0

From the following balances of Anand, Prepare Trading Account, Profit & Loss Account and Balance Sheet as at 31st March, 2023:

   

Credit Balances:

Capital

Creditors

Sales

Bad Debts

Recovered Loan

Debit Balances:

Debtors

Salaries

Discount

Fixtures and Fittings

 

4,60,000

1,12,470

7,81,820

1,750

1,20,000

 

38,850

40,000

10,000

1,61,550

Debit Balances (Contd):

Postage

Bad Debts

Interest

Insurance

Machinery

Stock (Opening)

Purchases

Wages

Building

Selling Expenses

 

2,730

2,870

12,950

4,170

1,00,000

99,450

6,20,920

43,000

3,37,800

1,750

Value of goods on hand (31st March, 2023) was ₹ 1,43,000.

[Gross Profit – ₹ 1,61,450; Net Profit – ₹ 88,730; Balance Sheet Total – ₹ 7,81,200.]

Anurag Pathak Changed status to publish October 12, 2023