Question

From the following Trial Balance of Riddhi and Siddhi, you are required to prepare Trad- ing and Profit and loss Account for the year ended 31 March 2019 and Balance Sheet as on that date after considering the additional information given below. Trial Balance as on 31 March, 2019 Porticulars Debit) Credit (2) Stock (1/4/2018) 48.000 Capital - Riddhi 50.000 Siddhi 30,000 Purchases 22.500 800 Corriage Irward 1.000 Sundry Creditors 27.600 Bills Payable 20,000 Cash in hand 2,850 Insurance 1.200 Sandry Debtors 32.000 Bank Overdront 18.000 Carnage outward 900 Land and Building 42,500 Formitume 38,700 Sales +7,000 Purchase Retur 500 Sales Re 400 Rom 1800 Bad-debes 300 R.D.D 1000 a 1.96,250 1,96,250​

Answer 1

Explanation:

goods destroyed by fire of 3000 will come both in trading and profit & loss A/c