the following are the balances extracted from the books of mr. arjun as on 31-12-2016. prepare trading.profit.and loss a/c and balance sheet particular amount rs. opening stock 20000. machinery.4000. purchase. 70000.capital 100000.purchase returns 1000 sales 90000. sales return 1000. wages 2000. salaries 5000. rent 2000. insurance1000. debtors 50000. cash 4000. bank 25000. creditors 29000
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Answer:
Given:-
in the book of mr Arjun as on 31/12/2016
- Opning stock = 20000 ( Tr . Dr)
- machinery =4000 (b /s) A
- purchase = 70000 ( Tr .Dr)
- capital =100000 ( b /s ) L
- purchase returen = 1000
- sales = 90000 ( Tr .Cr)
- sales return = 1000( Tr .Cr)
- wages = 2000( Tr .Dr)
- salaries =5000 ( P /L) D r
- rent=2000( P /L) D r
- insurance = 1000( P /L) D r
- debtors = 50000 ( B / S ) A
- cash =4000( B / S ) A
- bank =25000( B / S ) A
- creditors =29000( B / S ) L
To find:-
- Treding account
- profit and loss account
- balnace sheet
Solution:-
here,
first we will find
1 )Treding account:-
2) profit and loss account
3) Balnce sheet
there is not given closing stock
this sum will not tally .....still i hope it will help u..
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