From the following Trial Balance and additional information of Gaurav, a proprietor, prepare Trading Account, Profit & Loss Account for the year ending 31st March, 2023 and Balance Sheet as at that date
From the following Trial Balance and additional information of Gaurav, a proprietor, prepare Trading Account, Profit & Loss Account for the year ending 31st March, 2023 and Balance Sheet as at that date:
| Particulars | Dr. (₹) | Cr (₹) |
|
Building Wages Machinery Salaries and Wages Debtors Capital Purchases/Sales Creditors Income Tax Drawings |
1,60,000 26,000 16,000 41,600 33,700 – 56,500 – 2,000 500 |
– – – – – 2,23,100 1,00,700 12,500 – – |
| Total | 3,36,300 | 3,36,300 |
Closing Stock was valued at cost ₹ 1,00,000 but its net realisable value (market value) was ₹ 88,500.
Anurag Pathak Changed status to publish October 26, 2023
