Trial Balance of Chatter Sen on 31st March, 2023 revealed the following balances: Machinery 10,00,000 Purchases 5,80,000
Trial Balance of Chatter Sen on 31st March, 2023 revealed the following balances:
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Debit Balances: Machinery Purchases Sales Return Opening Stock Discount Allowed Bank Charges Sundry Debtors Salaries Wages Freight In Freight Out |
10,00,000 5,80,000 10,000 4,00,000 3,500 750 4,50,000 68,000 1,00,000 7,500 12,000 |
Debit Balances (Contd.): Rent Insurance Advertisement Cash at Bank Credit Balances: Capital A/c Sales Purchases Return Discount Received Loan Sundry Creditors |
20,000 10,000 10,000 69,000
12,00,000 12,70,000 12,750 8,000 50,000 2,00,000 |
Stock on 31st March, 2023 was ₹ 3,50,000 at cost and its net realisable value (market value) was ₹ 4,00,000.
Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
[Gross Profit – ₹ 5,35,250; Net Profit – ₹ 4,19,000; Balance Sheet Total – ₹ 18,69,000.]
Anurag Pathak Changed status to publish October 12, 2023
