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Trading and Profit & Loss Account

Prepare Final Accounts from the Book of Shri Ramesh on 31st March, 2005 –

  1. Trading and P & L Account
  2. Balance Sheet
  • Opening Stock 60000 Rs.
  • Sales 161000 Rs.
  • Creditors 38590 Rs.
  • Loan Taken 15000 Rs.
  • Returns Outward 5000Rs.
  • Machinery 11000 Rs.
  • Rent Paid 3000 Rs.
  • Commission Received 3710 Rs.
  • Bad Debts 400 Rs.
  • Bank Balance 4500 Rs.
  • Cash Balance 510 Rs.
  • Establishment Expenses 8000 Rs.
  • Electricity Bill 490 Rs.
  • Purchases 115000 Rs.
  • Capital 26000 Rs.
  • Returns Inward 6000 Rs.
  • Bills Receivable 2000 Rs.
  • Debtors 25000 Rs.
  • Building 9900 Rs.
  • Interest Paid on Loan 1000 Rs.
  • Provision for Doubtful Debts 2000 Rs.
  • Furniture 5000 Rs.
  • Provident Fund Deducted from Salary Credit 500  Rs.
  • Closing Stock 50000 Rs.
trading and p and l account
how to prepare balance sheet

Explanation Video –

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