Following was the Trial Balance of Mohan Brothers as on 31st March 2020. Prepare Trading and P & L Account and Balance Sheet. Stock on 31st March 2020 Was Rs. 32,500/-
Particulars | Debit Rs. | Credit Rs. |
Capital | 125000 | |
Building | 75000 | |
Cash | 6500 | |
Stock | 34500 | |
Furniture | 6500 | |
Debtors and Creditors | 40000 | 24000 |
Motor Cycle | 60000 | |
Bad Debts | 1750 | |
Provision for Doubtful Debts | 3000 | |
Interest | 1000 | |
Commission | 3750 | |
Tax and Insurance | 8000 | |
Bank Overdraft | 54500 | |
Car Expenses | 9000 | |
General Expenses | 8000 | |
Salaries | 33000 | |
Purchases and Sales | 54750 | 128500 |
Returns | 2000 | 1250 |
Trading and P & L Account
Balance Sheet
Explanation Video