Question

From the following particular prepare trading account ,profit and loss account and balance sheet as on 31march 2016
Capital account 9000
Furniture. 800
Creditor 1600
Premises. 13000
Bad debts 80
Cash 40
Drawing. 900
Overdraft at bank 905
Debtors. 1500
Purchase. 15000
Carriage out words. 200
Salaries. 2000
Sales 18000
Rent received. 800
Discount allowed. 180
Loan 4000
Reserve for bed debts 100
Expenses. 705
Adjustments:-
1 Make provision for bed debts @3%
2 salaries due 200
3 stock on 01-04-2015 Rs. 3500
4 write off 10% from the furniture from depreciation

Answer 1

Trading A/C
particular. amt. particular. amt
purchase. 14,800. sales. 18,000
gross profit. 6700 stock. 3500
21,500. 21,500