Question

From the undernoted trail balance of a trader as on 31-03-2019 a trading and profit and
loss account for the year ended 31-03-2019 and balance sheet as on date
IMAGE GIVEN BELOW:

Answer 1

Answer:

• From the undernoted trail balance of a trader as on 31-03-2019 a trading and profit and
• From the undernoted trail balance of a trader as on 31-03-2019 a trading and profit andloss account for the year ended 31-03-2019 and balance sheet as on date

Answer 2

Answer:

Explanation:

Working notes:

Depreciation for plant @ 5% = 3,000

Depreciation for furniture @ 10% = 1,500

Reserve for bad debt

New reserve  = 50,000 × 2,500

Old reserve = (1,200)

New reserve = 1,300