Model: Preparation of revenue A/c; net revenue A/c; capital A/c and general balance sheet From the following balances as on 31 December 2010, appearing in the ledger of Electric Light and Power Co. Ltd, you are required to prepare: (a) revenue account; (b) net revenue account; (c) capital account and (d) general balance sheet.
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Equity Shares |
1,09,800 |
Other Debtors |
100 |
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Debentures |
40,000 |
Cash |
600 |
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Stores on Hand |
1,400 |
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Lands on 31 December 2009 |
30,000 |
Cost of Generating |
6,000 |
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Electricity |
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Lands Purchased in 2010 |
1,000 |
Cost of Distribution of |
1,200 |
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Electricity |
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Machinery on 31 December 2009 |
1,20,000 |
Rent, Rates & Taxes …. |
800 |
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Machinery Purchased During 2000 |
1,000 |
Management Expenses |
2,400 |
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Mains Including Cost of Laying on 31 December 2009 |
40,000 |
Depreciation |
4,000 |
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Spent on Mains in 2000 |
10200 |
Sale of Current |
26,400 |
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Sundry creditors |
200 |
Rent of Meters |
600 |
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Depreciation Fund |
50,000 |
Interest on Debentures |
2,000 |
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Sundry Debtors for |
Dividends |
4,000 |
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Current Supplied |
8,000 |
Balance of Net Revenue Account on 31 December 2009 |
5,700 |
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