Prepare Trading and Profit and Loss account and Balance sheet from the following particulars as on March 31, 2011. Account TitleAmt. (Dr.)Amt. (Cr.)Purchase and Sales3,52,0005,60,000Return Inwards and Return Outwards 9,600 12,000Carriage Inwards 7,000Carriage Outwards 3,360Fuel and Power 24,800Opening Stock 57,600Bad Debts 9,950Debtors and Creditors1,31,200 48,000Capital3,48,000Investment 32,000Interest on Investment 3,200Loan 16,000Repair 2,400General Expenses 17,000Wages and Salaries 28,800Land and Buildings2,88,000Cash in Hand 32,000Miscellaneous Receipts 160Sales Tax Collected 8,350 Closing Stock Rs. 30,000.

Prepare Trading and Profit and Loss account and Balance sheet from the

1.	Prepare Trading and Profit and Loss account and Balance sheet from the following particulars as on March 31, 2011. Account TitleAmt. (Dr.)Amt. (Cr.)Purchase and Sales3,52,0005,60,000Return Inwards and Return Outwards 9,600 12,000Carriage Inwards 7,000Carriage Outwards 3,360Fuel and Power 24,800Opening Stock 57,600Bad Debts 9,950Debtors and Creditors1,31,200 48,000Capital3,48,000Investment 32,000Interest on Investment 3,200Loan 16,000Repair 2,400General Expenses 17,000Wages and Salaries 28,800Land and Buildings2,88,000Cash in Hand 32,000Miscellaneous Receipts 160Sales Tax Collected 8,350 Closing Stock Rs. 30,000.
Answer» Prepare Trading and Profit and Loss account and Balance sheet from the following particulars as on March 31, 2011. $\begin{matrix} Account Title & Amt. (Dr.) & Amt. (Cr.) Purchase and Sales & 3, 52, 000 & 5, 60, 000 Return Inwards and Return Outwards & 9, 600 & 12, 000 Carriage Inwards & 7, 000 Carriage Outwards & 3, 360 Fuel and Power & 24, 800 Opening Stock & 57, 600 Bad Debts & 9, 950 Debtors and Creditors & 1, 31, 200 & 48, 000 Capital & 3, 48, 000 Investment & 32, 000 Interest on Investment & 3, 200 Loan & 16, 000 Repair & 2, 400 General Expenses & 17, 000 Wages and Salaries & 28, 800 Land and Buildings & 2, 88, 000 Cash in Hand & 32, 000 Miscellaneous Receipts & 160 Sales Tax Collected & 8, 350 \end{matrix}$ Closing Stock Rs. 30,000.

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