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10 views1 page

Assignment Ans

Uploaded by

tanishkasurve2021
Copyright
© © All Rights Reserved
Available Formats
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Trading Account

Particulars Amount (Rs.) Particulars Amount (Rs.)


Opening Stock 25000 Sales 212000
Purchases 98000 Less: Return Inward -2000
Less: Return Outward -2300 Closing Stock 26000
Wages 21000
Add: Outstanding Wages 1800
Carriage Inward 10000
Gross Profit c/d 82500
153500 236000

P&L Acccount
Particulars Amount (Rs.) Particulars Amount (Rs.)
Salaries 32000 Gross Profit b/d 82500
Add: Outstanding Salaries 3800 Rent Received 3200
Printing and Stationery 17000 Add: Rent from let-out building (4 months) 4000
Add: Outstanding Printing 1200
Insurance Expense (6 months) 1100
Carriage Outward 12000
Advertising 14000
Depreciation on Machinery (10%) 6000
Interest on loan 720
Loss on Revaluation of Patents 1800
Net Profit c/d 80
89620 89700

Balance Sheet as on 31.03.24


Liabilities Assets
Particulars Amount (Rs.) Particulars Amount (Rs.)
Capital 110000 Land and BuildingBuilding 35000
Add: Net Profit 80 Machinery 60000
Less: DrawingsDrawings (if any) Dep 10% 6000 54000
Creditors 35000 Debtors 30000
Outstanding Wages 1800 Closing Stock 26000
Outstanding Salaries 3800 Cash 2300
Patents 20000
Outstanding Printing Expense 1200 -1800 18200
LoanLoan from Mr. Y 18000 Prepaid Insurance (6 months) 1100
Add: Interest on Loan (4 months) 720 Rent receivable 4000
Total Liabilities 170600 Total Assets 170600

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