Following balances are taken from the books of Param, a merchant on 31st March, 2023 Furniture and Fittings 6,400 Motor Vehicles 62,500
Following balances are taken from the books of Param, a merchant on 31st March, 2023:
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Debit Balances: Furniture and Fittings Motor Vehicles Building Bad Debts Sundry Debtors Stock on 1st April, 2022 Purchases Sales Return Advertising Interest Cash in Hand |
6,400 62,500 75,900 1,250 38,000 34,600 55,750 2,000 4,500 1,180 6,500 |
Debit Balances (Contd.): Insurance General Charges Salaries Credit Balances: Capital Bills Payable Sundry Creditors Sales Bank Overdraft Purchases Return Commission |
12,500 7,820 33,000 1,28,900 2,000 25,000 1,54,500 28,500 1,250 1,750 |
Stock in Hand on 31st March, 2023 was valued at ₹ 32,500. From the above, prepare Trading Account, Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date.
Anurag Pathak Changed status to publish December 11, 2023
