31. Prepare a trading and profit & loss account of M/s Green Club Ltd. for the year and a Balance Sheet as at that date from the following figures taken from their trial balance:
| 3,71,900 | 3,71,900 | ||
|---|---|---|---|
| Opening Stock Purchases Return inward Postage Salary Wages Rent and rates Packing and transport General expenses Insurance Debtors Cash in hand Closing Stock Machinery Lighting Discount |
1,25,000 35,000 25,000 600 12,300 3,000 1,000 500 400 4,000 50,000 20,000 40,000 20,000 5,000 3,500 |
Sales Purchase Return Creditors Capital Discount received Provision for bad debts Commission received |
2,50,000 6,000 55,000 50,000 1,000 4,500 5,400 |
| 3,71,900 | 3,71,900 |
Adjustments:
- Depreciation charged on Machinery @ 5% p.a.
- Further Bad-debts Rs. 1,500, provision for discount on debtors @ 5% and provision for Doubtful Debts on debtors @ 6%.
- Wages prepaid Rs. 1,000.
- Interest on investments @ 5% р.а.
D.K.Goel/2024 Edition/Practical Questions/Q-31
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :