Question

Question 24.
From the following balances taken from the books of Hari & Co., prepare Trading and Profit and Loss Account for the year ended 31st March, 2018
and Balance Sheet as at that date:

Closing Stock was valued at ₹ 1,82,100.

Answer 1

Answer:

Hope you have understood

Answer 2

The Answer is given Below in the attachment Section. Hope this will help you.

Explanation:

I have prepared trading account then profit and loss account and finally the balance sheet. Please find all the attachments below.

With the help of the trading account we first found the gross profit. Then by the gross profit we found the net profit which is transferred to the capital account of the proprietor and then finally the balance sheet of the firm.