From the following Trial Balance, prepare Trading Account, Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
From the following Trial Balance, prepare Trading Account, Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
| Particulars | Dr. (₹) | Cr. (₹) |
|
Sundry Debtors Stock on 1st April, 2021 Land and Building Capital Rent Cash in Hand Cash at Bank Wages Sundry Creditors Bills Receivable Interest Bad Debts Repairs Sales Bills Payable Furniture and Fixtures Depreciation Discount Salaries Drawings Purchases Office Expenses Plant and Machinery Input CGST A/c Input SGST A/c Output CGST A/c Output SGST A/c Output IGST A/c |
15,000 50,000 1,00,000 – – 16,000 40,000 30,000 – 20,000 2,000 5,000 3,000 – – 15,000 10,000 8,000 20,000 20,000 1,00,000 25,000 57,000 15,000 15,000 – – – |
– – – 2,50,000 6,000 – – – 75,000 – – – – 1,70,000 40,000 – – – – – – – – – – 10,000 10,000 5,000 |
| Total | 5,66,000 | 5,66,000 |
On 31st March, 2022, stock was valued at cost as ₹ 1,20,000. Its net realisable value (market value) was ₹ 1,00,000.
Anurag Pathak Changed status to publish October 26, 2023
