0

Prepare Trial Balance, Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet of the Gurman Trading Company as at that date, from the following extract of Ledger balances:

   

Proprietor’s Capital A/c

Wages

Sundry Debtors

Bank Loan

Purchases

Commission Received

Rent

Travelling Expenses

Cash

Repairs

Furniture

Input CGST

Input SGST

1,19,400

40,970

71,500

20,000

2,56,590

5,640

5,620

1,880

530

3,370

8,970

5,100

5,100

Proprietor’s Drawings A/c

Plant and Machinery

Salaries

Sundry Creditors

Returns Inward

Sales

Discount Allowed

Stock on 1st April, 2022

Insurance

Bank (Debit Balance)

Bad Debts

Output CGST

Output SGST

10,550

28,800

11,000

60,830

2,780

3,56,430

5,870

89,680

400

18,970

3,620

4,500

4,500

Stock in Hand on 31st March, 2023 was valued at ₹ 1,28,960.

[Trial Balance Total – ₹ 5,71,300; Gross Profit – ₹ 95,370; Net Profit – ₹ 69,250; Balance Sheet Total – ₹ 2,58,930.]

Anurag Pathak Changed status to publish October 12, 2023
Add a Comment