sanjay and sudhir are partner sharing profit and losses in the ratio 3:2 . The trial balance of the firm on 31st march ,2010 was as follows.
you have to prepare trading and profit and loss account for the year ended 31st march 2012 and balance sheet as on that date
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Explanation:
Trading Account
Opening stock 20000 Sales 70000
Purchase 30000 Closing stock 35000
Add: purchases 4000
Wages 5000
Add: o/s wages 2000
Power 3000
Gross profit 41000
105000 105000
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