Following are the balances taken from the books of Narain on 31st March, 2023:
Following are the balances taken from the books of Narain on 31st March, 2023:
| Particulars | ₹ | Particulars | ₹ |
|
Narain’s Capital Narain’s Drawings Furniture and Fittings Bank Overdraft Creditors Business Premises Stock on 1st April, 2022 Debtors Rent from Tenants Purchases |
3,00,000 50,000 26,000 42,000 1,38,000 2,00,000 2,20,000 1,80,000 10,000 11,00,000 |
Sales Sales Return Discount (Dr.) Discount (Cr.) Insurance General Expenses Salaries Commission (Dr.) Carriage on Purchases Bad Debts Written off |
15,00,000 20,000 16,000 20,000 20,000 40,000 90,000 22,000 18,000 8,000 |
Additional Information:
(i) Closing Stock as on 31st March, 2023 at cost was ₹ 2,15,600 whereas its net realisable value (Market Value) was ₹ 2,00,600.
(ii) Depreciate: Business Premises by ₹ 3,000 and Furniture and Fittings by ₹ 2,500.
(iii) Make a provision of 5% on debtors for doubtful debts.
(iv) Carry forward ₹ 2,000 for unexpired insurance.
(v) Outstanding salary was ₹ 15,000.
Parepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date.
Anurag Pathak Changed status to publish October 26, 2023
