Following are the balances extracted from the books of Gurman on 31st March, 2023: Capital 1,90,000 Drawings 7,000
Following are the balances extracted from the books of Gurman on 31st March, 2023:
|
Capital Drawings Plant and Machinery Delivery Vehicle Sundry Debtors Sundry Creditors Purchases Sales Wages |
1,90,000 7,000 1,20,000 26,000 36,000 49,500 20,000 42,000 8,000 |
Cash at Bank Salaries Repairs Stock on 1st April, 2022 Rent Manufacturing Expenses Bad Debts Carriage Inwards |
26,000 8,000 1,900 16,000 4,500 1,500 5,000 1,600 |
Prepare Trading and Profit & Loss Account and Balance Sheet as at 31st March, 2023 after following adjustments are made:
(i) Closing Stock was ₹ 16,000
(ii) Depreciate Plant and Machinery @ 10% and Delivery Vehicle @ 15%.
(iii) Unpaid Rent amounted to ₹ 500.
[Gross Profit – ₹ 10,900; Net Loss – ₹ 24,900; Balance Sheet Total – ₹ 2,08,100.]
Anurag Pathak Changed status to publish October 12, 2023
