Question

From the following prepare M/s Vipul Trader's Trading and P & L A/c and B/S:

₹

800

19,000

1,000

300

5,000

2,000

6,000

4,100

6,000

44,200

Wages

Cost of goods sold

Sundry Expenses

Salaries

Debtors

Machinery

Closing Stock

Buildings

Cash

Sales

Capital

Reserve

Creditors

Outstanding Salaries

30,000

9,000

2,500

2,400

300

₹

44,200

​

Answer 1

Concept:

Solving trial balance into Trading and Profit & Loss A/c and Balance sheet.

Given:

The Trial Balance is provided from the following question.

Find:

We need to prepare a Trading and Profit & Loss A/c and Balance sheet.

Solution:

• Making a profit-loss calculation. The actual method of calculating profit and loss in a position is very simple. You need the position size and the amount of pip movement to compute the P&L of a position. The position size multiplied by the pip movement will result in the actual profit or loss.
• An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date.

#SPJ1

Answer 2

answer of financial accounting