Question
Discuss the advantages and limitations of budgets.
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| Particulars | Amount (Dr.) (₹) | Amount (Cr.) (₹) |
| Capital | 1,00,000 | |
| Furniture | 20,000 | |
| Purchase | 1,50,000 | |
| Debtors | 2,00,000 | |
| Interest Received | 4,000 | |
| Salaries | 30,000 | |
| Sales | 3,21,000 | |
| Purchase Returns | 5,000 | |
| Wages | 20,000 | |
| Rent | 15,000 | |
| Sales Return | 10,000 | |
| Carriage outwards | 7,000 | |
| Creditors | 1,26,000 | |
| Printing and Stationery | 8,000 | |
| Insurance | 12,000 | |
| Opening Stock | 50,000 | |
| Office Expenses | 12,000 | |
| Bank Overdraft | 2,000 | |
| Drawing | 24,000 | |
| Total | 5,58,000 | 5,58,000 |
| Trial Balance as on 31.03.2010 | ||
| Heads of Accounts | Dr. (₹) | Cr. (₹) |
| Opening Stock | 15,000 | |
| Salary | 2,400 | |
| Purchase & Sales | 80,000 | 1,20,000 |
| Machinery | 40,000 | |
| Returns | 4,000 | 5,000 |
| Commission Received | 6,000 | |
| Investments | 10,000 | |
| Interest on Investment | 1,200 | |
| Carriage on Purchase | 3,000 | |
| Rent & Rates | 4,000 | |
| Debtors & Creditors | 22,800 | 15,700 |
| Bills Receivable & Bills Payable | 3,400 | 4,100 |
| Cash-in-hand | 6,400 | |
| Wages | 18,600 | |
| Discount Allowed | 5,200 | |
| Royalty Paid | 12,000 | |
| Discount Received | 6,000 | |
| Drawings and Capital | 1,200 | 70,000 |
| 2,28,000 | 2,28,000 | |