From the following Trial Balance of Sh. Raghu Ram, Prepare Trading, Profit & Loss Account for the year ended 31st December, 2017 and Balance Sheet as on that date:
|
| Dr. Rs. | Cr. Rs. |
| Purchases and Sales | 375,000 | 4,20,000 |
| Returns Inwards | 15,000 |
|
| Returns Outwards |
| 10,000 |
| Carriage | 12,400 |
|
| Wages and Salaries | 52,600 |
|
| Trade Expenses | 2,200 |
|
| Rent |
| 12,000 |
| Insurance | 1700 |
|
| Audit Fees | 1,500 |
|
| Debtors and Creditors | 10,000 | 50100 |
| B/R and B/P | 3,300 | 2,200 |
| Printing and Advertising | 5,500 |
|
| Commission |
| 13000 |
| Opening Stock | 36,000 |
|
| Cash in hand | 18800 |
|
| Cash in Bank | 26,800 |
|
| Bank Loan |
| 20,000 |
| Interest on Loan | 1,500 |
|
| Capital |
| 2,50,000 |
| Drawings | 15,000 |
|
| Fixed Assets | 2,00,000 |
|
|
| 777,300 | 7,77,300 |
Adjustments:-
- Stock at the end Rs. 50,000
- Depreciate Fixed Assets by 8%
- Commission earned but not received amounts to Rs. 600
- Rent received in advance Rs. 1,000
- Allow 7% interest on Capital and charge Rs. 900 as interest on Drawings.
"0" cellspacing="0" style="width:500px"> Particular Amount Particular Amount To opening stock 36,000 by sales 4,20,000 ''purchash 3,75,000 by Returns 15,000 4,05,000 To Returns 10,000 3,65,000 by Closing stock 50,000 '' corriage 12,400 by Gross Loss 11,000 wages and salaeris 52,600 4,66,000 4,66,000 To Gross loss 11,000 To trade expenses 2,200 To Insurance 1,700 by Rent 12000 To Audit fees 1,500 by Advence 1000 11,000 To Printing and advertising 5,500 To
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