Question

Question:- From the following Trial balance of Shri Rai Bahadur prepare Trading and Profit

Loss A/c for the year ending 31st December, 2014 and Balance Sheet as on that

date. The Closing Stock on 31st December, 2014 was valued at Rs. 25,000.

Debit Balances Rs. Credit Balances Rs.

Stock (1.1.2014) 20,000 Sundry Creditors 15,000

Purchases 75,000 Purchases Return 3,000

Sales Return 8,000 Sales 2,50,000

Freight and Carriage 7,500 Commission 3,300

Capital 1,70,000

Wages 36,500 Interest on Bank Deposit 2,000

B/P 6,200

Salaries 12,000

Repairs 1,200

Trade Expenses 4,000

Rent and Taxes 24,000

Cash in Hand 5,700

B/R 4,000

Debtors 55,000

Plant and Machinery 1,60,000

Withdrawals (Drawings) 16,600

Bank Deposit 20,000

4,49,500 4,49,500

Answer 1

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Answer 2

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