Illustration 7 The books of Rajendra showed the following information. 31-12-2003 31-12-2004 Rs. 9,975 12,500 17,500...

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Illustration 7 The books of Rajendra showed the following information. 31-12-2003 31-12-2004 Rs. 9,975 12,500 17,500 9,250 1,500 Cash in hand and at Bank Stock Trade Debtor Trade Creditor Sundry Assets The Cash Books provides the following: Receipts from debtors Rs.68,000-. Private dividends paid in Rs. 1000: Indirect expenses Rs.9,825; Drawings Rs.2,300; Payment to Trade Creditors Rs.56,000; Discount allowed by them Rs.600 Additional information: 1) Cost of goods sold during the year Rs 52,650 2) He maintains a steady gross profit @ 25 on sale 3) Bad debts written off during the period Rs 200 and past bad debts (already written off) recovered Rs. 100. asesinain Rs. 1,700 10,000 ? ? 1,500 You are required to prepare: 1) Trading and profit and loss account for the year ending 31-12-2004; 2) Balance Sheet as on that date Solution Illustration 7 The books of Rajendra showed the following information. 31-12-2003 31-12-2004 Rs. 9,975 12,500 17,500 9,250 1,500 Cash in hand and at Bank Stock Trade Debtor Trade Creditor Sundry Assets The Cash Books provides the following: Receipts from debtors Rs.68,000-. Private dividends paid in Rs. 1000: Indirect expenses Rs.9,825; Drawings Rs.2,300; Payment to Trade Creditors Rs.56,000; Discount allowed by them Rs.600 Additional information: 1) Cost of goods sold during the year Rs 52,650 2) He maintains a steady gross profit @ 25 on sale 3) Bad debts written off during the period Rs 200 and past bad debts (already written off) recovered Rs. 100. asesinain Rs. 1,700 10,000 ? ? 1,500 You are required to prepare: 1) Trading and profit and loss account for the year ending 31-12-2004; 2) Balance Sheet as on that date Solution