1.

The following Legder Balances were extracted from the books of Aakash Deep on 31-03- 2019. Prepare Profit and Loss account for him. Gross Loss 6,000 Interest Received 30,000 Rent (paid) 5,000 Discount Allowed 3,000 Telephone expenses 2,000 Depreciation on machinery4,000

Answer»
ParticularsAmount (Rs)ParticularsAmount (Rs.)
To Rent 5,000 By Gross Loss 6,000 
To Discount allowed 3,000 By Interest Received 30,000 
To Telephone expenses 2,000 
To Depreciation on machinery4,000 
To Net Profit 22,000 
36,00036,000 


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