12. Prepare trading and profit and loss account and balance sheet of M/s Royal Traders from the following balances as on March 31, 2017.
| Account Title | Debit Amount (₹) | Account Title | Credit Amount (₹) |
|---|---|---|---|
| Stock | 20,000 | Sales | 2,45,000 |
| Cash | 5,000 | Creditors | 10,000 |
| Bank | 10,000 | Bills payable | 4,000 |
| Carriage on purchases | 1,500 | Capital | 2,00,000 |
| Purchases | 1,90,000 | ||
| Drawings | 9,000 | ||
| Wages | 55,000 | ||
| Machinery | 1,00,000 | ||
| Debtors | 27,000 | ||
| Postage | 300 | ||
| Sundry expenses | 1,700 | ||
| Rent | 4,500 | ||
| Furniture | 35,000 |
Closing stock ₹8,000
NCERT/Rationalised 2023-24/Numerical Questions/Q-12