Illustration 18 From the following information, you are required to prepare Trading and Profit and Loss...
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Illustration 18 From the following information, you are required to prepare Trading and Profit and Loss Account for the year ended 31 st December 2004 and a Balance Sheet as on that date. 1-01-2004 Assets and Liabilities Creditors General Expenses Owing Sundry Assets Stock Cash in hand and at Bank Debtors Details relating to the year's transactions are: Cash and discount credited to Debtors 32,000 Returns from Debtors 725 Bad debts 210 Sales-cash and credit Discount allowed by creditors Returns to creditors Rs. 7,885 300 5,805 4,020 3,480 ? 35,905 350 200 31-12-2004 Rs. 6.200 165 6,020 5,560 4,040 8,945 Capital introduced (paid into Bank) Receipts from Debtor (paid into Bank) Cash purchases Expenses paid by cash Purchase of Machinery by cheque Drawings by cheque Cash payments into bank. Withdrawn from Bank into cash Cash in hand at end Payments to creditors by cheque 4,250 31,250 515 4,785 215 1,590 2.500 4.620 600 30,135 Illustration 18 From the following information, you are required to prepare Trading and Profit and Loss Account for the year ended 31 st December 2004 and a Balance Sheet as on that date. 1-01-2004 Assets and Liabilities Creditors General Expenses Owing Sundry Assets Stock Cash in hand and at Bank Debtors Details relating to the year's transactions are: Cash and discount credited to Debtors 32,000 Returns from Debtors 725 Bad debts 210 Sales-cash and credit Discount allowed by creditors Returns to creditors Rs. 7,885 300 5,805 4,020 3,480 ? 35,905 350 200 31-12-2004 Rs. 6.200 165 6,020 5,560 4,040 8,945 Capital introduced (paid into Bank) Receipts from Debtor (paid into Bank) Cash purchases Expenses paid by cash Purchase of Machinery by cheque Drawings by cheque Cash payments into bank. Withdrawn from Bank into cash Cash in hand at end Payments to creditors by cheque 4,250 31,250 515 4,785 215 1,590 2.500 4.620 600 30,135
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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