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From the following information, prepare Profit & Loss Account for the year ended 31st March, 2023:

   

Gross Profit

Rent

Salary

Commission Paid

Interest on Loan

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Interest Received

Discount Allowed A/c

1,30,000

5,000

35,000

19,000

5,000

8,000

8,000

2,000

Discount Received

Printing and Stationery

Legal Charges

Office Expenses

Loss by Fire

Depreciation

Miscellaneous Income

6,000

14,000

10,000

2,000

6,000

4,000

2,000

[Net Profit – ₹ 36,000.]

Anurag Pathak Changed status to publish October 12, 2023