From the following balances as on 31st March, 2023, prepare Trading and Profit & Loss Account and Balance Sheet: Capital Account 1,00,000 Plant and Machinery 40,000
From the following balances as on 31st March, 2023, prepare Trading and Profit & Loss Account and Balance Sheet:
|  | ₹ |  | ₹ |
|
Capital Account Plant and Machinery Sundry Debtors Sundry Creditors Life Insurance Premium Purchases Wages Bank Stock (1st April, 2022) |
1,00,000 40,000 24,000 19,000 12,000 1,05,000 50,000 10,000 20,000 |
Returns Outward Rent Sales Manufacturing Expenses General Expenses Bad Debts Carriage Returns Inward |
5,000 4,000 1,64,000 8,000 7,500 2,000 1,500 4,000 |
Closing Stock on 31st March, 2023 was valued at ₹ 14,500.
[Gross Loss – ₹ 5,000; Net Loss – ₹ 18,500; Balance Sheet Total – ₹ 88,500.]
Anurag Pathak Changed status to publish October 12, 2023
