Question

A merchant has earned a Net Profit of ₹ 57,200 for the year ended 31st March, 2017. Other balances in his Ledger are as under:-

Dr. Balances			(₹)	Cr. Balances	(₹)
Cash at Bank			4,800	Bills Payable	3,200
Cash in Hand			1,200	Creditors	61,300
Furniture and Fixtures			7,500	Loan	50,000
Debtors			80,100	Capital	3,32,300
Closing Stock			70,000
Motor Car			40,000
Building			1,50,000
Plant and Machinery			1,20,000
Bills Receivable			4,400
Investments			20,000
Drawings			6,000

Prepare his Balance Sheet as at 31st March, 2017.

Answer 1

Balance Sheet as on March 31, 2017
Liabilities		Amount (Rs)	Assets	Amount (Rs)
Capital	3,32,300		Fixed Assets
Add: Net Profit	57,200		Furniture & Fixtures	7,500
Less: Drawings	6,000	3,83,500	Motor Car	40,000
Loan		50,000	Building	1,50,000
			Plant & Machinery	1,20,000
Current Liabilities			Current Assets
Creditors		61,300	Closing Stock	70,000
Bills Payable		3,200	Debtors	80,100
			Bills Receivable	4,400
			Investments	20,000
			Cash at Bank	4,800
			Cash in Hand	1,200
		4,98,000		4,98,000