Following Trial Balance is extracted from the books of a merchant on 31st March, 2023: Furniture 6,400 Motor Vehicles 62,500
Following Trial Balance is extracted from the books of a merchant on 31st March, 2023:
|  | ₹ |  | ₹ |
|
Debit Balances: Furniture 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 48,000 34,600 55,750 2,000 4,500 1,180 6,500 |
Debit Balances (Contd.): Insurance General Charges Salaries Credit Balances: Capital Sundry Creditors Sales Bank Overdraft Purchase Return Commission |
12,500 7,820 33,000
1,28,900 37,000 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 and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
[Gross Profit – ₹ 95,900; Net Profit – ₹ 37,400; Balance Sheet Total – ₹ 2,31,800.]
Anurag Pathak Changed status to publish October 12, 2023
