31-12-2017 | 31-12-2018 | |
₹ | ₹ | |
Furniture and Fitting | 50,000 | 60,000 |
Stock | 30,000 | 10,000 |
Sundry Debtors | 60,000 | 70,000 |
Sundry Creditors | 20,000 | NIL |
Prepaid Expenses | NIL | 2,000 |
Outstanding Expenses | 6,000 | 10,000 |
Cash in hand | 11,000 | 3,000 |
Receipts and Payments in 2018: | ||
Receipts from Debtors | 2,10,000 | |
Paid to Creditors | 1,00,000 | |
Cartage | 20,000 | |
Drawings | 1,20,000 | |
Sundry Expenses | 1,60,000 | |
Furniture Purchased for Cash | 10,000 |
Trading Account
for the year ended 31 December, 2018
|
|||
Dr.
|
|
|
Cr.
|
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
Opening Stock
|
30,000
|
Sales (Cash + Credit)
|
4,12,000
|
Purchases (Credit)
|
80,000
|
Closing Stock
|
10,000
|
Cartage
|
20,000
|
|
|
Gross Profit
|
2,92,000
|
|
|
|
4,13,000
|
|
4,13,000
|
|
|
|
|
Profit & Loss Account
for the year ended 31 December, 2018
|
|||
Dr.
|
|
|
Cr.
|
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
Sundry Expenses
|
1,60,000
|
Gross Profit
|
2,92,000
|
Provision for Bad Debts
|
7,000
|
Prepaid Expenses
|
2,000
|
Outstanding Expenses
|
4,000
|
|
|
Net Profit
|
1,23,000
|
|
|
|
2,94,000
|
|
2,94,000
|
|
|
|
|
Balance Sheet
as on 31 December, 2018
|
||||
Dr.
|
|
|
Cr.
|
|
Liabilities
|
Amount
(₹)
|
Assets
|
Amount
(₹)
|
|
Capital
|
1,25,000
|
|
Furniture & Fittings
|
60,000
|
Less: Drawings
|
1,20,000
|
|
Stock
|
10,000
|
Add: Net Profit
|
1,23,000
|
1,28,000
|
Debtors (70,000 – 7,000)
|
63,000
|
Outstanding Expenses
|
10,000
|
Prepaid Expenses
|
2,000
|
|
|
|
Cash in hand
|
3,000
|
|
|
|
|
|
|
|
1,38,000
|
|
1,38,000
|
|
|
|
|
|
Balance Sheet
as on 31 December, 2017
|
|||
Dr.
|
|
|
Cr.
|
Liabilities
|
Amount
(₹)
|
Assets
|
Amount
(₹)
|
Creditors
|
20,000
|
Furniture & Fittings
|
50,000
|
Outstanding Expenses
|
6,000
|
Stock
|
30,000
|
Capital (Balancing figure)
|
1,25,000
|
Debtors
|
60,000
|
|
|
Cash in hand
|
11,000
|
|
|
|
|
|
1,51,000
|
|
1,51,000
|
|
|
|
|
Cash Account
|
|||
Dr.
|
|
|
Cr.
|
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
Balance b/d
|
11,000
|
Creditors A/c
|
1,00,000
|
Debtors A/c
|
2,10,000
|
Cartage A/c
|
20,000
|
Sales A/c (Balancing Figure)
|
1,92,000
|
Drawings A/c
|
1,20,000
|
|
|
Sundry Expenses A/c
|
1,60,000
|
|
|
Furniture A/c
|
10,000
|
|
|
Balance c/d
|
3,000
|
|
4,13,000
|
|
4,13,000
|
|
|
|
|
Debtors Account
|
|||
Dr.
|
|
|
Cr.
|
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
Balance b/d
|
60,000
|
Cash A/c
|
2,10,000
|
Sales A/c
|
2,20,000
|
Balance c/d
|
70,000
|
|
|
|
|
|
2,80,000
|
|
2,80,000
|
|
|
|
|
Creditors Account
|
|||
Dr.
|
|
|
Cr.
|
Particulars
|
Amount
(₹)
|
Particulars
|
Amount
(₹)
|
Cash A/c
|
1,00,000
|
Balance b/d
|
20,000
|
|
|
Purchases A/c
|
80,000
|
|
|
|
|
|
1,00,000
|
|
1,00,000
|
|
|
|
|