0

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
Add a Comment