Prepare Trading and Profit & Loss Account and Balance Sheet from the following balances, relating to the year ended 31st March, 2023:
Prepare Trading and Profit & Loss Account and Balance Sheet from the following balances, relating to the year ended 31st March, 2023:
|
Capital Creditors Returns Outward Sales Plant and Machinery Sundry Debtors Drawings Purchases Returns Inward |
1,00,000 17,000 5,000 1,64,000 40,000 24,000 10,000 1,05,000 3,000 |
Wages Bank Repairs Stock on 1st April, 2021 Rent Manufacturing Expenses Trade Expenses Bad Debts Carriage Inwards Fuel and Power |
50,000 10,000 500 20,000 4,000 8,000 7,000 2,000 1,500 1,000 |
Additional Information:
(i) Closing Stock was valued at ₹ 14,500.
(ii) Depreciate Plant and Machinery by ₹ 4,000.
(iii) Write off Bad Debts ₹ 5,000.
(iv) ₹ 400 is due for repairs.
[Gross Loss – ₹ 5,000; Net Loss – ₹ 27,900; Balance Sheet Total – ₹ 79,500.]
Anurag Pathak Changed status to publish October 12, 2023
