Question

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​

Answer 1

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      

Answer 2

Explanation:

suspense a/c. 50

the debit side be 22240- the credit side be 22290

22290

-22240

------------

00050