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unit-19-final-accounts-with-adjustments

Unit-19 Final Accounts with Adjustments

This unit teaches how to prepare final accounts when you are given a Trial Balance along with some adjustments.

If you find an item in adjustment stating that the proprietor took away goods costing Rs. 1500 for personal use, how would you deal with it in the final accounts.




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Learning Pundits Content Team

Written on Jun 26, 2019 12:24:42 PM

i.Deduct it from purchases on the debit side of Trading Account

ii.Deduct it from capital in the Balance Sheet.