TRADING AND PROFIT & LOSS ACCOUNTAND BALANCE SHEET 8. Following balances have been extracted from the books of M/s. Delhi Paint Sto

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TRADING AND PROFIT & LOSS ACCOUNTAND BALANCE SHEET
8. Following balances have been extracted from the books of M/s. Delhi Paint Stores, for the year ending
March 31st 2019:
Debit Balances
Debit Balances (Contd.)
2,500
Land and Building
25,000 Commission
6,000
Freehold Premises
20,000 Rent Rates and Insurance
18,000
Plant and Machinery
13,000 Office Salaries
4,500
Goodwill
9,000 Factory expenses
1,500
Patents and Trade Marks
13,000 Carriage inward
500
Fixtures
2,000 Carriage outward
Cash in hand
700 Coal, gas and water
800
Trade expenses
1,800 Returns inward
1,000
Printing and Stationery
500 Credit Balances
Opening Stock
18,000 Capital
40,000
Bills Receivable
5,000 Bills Payable
5,000
Book Debts
15,000 Trade Creditors
25,000
Purchases
80,000 Sales
1,50,000
Manufacturing wages
22,000 Return outwards
2,000
Discount allowed
4,000 Interest received
3,000
Freight duly etc.
1,200 Bank overdraft
39,000
Drawings
5,000 Discount received
6,000
You are required to prepare the Trading and Profit and Loss Account for the year ending 31st March, 2019
and the Balance Sheet as on that date.
[Ans. Gross Profit 723,000 Net loss 7 1,300, B/Sheet F1,02,700.]‚Äč

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Ivy 2 months 2021-08-13T00:10:06+00:00 1 Answer 0 views 0

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    2021-08-13T00:11:54+00:00

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