Question

Calculate funds from operation from the following profit and loss

account.

Profit and loss account

Rs.

To expenses paid and out standing 3.00.000 By gross profit

To depreciation

To loss on sale of machine

To discount

To good will

To net profit

Rs.

4.50.000

70.000 By gain on sale of land 60.000

4.000

200

20.000

1.15.800

5.10.000

3

5.10.000​

Answer 1

Answer:

om the following balances of Vikas, Prepare trading and profit and loss account for the year

Debit balances

Rs.

Credit balances

Rs.

Machinery

35,000

Capital account

1,00,000

Debtors

27,000

Creditors

14,000

Drawing

9,000

Sales

1,45,000

Purchases

95,0006⁶664466⁷⁶⁷⁵

Wages

50,000

Bank

15,000

Stock

20,000

Rent

4,500

Sundry expenses

2,000

carriage

1,500

Closing Stock was Rs 600