Question

Mr A, a shopkeeper had prepared the following trial balance from his ledger on 31st March, 2009:

DEBIT:

Purchases : 6,20,000

Cash in hand: 4,200

Cashi at Bank: 24,000

Stock of goods on 1st April,2008: 1,00,000

Drawings: 8,000

Salaries:64,000

Postage and telephone: 23,000

Salesman commission: 70,000

Insurance; 18,000

Advertisementt: 34,000

Furniture: 44,000

Printing and Stationary:6,000

Motor Car: 96,000

Bad debts: 4,000

Cash Discount: 8,000

General Expenses : 60,000

Carriage Inward: 20,000

Carriage Outward : 44,000

Wages: 40,000

Debtors: 2,00,000

Total: 14,87,200

CREDIT

Sales: 8,30,000

Capital: 5,77,200

Creditors: 80,000

Total: 14,87,200

You are requested to prepare a Tradin and Profit & Loss Account for the year ended on 31st March, 2009 and a Balance Sheet as on that date.

You are also given the following information


Cost of goods in stock as on 31st March,2009 Rs 1,45,000

Mr A had withdrawn goods worth Rs 5,000 during the year.

Purchases include purchase of furnituere worth Rs 10,000

Debtors include rs 5,000 bad debts

Creditors include a balance of rs 4,000 to the credit of Mr Biman in respect of which it has been decided and settled with the party to pay only rs 1,000

Sales include goods worth rs 15,000 sent to Kundu &Co. On approval and remaining unsold as on 31st March,2009 the cost of the goods was Rs 10,000

Provision for bad debts is to be created at 5% on sundry debtors

Depreciate furniture by 15% and motor car by 20%

The salesmen are entitled to a commission on 10% on total sales

Answer 1

Explanation:

Jao beta aish Karo ye brainly me Thoda image cropping ka problem Hai figures se kaam chalane ka try karo