From the trial balance and additional information given below, prepare Profit Loss Account for the year ended 31 st March 2019 and the Balance Sheet as on that date TRIAL BALANCE Details Dr (Rs) Cr (Rs) Opening Inventory (i e inventory as on 1 st April 2018) 10000 Purchases 50000 Direct Business Expenses 5000 Sales 70000 Other Income 15000 Indirect Business Expenses 8000 Capital 30000 Creditors 20000 Debtors 30000 Cash Bank Balance 17000 Fixed Assets 15000 TOTAL 135000 135000 Additional Information Provide for depreciation charge to the extent of 20 on fixed assets Provide for outstanding indirect expenses amounting to Rs 2000 Closing Inventory (as on 31 st March 2019) amounted to Rs 12000

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Question: From the trial balance and additional information given below, prepare Profit & Loss Account for the year ended 31 st March 2019 and the Balance

From the trial balance and additional information given below, prepare Profit & Loss Account for the year ended 31^st March 2019 and the Balance Sheet as on that date.

TRIAL BALANCE

Details	Dr. (Rs)	Cr. (Rs)
Opening Inventory (i.e. inventory as on 1^st April 2018)	10000
Purchases	50000
Direct Business Expenses	5000
Sales		70000
Other Income		15000
Indirect Business Expenses	8000
Capital		30000
Creditors		20000
Debtors	30000
Cash & Bank Balance	17000
Fixed Assets	15000
TOTAL	135000	135000

Additional Information

Provide for depreciation charge to the extent of 20% on fixed assets

Provide for outstanding indirect expenses amounting to Rs 2000

Closing Inventory (as on 31^st March 2019) amounted to Rs 12000.

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