From the following balances prepare trading and profit and loss account and balance sheet for the year
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From the following balances prepare trading and profit and loss account and balance sheet for the year ended March 31, 2006
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Account Title Opening stock Purchases Sales Returns (Dr.) Returns (Cr.) Factory rent Custom duty Coal, gas & power Wages and salary Discount (Dr.) Commission (Cr.) Bad debts Bad debts recovered Apprenticeship premium Production expenses Adminstrative expenses Carriage Account Title Amount Rs. 15,310 82,400 256,000 Sundry debtors 4,000 Sundry creditors 2,400 Depreciation 18,000 Capital Drawings Charity Cash balance Bank balance Bank charges Establishment expenses 11,500 6,000 36,600 7,500 1,200 Plant 5,850 Leasehold building 2,000 Sales tax collected 4,800 Goodwill 2,600 Patents 5,000 Trademark 8,700 Loan (Cr.) Interest on loan The value of closing stock on March 31, 2006 was Rs. 25,400 Amount Rs. 2,50,000 48,000 57,000 12,000 4,200 500 4,460 4,000 180 3,600 42,000 1,50,000 2,000 20,000 10,000 5,000 25,000 3,000
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