35. From the following Trial Balance extracted from the books of Mr. Karuna Sagar, prepare a Trading and Profit & Loss A/c for the year ended 31st March, 2023 and a Balance Sheet as at that date:
| Debit Balances | Rs. | Credit Balances | Rs. |
|---|---|---|---|
| Purchases Rent Paid Wages Salaries Power Stock on 1-4-2022 Stock on 31-3-2023 Charity Debtors Furniture Motor Car Motor Car Expenses Insurance Unexpired Insurance Drawings Cash Balance |
3,30,000 7,480 33,000 30,800 5,400 15,000 36,000 500 53,000 8,000 2,00,000 18,000 3,600 600 5,000 34,680 |
Sales Returns Trade Creditors Discount Capital Miscellaneous Income |
5,30,000 8,000 37,000 3,000 2,00,000 3,060 |
| 7,81,060 | 7,81,060 |
Informations:
- Goods costing Rs. 2,000 were taken away by the proprietor for his personal use and goods costing Rs. 1,500 were given away as charity.
- Expenses for wages, rent and salaries are uniform throughout the year and those for March have not been paid.
- Provide 10% depreciation on Furniture and 20% on Motor Car.
- Provide for Manager’s Commission at 10% on Net Profit after charging such Commission.
D.K.Goel/2024 Edition/Practical Questions/Q-35
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :