Question

The following is the trial balance of atul at 31st March 2021

Answer 1

Answer

balances as on 31st March, 2021, Trial Balance:

Answer 2

Answer:

Please find the attached financial statements of Atul for the financial year 31st March 2001

Explanation:

Please check the attached prepared financial statement of Mr. Atul for the year ended 31-03-2021. Results are as follows:

1) Gross profit = 42800

2) Net profit = 19400

3) Balance sheet Total = 93400

Explanation:

Trading account signifies the balances of direct expenses and direct income.

Profit and loss account signifies the balances of indirect expenses and indirect income.

Balance sheet is a statement of financial position which is a division of current and non current assets and liabilities respectively.