1.

Prepare Trading and Profit and Loss Account and Balance Sheet from the following balances, relating to the year ended 31st March, 2019: ₹ ₹ Capital 1,00,000 Wages 50,000 Creditors 12,000 Bank 10,000 Returns Outward 5,000 Repairs 500 Sales 1,64,000 Stock on 1st April, 2018 20,000 Bills Payable 5,000 Rent 4,000 Plant and Machinery 40,000 Manufacturing Expenses 8,000 Sundry Debtors 24,000 Trade Expenses 7,000 Drawings 10,000 Bad Debts 2,000 Purchases 1,05,000 Carriage 1,500 Returns Inward 3,000 Fuel and Power 1,000 Additional Information:(i) Closing Stock was valued at ₹ 14,500.(ii) Depreciate Plant and Machinery by ₹ 4,000.(iii) Write off Bad Debts ₹ 5,000.(iv) ₹ 400 is due for repairs.

Answer» Prepare Trading and Profit and Loss Account and Balance Sheet from the following balances, relating to the year ended 31st March, 2019:











































































Capital
1,00,000

Wages
50,000

Creditors
12,000

Bank
10,000

Returns Outward
5,000

Repairs
500

Sales
1,64,000

Stock on 1st April, 2018
20,000

Bills Payable
5,000

Rent
4,000

Plant and Machinery
40,000

Manufacturing Expenses
8,000

Sundry Debtors
24,000

Trade Expenses
7,000

Drawings
10,000

Bad Debts
2,000

Purchases
1,05,000

Carriage
1,500

Returns Inward
3,000

Fuel and Power
1,000




Additional Information:

(i) Closing Stock was valued at ₹ 14,500.

(ii) Depreciate Plant and Machinery by ₹ 4,000.

(iii) Write off Bad Debts ₹ 5,000.

(iv) ₹ 400 is due for repairs.


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