From the following balances, prepare Final Accounts of M/s Mangal & Sons for the year ended 31st March, 2019: Opening Stock Rs 12,500, Bills Receivable Rs 2,000, Sales Rs 70,000, Purchases Rs 37,500, Creditors Rs 20,000, Salaries Rs 3,850, Insurfance Rs 200, Debtors Rs 32,500, Carriage Rs 1,450, Commission Rs 750, Interest Rs 900, Printing Rs 250, Bills Payable Rs 3,150, Returns In Rs 1,300, Returns Out Rs 500, Bank Rs 5,250, Rent and Taxes Rs 1,300, Furniture Rs 1,000, Capital Rs 7,100, Stock on 31st March, 2019 Rs 15,000

From the following balances, prepare Final Accounts of M/s Mangal & So

1.	From the following balances, prepare Final Accounts of M/s Mangal & Sons for the year ended 31st March, 2019: Opening Stock Rs 12,500, Bills Receivable Rs 2,000, Sales Rs 70,000, Purchases Rs 37,500, Creditors Rs 20,000, Salaries Rs 3,850, Insurfance Rs 200, Debtors Rs 32,500, Carriage Rs 1,450, Commission Rs 750, Interest Rs 900, Printing Rs 250, Bills Payable Rs 3,150, Returns In Rs 1,300, Returns Out Rs 500, Bank Rs 5,250, Rent and Taxes Rs 1,300, Furniture Rs 1,000, Capital Rs 7,100, Stock on 31st March, 2019 Rs 15,000
Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :Gross Profit - <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a> 32,750; <a href="https://interviewquestions.tuteehub.com/tag/net-5194" style="font-weight:bold;" target="_blank" title="Click to know more about NET">NET</a> Profit - Rs 25,500; Balance Sheet <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> - Rs 55,750</body></html>

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