Question

) The following Trial Balance extracted from the books of Mr. Pradeep as on 31-03-2020.

Particulars Debit(Rs.) Credit(Rs.)

Capital - 1,00,000

Plant & Machinery 78,000 -

Furniture 2,000 -

Sales 1,27,000

Purchases 80,000

Returns 1,000 750

Opening Stock 30,000

Discount 425 800

Debtors and Creditors 45,000 25,000

Salaries 7,550

Wages 10,000 -

Carriage Outwards 1,200

Rent 10,000 -

Advertisement 2,000 -

Cash 6,900 -

Bills Payable 20,525

2,74,075 2,74,075

Prepare Statement of Profit/ Loss for the year ended 31-03-2020 and Balance Sheet as on that date

after taking into account the following adjustments:

Adjustments:

a) Closing Stock was valued at Rs. 34,220

b) Allow interest at 10% p.a

c) Depreciate Plant & Machinery by 10% and Furniture by 6%

d) Outstanding Salary Rs. 550 and Pre-paid Rent Rs. 1,000​

Answer 1

Answer:

REFER THE FILES UPLOADED BELOW

Explanation: