Question

Amount
40,000
Q.2. Shraddha and Radha are partners in the firm M/s.
ShriRadhe sharing Profits and Losses in the ratio 1:1.
From the following Trial Balance and Adjustments, prepare Trading and Profit & Loss account for the
vil. Depreciation on Fixed assets to be provided @10%.
VIII Interest on Capital is to be provided at 10% and interest on drawings to be provided at 12%.
year ended 31" March, 2019 and Balance sheet as on that Date
Trial Balance as on 31" March, 2019
Amount
Particulars
Particular
₹
Stock (01.04.2018)
35,000 Bills Payable
Salaries and Wages
80,000 Capital A/c:
Carriage
18,000 Shraddha
Provident Fund Investment
50,000 Radha
Warehouse Rent
23,000 Outstanding Wages
Purchases
2,43,500 Sales
Sales Return
4,600 Purchase Return
Advertisement (For 8 months)
1,600 Discount
Machinery
1,00,000 Creditors
Motor Vehicle
44,000 Provident Fund
Loose Tools
15,000 Reserve Fund
Import duty
6,500
10% Investments (as on 1 Oct, 2018) 40,000
Rent, Rates and Taxes
17,200
Export Duty
11,800
Royalties
7,200
Legal Charges
2,800
Works Manager's Salary
30,000
Solicitor's Charges
9,000
Interest
4,000
Commission
900
Travelling Exp. of Salesman
8,000
Cash at Bank
2,93,900
Cash in Hand
40,000
2,00,000
2,00,000
12,000
5,04,600
3,500
500
75,000
50,000
400
10,86,000
10,86,000
Adjustments:
1.
Closing Stock is valued at * 1,50,000.
il. Machinery was purchased on 19 October, 2019. Depreciation to be charged @ 10%.
Outstanding Carriage * 2,000.
iv. Warehouse rent is paid for 2 years.
Royalties is paid for 18 months.
vi.
Goods worth 25,000 were stolen.
V.
50​

Answer 1

Answer:

it on photos check ✔

Explanation:

gross profi is 3,38,700

net profit 1,63,600

capital

1) sharaddha 281800

2) radha. 281800

blance sheet 743800