           15: Add: New Provision for Doubtful Debts; 16: ` 185; 17: Less: Commission Received in
                                  Advance; 18: ` 125; 19: ` 250; 20: Less: Old Provision for Doubtful Debts; 21: ` 200;
                             22: Add: O/s Interest; 23: ` 85; 24: ` 203; 25: Add: O/s Salary; 26: ` 300; 27: ` 3,600;
                              28: Add: O/s Tax; 29: ` 200; 30: Less: Prepaid Insurance; 31: ` 100; 32: ` 882; 33: Building;
                          34: ` 375; 35: Furntiure; 36: ` 64; 37: Motor Vehicle; 38: ` 1,250; 39: ` 1,689; 40: ` 1,656;
                            41: ` 9,940; 42: ` 9,940; 43: Less: Depreciation; 44: ` 64; 45: ` 576. 46: Add: Net Profit;
                            47: ` 1,656; 48: ` 14,156; 49: Less: Depreciation; 50: ` 1,250; 51: ` 5,000; 52: Less: Depreciation;
                        53: ` 375; 54: ` 7,125; 55: Less: Further Bad Debts; 56: ` 100; 57: ` 585; 58: Less: Provision
                          for Doubtful Debts; 59: ` 185; 60: ` 3,515; 61: ` 125; 62: ` 100; 63: ` 20,216; 64: ` 20,216.]
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