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The following is the trial balance of Manju Chawla on 31st March, 2016. You are required to prepare trading and profit and loss account and a balance sheet as on date. Name of AccountDebit (Rs.)Credit (Rs.)Opening Stock 10,000 −Purchases and Sales40,00080,000Returns 200 600Productive Wages 6,000 −Dock and Clearing Charges 4,000 −Donation and Charity 600 −Delivery Van Expenses 6,000 −Lighting 500 −Sales Tax Collected − 1,000Bad Debts 600 −Miscellaneous Incomes − 6,000Rent from Tenants − 2,000Royalty 4,000 −Capital − 40,000Drawings 2,000 −Debtors and Creditors 6,000 7,000Cash 3,000 −Investment 6,000 −Patents 4,000 −Land and Machinery43,000 − Closing stock Rs. 2,000. |
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Answer» The following is the trial balance of Manju Chawla on 31st March, 2016. You are required to prepare trading and profit and loss account and a balance sheet as on date. Name of AccountDebit (Rs.)Credit (Rs.)Opening Stock 10,000 −Purchases and Sales40,00080,000Returns 200 600Productive Wages 6,000 −Dock and Clearing Charges 4,000 −Donation and Charity 600 −Delivery Van Expenses 6,000 −Lighting 500 −Sales Tax Collected − 1,000Bad Debts 600 −Miscellaneous Incomes − 6,000Rent from Tenants − 2,000Royalty 4,000 −Capital − 40,000Drawings 2,000 −Debtors and Creditors 6,000 7,000Cash 3,000 −Investment 6,000 −Patents 4,000 −Land and Machinery43,000 − Closing stock Rs. 2,000. |
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