Answer 1

Financial Statement of Anand
Trading Account for the year ended March 31, 2014
Dr.					Cr.
Particulars		Amount (Rs)	Particulars	Amount (Rs)
Opening Stock		9,945	Sales	78,182
Purchases		62,092	Closing Stock	14,300
Wages		4,300
Gross Profit (Balancing Figure)		16,145
		92,482		92,482

Profit and Loss Account for the year ended March 31, 2014
Dr.					Cr.
Particulars		Amount (Rs)	Particulars	Amount (Rs)
Salaries		4,000	Gross Profit	16,145
Discount		1,000
Postage		273
Bad Debts		287
Interest		1,295
Insurance		417
Net Profit (Balancing Figure)		8,873
		16,145		16,145

Balance Sheet as on March 31, 2014
Liabilities		Amount (Rs)	Assets	Amount (Rs)
Capita	36,000		Fixed Assets
Add: Net Profit	8,873	44,873	Building	23,780
Loan		12,000	Machinery	10,000
Current Liabilities			Fixtures and fittings	16,155
Creditors		8,720	Current Assets
Bills Payable		2,527	Closing Stock	14,300
			Debtors	3,885
		68,120		68,120