Following balances are extracted from the books of Kautilya and co. On 31st march, 2022. You...

 

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Following balances are extracted from the books of Kautilya and co. On 31st march, 2022. You are required to make the necessary closing entries and to prepare the trading and P/L a/c and a balance sheet as on that date. Particulars Purchases Trade expenses Wages Office expenses Insurance Cash in hand Sundry debtors Cash at bank Carriage inward Rent and taxes Commission Dr. Carriage outward Interest on capital Sales Stationery Bills payable Returns inward Creditors Capital Closing stock Amount Rs 19,500 100 1400 500 550 250 15000 2375 400 550 400 725 350 @5000 225 1500 650 9,825 8,950 12500 Time left 2:29:39 Following balances are extracted from the books of Kautilya and co. On 31st march, 2022. You are required to make the necessary closing entries and to prepare the trading and P/L a/c and a balance sheet as on that date. Particulars Purchases Trade expenses Wages Office expenses Insurance Cash in hand Sundry debtors Cash at bank Carriage inward Rent and taxes Commission Dr. Carriage outward Interest on capital Sales Stationery Bills payable Returns inward Creditors Capital Closing stock Amount Rs 19,500 100 1400 500 550 250 15000 2375 400 550 400 725 350 @5000 225 1500 650 9,825 8,950 12500 Time left 2:29:39

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Answer To prepare the trading and profit loss account as well as the balance sheet we need to go thr... View the full answer