Financial State...

Trading and profit and loss a/c is generally prepared by ___________.

Unrealised profit is debited to _____________ a/c.

A, B and C are three partners sharing profit and loss equally. B has drawn the following amount from the business.
$$1.4.13$$ Rs. $$10,000$$
$$1.9.13$$ Rs. $$20,000$$
Interest on drawing is charged at $$10\%$$ PA. Find the net profit of the firm if the profit before charging interest on drawing for the year ending $$31.12.13$$ amounted to Rs. $$8,950$$.

From the following details calculate net profit under cash basis of accounting.
Goods sold for cash Rs. $$600,000$$, Credit sales Rs. $$25,000$$
Cash purchases Rs. $$500,000$$, Credit purchases Rs. $$25,000$$
Wages paid Rs. $$25,000$$, Outstanding expenses Rs. $$10,000$$
Rent paid Rs. $$5,000$$, Rent outstanding expenses Rs. $$2,000$$
Depreciation on building Rs. $$10,000$$
Loss on sale of fixed assets Rs. $$1,000$$.

Unrealised profit is transferred to ____________.

Which of these will not appear in profit and loss a/c?

Financial position of the business is ascertained on the basis of _______.

Net profit = Rs. 19,000
Non operating expenses = Rs. 500
Non operating incomes = Rs. 0
Using above information calculate Operating profit.

O Ltd, maintains the inventory records under perpetual system of inventory. Consider the following data pertaining to inventory of a company held for the month of March:

When obligation is not probable or the amount expected to be paid to settle the liability cannot be measured with sufficient reliability, it is called __________.