2. From the following Trial Balance prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
| Dr. (Rs.) | Cr. (Rs.) | |
|---|---|---|
| Stock 1st April, 2022 Purchases and Purchase Return Freehold Premises Incidental Trade Exp. |
22,300 2,30,000 1,00,000 11,200 |
5,200 |
| Dr. (Rs.) | Cr. (Rs.) | |
| Insurance Audit Fees Commission Received Interest Debtors and Creditors Wages Salaries Capital Drawings Income-Tax Investments Discount allowed & received Sales Return & Sales B/R Office Furniture Rent Cash in Hand Bank Balance |
1,850 800 32,400 30,200 15,200 12,000 3,600 8,000 7,500 6,400 5,200 9,000 5,080 7,600 |
2,700 1,400 24,830 1,50,000 4,200 3,17,400 2,600 |
| 5,08,330 | 5,08,330 |
Adjustments:
- Stock at 31st March 2023 is Rs. 70,000.
- Write of 5% Depreciation on Freehold Premises and 20% on office furniture.
- Commission earned but not received Rs. 500.
- Interest earned Rs. 600.
- Rs. 200 for rent have been received in advance.
- Charge interest on Capital @ 6% and Rs. 500 on Drawings
D.K.Goel/2024 Edition/Practical Questions/Q-02
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :