The following is the Trial Balance of Kamal Enterprises for the year ended 31s December, 2019....

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The following is the Trial Balance of Kamal Enterprises for the year ended 31s" December, 2019. You are required to prepare a Profit and Loss account and Balance Sheet after taking into account the adjustments given below. Trial Balance Dr. Particulars Cr. Rs. Particulars Rs. Cash in Hand 500 Sales 1,50,300 5,000 12,000 8,000 1,000 2,000 3,500 27,000 Cash at bank 1,200 6,000 15,000 1,200 3,500 6,000 24,000 2,000 1,200 3,500 Purchase Returns Accounts Payable Bills Payable Discount received Office Furniture Accounts Receivables Commissions Bills Receivable Dividend received Power and Fuel Rent Received Plant and Machinery Office expenses Carriage inwards Carriage outwards Rent, Rates and Taxes Leasehold Premises Сapital 1,700 25,000 30,000 7,000 12,000 Wages Salaries Opening Inventory Sales Returns 2,000 60,000 7,000 2,08,800 Purchases Drawings 2,08,800 Adjustments: 1. Closing Inventory as on 31-12-2019, Rs. 18,000. 2. Depreciate Plant & Machinery at 10%. 3. Salaries outstanding Rs.1,000, Power & Fuel Outstanding Rs.2,000. 4. Rs.5,000 was spent on Plant & Machinery but wrongly included in wages. 5. To provide for bad & Doubtful debts for Rs.1,500. 6. Discount earned but not received Rs.100. 7. Commission due but not recorded Rs.200. 8. Rent received includes Rs.500 received in advance.. The following is the Trial Balance of Kamal Enterprises for the year ended 31s" December, 2019. You are required to prepare a Profit and Loss account and Balance Sheet after taking into account the adjustments given below. Trial Balance Dr. Particulars Cr. Rs. Particulars Rs. Cash in Hand 500 Sales 1,50,300 5,000 12,000 8,000 1,000 2,000 3,500 27,000 Cash at bank 1,200 6,000 15,000 1,200 3,500 6,000 24,000 2,000 1,200 3,500 Purchase Returns Accounts Payable Bills Payable Discount received Office Furniture Accounts Receivables Commissions Bills Receivable Dividend received Power and Fuel Rent Received Plant and Machinery Office expenses Carriage inwards Carriage outwards Rent, Rates and Taxes Leasehold Premises Сapital 1,700 25,000 30,000 7,000 12,000 Wages Salaries Opening Inventory Sales Returns 2,000 60,000 7,000 2,08,800 Purchases Drawings 2,08,800 Adjustments: 1. Closing Inventory as on 31-12-2019, Rs. 18,000. 2. Depreciate Plant & Machinery at 10%. 3. Salaries outstanding Rs.1,000, Power & Fuel Outstanding Rs.2,000. 4. Rs.5,000 was spent on Plant & Machinery but wrongly included in wages. 5. To provide for bad & Doubtful debts for Rs.1,500. 6. Discount earned but not received Rs.100. 7. Commission due but not recorded Rs.200. 8. Rent received includes Rs.500 received in advance..

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Sal Taading Profil and Los Ale Kamal Enidaprises fel the yeal ended 31st DA Decembe... View the full answer