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:
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:
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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
