Trading and Profit and loss Account

Prepare – Trading Account and profit and Loss Account of Yourself at the Year Ending 31st March 2020

  • Purchases 40000 Rs.
  • Sales Return 4000 Rs.
  • Wages 2000 Rs.
  • Productive Wages 1000 Rs.
  • Carriage Inward 800 Rs.
  • Stationary 600 Rs.
  • Advertisement 3000 Rs.
  • Rent 1600 Rs.
  • Salary 2400 Rs.
  • Insurance 4800 Rs.
  • Closing Stock 30000 Rs.
  • Sales 71200 Rs.
  • Opening Stock 24000 Rs.
  • Discount Allowed 500 Rs.
  • Commission Paid 800 Rs.
  • Interest Recieved 450 Rs.
  • Purchase Return 700 Rs.
  • Depreciation 1500 Rs.
  • Taxes Paid 500 Rs.
  • Bad Debts 920 Rs.
  • Bank Charges 480 Rs.
Dr.               Trading Account for the Year Ending 31st March, 2005                 Cr.
Particulars Amount in Rs. Particulars Amount in Rs.
To Opening Stock 24000 By Sales                71200
To Purchases                   40000
Less : Sales Return 4000
67200
Less : Purchase Return   700
39300 By Closing Stock 30000
To Wages 2000
To Productive Wages 1000
To Carriage / Carriage Inward 800
To Profit and Loss a/c 30100
    (Gross Profit Transferred to P&L a/c
97200 97200
Dr.       P & L Account for the Year Ending 31 March, 2005                                  Cr.
    
ParticularsAmount in Rs.ParticularsAmount in Rs.
    
To Stationary600By Trading Account  (Gross Profit)30100
To Advertising and Publicity3000By Interest Earned450
To Salary2400  
To Rent
1600  
To Insurance 4800  
To discount500  
To Commission800  
To Depreciation1500  
To Tax500  
To Bank Charges480  
To Bad Debts920  
To Capital A/c ( Net Profit Transferred to Capital Account13450  
    
 30550 30550
    

Explanation Video –

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