From the following balances of the Ledger of Sh. Akhileshwar Singh, prepare Trading and Profit & Loss Account and Balance Sheet
From the following balances of the Ledger of Sh. Akhileshwar Singh, prepare Trading and Profit & Loss Account and Balance Sheet:-
[Ans. Gross Profit ₹ 38,40
| Particulars | Dr. (₹) | Cr. (₹) |
| Stock on 1-4-2022 | 30,000 | |
| Stock on 31-3-2023 | 46,200 | |
| Purchases and Sales | 2,30,000 | 3,45,800 |
| Returns | 12,500 | 15,200 |
| Commission on Purchases | 1,200 | |
| Freight and Carriage | 26,000 | |
| Wages and Salary | 10,800 | |
| Fire Insurance Premium | 820 | |
| Business Premises | 40,000 | |
| Sundry Debtors | 26,100 | |
| Sundry Creditors | 26,700 | |
| Goodwill | 8,000 | |
| Patents | 8,400 | |
| Coal, Gas and Power | 12,100 | |
| Printing and Stationery | 2,100 | |
| Postage | 710 | |
| Travelling Expenses | 4,250 | |
| Drawings | 7,200 | |
| Depreciation | 1,000 | |
| General Expenses | 8,350 | |
| Capital | 89,760 | |
| Investments | 8,000 | |
| Interest on Investments | 800 | |
| Cash in Hand | 2,570 | |
| Banker’s Account | 5,200 | |
| Commission | 4,600 | 4,400 |
| Loan on Mortgage | 30,000 | |
| Interest on Loan | 3,000 | |
| B/P | 2,280 | |
| B/R | 4,540 | |
| Income Tax | 3,000 | |
| Horses and Carts | 20,300 | |
| Discount on Purchases | 1,600 | |
| 5,21,740 | 5,21,740 |
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