Following is the Trial Balance of Sh. Diljeet as at 31st March, 2025:- Prepare a Trading and Profit and Loss Account for the year ended on 31-3-2025
Following is the Trial Balance of Sh. Diljeet as at 31st March, 2025:-
Prepare a Trading and Profit and Loss Account for the year ended on 31-3-2025 and the Balance Sheet as at that date. The Stock on 31st March, 2025 was ₹ 92,000.
[Ans. Gross Profit ₹ 1,85,200; Net Profit ₹ 1,29,500 and Balance Sheet Total ₹ 4,18,000.]
| Particulars | ₹ | Particulars | ₹ |
| Stock 1-4-2024 | 50,000 | Discount Received | 3,550 |
| Purchases | 3,00,000 | Return Outwards | 12,500 |
| Wages | 27,000 | Sales | 4,85,700 |
| Returns Inwards | 16,000 | B/P | 15,000 |
| Carriage on Purchases | 12,000 | Sundry Creditors | 31,000 |
| Carriage on Sales | 3,500 | Creditors for Rent | 2,500 |
| Office Salaries | 25,000 | Capital | 2,20,000 |
| Rent and Taxes | 12,000 | Loan from X | 50,000 |
| Cash | 5,500 | Commission | 7,850 |
| Bank Balance | 38,500 | ||
| Bad-debts | 3,000 | ||
| Discount allowed | 3,200 | ||
| Land and Building | 1,00,000 | ||
| Scooter | 34,000 | ||
| Scooter Repairs | 4,200 | ||
| B/R | 18,000 | ||
| Commission | 9,000 | ||
| Sundry Debtors | 1,30,000 | ||
| Interest on X Loan | 7,200 | ||
| Drawings | 30,000 | ||
| 8,28,100 | 8,28,100 |
Anurag Pathak Changed status to publish
