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Particulars Amount Particulars Amount Liabilities Amount Assets Amount Trading and Profit and Loss Balance Sheet

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0% found this document useful (0 votes)
8 views2 pages

Particulars Amount Particulars Amount Liabilities Amount Assets Amount Trading and Profit and Loss Balance Sheet

Uploaded by

shubham.97724
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Trading and Profit and Loss Balance Sheet

Particulars Amount Particulars Amount Liabilities Amount Assets Amount


To Opening Stock 45,000 By Sales 3,75,000 Capital Furniture 50,000
To Purchases 2,00,000 Less: Sales Returns -5,000 -Opening 3,00,000 Less: Depreciation -5,000
Less: Drawings -2,000 Less: Purchase Returns -4,000 Less: Drawings -14,500 Plant and Machinery 70,000
Less: Sales Returns -5,000 Add: Profit 46,497 Add: Wages Capitalised 2,000
Less: Purchase Returns -4,000 Less: Depreciation -10,800
Less: Free Samples -2,500 Bills Receivable 10,000
To Carriage Inwards 2,500 Bills Payable 15,000 Less: Dishonoured Bill -2,000
To Mfg Wages 55,000 Creditors 1,60,000 Debtors 1,40,000
Less: Wages Capitalised -2,000 Outstanding Salaries 5,000 Less: PFDD -6,850
To Fuel and Power 2,000 less: PFDoD -2,603
To Factory Expense 13,500 Less: Advance to supplier -5,000
To Freight 3,000 Add: Dishonoured Bill 2,000
TO GP 1,40,500 By Closing Stock 80,000 Prepaid Rent 6,000
4,46,000 4,46,000 Cash 10,750
Bank 1,68,500
To Carriage Outwards 1,250 By GP 1,40,500 Advance to Supplier 5,000
To Salaries 45,000 By Discount 2,000 Stock 80,000
To Rent 15,000 5,11,997 5,11,997
To Printing and Stationary 1,500
To Discount 1,000
To General Expenses 4,500
To Free Samples 2,500
To Depreciation 15,800
TO Provision for Bad Debts 4,850
To Provision for Discount on Debtors 1,603
To Bad Debts 3,000
To Net profit 46,497
1,42,500 1,42,500
Trading and Profit and Loss Balance Sheet
Particulars Amount Particulars Amount Liabilities Amount Assets Amount
To Opening Stock 32,000 By Sales (net) 2,89,000 capital Goodwill 5,000
To Purchases (net) less loss by fire 1,47,000 -Opening 41,000 Machinery 20,000
To Cartage 1,500 Less: Drawings -5,000 Less: Depreciation -2,000
To Wages 23,000 Less: Income Tax -5,000 Patents 2,700
To Power 9,000 Less: Net Loss -10,940 Less: Depreciation -900
To Gross Profit 99,500 By Closing Stock 23,000 Creditors 36,800 Debtors 12,500
3,12,000 3,12,000 Bank Loan 15,000 Less: Provision -2,000

To Advertisement Expense 5,350 By Gross Profit 99,500 Cash at Bank 2,560


To General Expense 8,600 By Rent 600 Stock 23,000
To Discount Allowed 5,000 By Discounts 1,800 Advertisement Expense 10,700
to Rent and Insurance 21,700 By Net Loss 10,940 Prepaid Insurance 300
To Salaries 46,390 71,860 71,860
To Interest on Loan 1,500
To Loss by Fire 20,000
To Depreciation 2,900
To Provision 1,400
1,12,840 1,12,840

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