Q1. From the following balances prepare Trading and Profit & Loss Account only for the year...

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Q1. From the following balances prepare Trading and Profit & Loss Account only for the year ended 31st March 2019 in the books of Sohan: Particulars Opening Stock Purchases Rs. 32000 171000 4000 Return Outward Sales 289600 Wages 23000 Carriage Inward 1500 Power 8000 Returns Inward 600 Rent Received 600 Bad Debts Reserve 600 Advertisement and Development 8000 Rent and Insurance 19900 Depreciation on Machinery 1000 Salaries 34400 Dividend Received 1800 General Charges 8200 Travelers Commission 2890 Travelers Salaries 9100 Discount Allowed 5000 Capital A/C 41000 Creditors: Trade 30000 Expenses 6800 Plant and Machinery 20000 Goodwill 5000 Travelers Sample 2700 Debtors 14600 Drawings 5000 Cash at Bank 2000 Cash in Hand Prepaid Expenses Adjustments: 110 400 i. Closing Stock is valued at Rs. 31400. There was a loss by fire to the extent of Rs. 2000 after valuation of stock not covered by insurance. ii. Bad Debts incurred Rs. 1000 and provide 5% on Debtors. iii. Written off Advertisement and Development Expenses by Rs. 2900 iv. 5% of the net profit as commission after charging such commission to be allowed to manager. v. Expenses of Rs. 200 paid for proprietor charged to General Charges Account. Q1. From the following balances prepare Trading and Profit & Loss Account only for the year ended 31st March 2019 in the books of Sohan: Particulars Opening Stock Purchases Rs. 32000 171000 4000 Return Outward Sales 289600 Wages 23000 Carriage Inward 1500 Power 8000 Returns Inward 600 Rent Received 600 Bad Debts Reserve 600 Advertisement and Development 8000 Rent and Insurance 19900 Depreciation on Machinery 1000 Salaries 34400 Dividend Received 1800 General Charges 8200 Travelers Commission 2890 Travelers Salaries 9100 Discount Allowed 5000 Capital A/C 41000 Creditors: Trade 30000 Expenses 6800 Plant and Machinery 20000 Goodwill 5000 Travelers Sample 2700 Debtors 14600 Drawings 5000 Cash at Bank 2000 Cash in Hand Prepaid Expenses Adjustments: 110 400 i. Closing Stock is valued at Rs. 31400. There was a loss by fire to the extent of Rs. 2000 after valuation of stock not covered by insurance. ii. Bad Debts incurred Rs. 1000 and provide 5% on Debtors. iii. Written off Advertisement and Development Expenses by Rs. 2900 iv. 5% of the net profit as commission after charging such commission to be allowed to manager. v. Expenses of Rs. 200 paid for proprietor charged to General Charges Account.