From the following balances prepare Trial Balance as on 31st March
2017-
Capital A/C
6,000
Furniture Alc
850
Commission Ale (Cr.)
350
Octroi Ac
155
Trade Expenses Alc
460
Purchases AC
9650
Sales Alc
12870
Purchase Return Alc
300
Sales Return Ac
620
Creditors Ac
2,720
Debtors Ac
4,960
Cash Ac
3,240
Bills Receivable Alc
1,200
Travelling Expenses Alc
320
Discount Alc
155
Salaries Alc
720
solve this by Trail Balance
Answers
Answer:
ANSWER
Trading and Profit and Loss Account
as on 31st March,2010
Dr Cr
ParticularsAmt. (Rs.)ParticularAmt. (Rs.)To Opening Stock10,000By Sales80,000To Purchase40,000(-) Sales Return 200
79,800(-) Purchase Return600
39,400By Closing Stock2000To Wages6,000To Dock and Clearing Charges
4,000
To Gross Profit c/d22,400
81,80081,800To Donation and Charity
600By Gross Profit b/d22,400To Interest on Capital
2000By Interest on Drawings
140To Depreciation on Furniture
565By Interest on Investment
360To Depreciation on Land and Machine
2,150By Miscellaneous Income
6,000To Lighting
500By Rent Received2,000To Net Profit
24,985(-) Unexpired Rent100
1,900
30,800 30,800
Balance Sheet
as on 31st March, 2010
LiabilitiesAmt. (Rs.)AssetsAmt. (Rs.)Capital40,000 Furniture11,300(+) Interest on Capital
(+) Net Profit
(-) Drawings2,000
42,000
24,985
66,985
2,000(-) Depreciation @5%
565
10,735(-) Interest
140Land and Machinery
43,000Unexpired Rent100(-) Depreciation @ 5%
Investment2,150
40,850
6,000
Sales Tax Collected
1,000(+) Interest @ 6%
360Creditors
7,000Debtors6,000Cash3,000Patents4,000
Closing Stock2,00072,945 72,945
Explanation:
suspense a/c. 50
the debit side be 22240- the credit side be 22290
22290
-22240
------------
00050
