₹ | |
Purchases | 1,56,000 |
Salary and Wages | 21,400 |
Trade Expenses | 7,200 |
For business premises | 5,920 |
For private house | 2,960 |
Payments made for domestic purposes and drawings | 26,400 |
Trading Account for the year ended 31st March, 2018
|
||||||
Dr. |
|
Cr.
|
||||
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
|||
Opening Stock |
35,000
|
Sales |
2,45,000
|
|||
Purchases: Cash |
1,56,000
|
Closing Stock |
37,500
|
|||
Credit |
13,500
|
1,69,500
|
||||
Gross Profit c/d |
78,000
|
|||||
2,82,500
|
2,82,500
|
|||||
|
|
Profit and Loss Account
for the year ended March 31, 2018
|
|||||
Dr. |
|
Cr.
|
|||
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
||
Salary and Wages |
21,400
|
Gross Profit b/d |
78,000
|
||
Trade Expenses |
7,200
|
||||
Rent for Business Premises |
5,920
|
||||
Provision for Doubtful Debts |
1,000
|
|
|||
Depreciation on Furniture |
250
|
||||
Interest on wife’s loan |
1,000
|
||||
Net Profit t/d to Capital |
41,230
|
||||
78,000
|
78,000
|
||||
|
|
Balance Sheet
as on March 31, 2018
|
||||||
Liabilities
|
Amount
(₹)
|
Assets
|
Amount
(₹)
|
|||
Creditors |
13,500
|
Cash Balance |
15,120
|
|||
Wife’s Loan from Wife |
20,000
|
Stock |
37,500
|
|||
Add: O/s Interest |
1,000
|
21,000
|
Furniture |
5,000
|
|
|
Capital |
40,000
|
Less: Depreciation |
250
|
4,750
|
||
Less: Drawings |
29,360
|
Debtors |
15,000
|
|
||
10,640
|
Less: Provision for Doubtful Debts |
1,000
|
14,000
|
|||
Add: Net Profit |
41,230
|
51,870
|
Goodwill |
15,000
|
||
|
86,370
|
|
86,370
|
|||
|
Cash Account
|
|||
Liabilities
|
Amount
(₹)
|
Assets
|
Amount
(₹)
|
Capital |
40,000
|
Goodwill |
15,000
|
Wife’s Loan |
20,000
|
Furniture |
5,000
|
Debtors |
2,30,000
|
Stock |
35,000
|
Purchases |
1,56,000
|
||
|
Salary and Wages |
21,400
|
|
Trade Expenses |
7,200
|
||
|
|
Rent for Business Premises |
5,920
|
Drawings( 2,960+26,400) |
29,360
|
||
Balance c/d |
15,120
|
||
|
2,90,000
|
2,90,000
|
|
|
|
|
|
Dr. |
Creditors Account
|
Cr.
|
|||
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
||
|
|
||||
Balance c/d | 13,500 | Purchases-Credit (B/F) | 13,500 | ||
13,500
|
13,500
|
||||
|
|
Dr. |
Debtors Account
|
Cr.
|
|||
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
||
Sales A/c (B/F) |
2,45,000
|
Cash |
2,30,000
|
||
|
Balance c/d |
15,000
|
|||
2,45,000
|
2,45,000
|
||||
|
|