From the following particulars presented by Aby for the year ended 31st March, 2017, prepare profit...

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From the following particulars presented by Aby for the year ended 31st March, 2017, prepare profit and loss account. Particulars Gross profit Rent paid Salaries Commission (Cr.) Discount received Insurance premium paid Particulars 1,00,000 Interest received 22,000 Bad debts 10,000 Provision for bad debts (1-4-2016) 12,000 Sundry debtors 2,000 Buildings 8,000 6,000 2,000 4,000 40,000 80,000 Adjustments: i. 11. 111. iv. V. Outstanding salaries amounted to Rs. 4,000 vii. Rent paid for 11 months Interest due but not received amounted to Rs. 2,000 Prepaid insurance amounted to Rs. 2,000 Depreciate buildings by 10% vi. Further bad debts amounted to Rs. 3,000 and make a provision for bad debts @ 5% on sundry debtors Commission received in advance amounted to Rs. 2,000 Adjustments: i. 11. 111. iv. V. Outstanding salaries amounted to Rs. 4,000 vii. Rent paid for 11 months Interest due but not received amounted to Rs. 2,000 Prepaid insurance amounted to Rs. 2,000 Depreciate buildings by 10% vi. Further bad debts amounted to Rs. 3,000 and make a provision for bad debts @ 5% on sundry debtors Commission received in advance amounted to Rs. 2,000 From the following particulars presented by Aby for the year ended 31st March, 2017, prepare profit and loss account. Particulars Gross profit Rent paid Salaries Commission (Cr.) Discount received Insurance premium paid Particulars 1,00,000 Interest received 22,000 Bad debts 10,000 Provision for bad debts (1-4-2016) 12,000 Sundry debtors 2,000 Buildings 8,000 6,000 2,000 4,000 40,000 80,000 Adjustments: i. 11. 111. iv. V. Outstanding salaries amounted to Rs. 4,000 vii. Rent paid for 11 months Interest due but not received amounted to Rs. 2,000 Prepaid insurance amounted to Rs. 2,000 Depreciate buildings by 10% vi. Further bad debts amounted to Rs. 3,000 and make a provision for bad debts @ 5% on sundry debtors Commission received in advance amounted to Rs. 2,000 Adjustments: i. 11. 111. iv. V. Outstanding salaries amounted to Rs. 4,000 vii. Rent paid for 11 months Interest due but not received amounted to Rs. 2,000 Prepaid insurance amounted to Rs. 2,000 Depreciate buildings by 10% vi. Further bad debts amounted to Rs. 3,000 and make a provision for bad debts @ 5% on sundry debtors Commission received in advance amounted to Rs. 2,000

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