Rs. Rs.
To bal b/d 9500 By office expenses 25000
Audit fees 160000 Municipal taxes 600
Remuneration lectures 4000 Personal expenses 5000
Examiner’s fees 1500 Membership fees 500
Interest on securities 1550 LI Premium 3000
Rent from LOP 3000 Scooter purchased 45000
Royalty on book 6000 Scooter expenses 6000
Balance c/d 185550
270650 270650
ii) ½ of the scooter expenses relate to personal use.
iii) Scooter being P& M depreciation is allowed at per rate 15 %
iv) Interest of securities include Rs. 774 being interest on tax free government securities.