36. From the following information prepare financial Statements of M/s Raj & Bros, for the year ending March 31, 2020.
| Dr. Bal. (Rs.) |
Cr. Bal. (Rs.) |
||
|---|---|---|---|
| Stock (1-4-2019) Sales Returns Purchases Freight-in Rent and Taxes Salaries Trade debtors Bank interest Printing and Advertising |
16,800 8,000 2,43,000 8,600 5,700 9,300 24,000 1,000 14,600 |
Capital Sales Returns Outward Trade Creditors 10% Bank Loan (1-7-2019) Income from Investment Discount Received |
78,000 3,09,000 5,700 4,800 24,000 3,600 2,250 |
| Cash at bank Discount Allowed Investment Furniture General Expenses Audit Fees Insurance Travelling Expenses Plant & Machinery Drawings |
18,300 1,340 25,000 3,800 3,610 500 800 3,000 30,000 10,000 |
||
| 4,27,350 | 4,27,350 |
Additional Information:
- Depreciation on Plant and Machinery @ 10% p.a., a Machine has been purchased on July 01, 2019 for Rs. 12,000.
- The manager is entitled to a commission of 10% of the net profit before charging such commission.
- Closing stock in trade is valued at Rs. 6,000 (cost); Rs. 6,200 (Market Price).
- Rent outstanding Rs. 5,000.
D.K.Goel/2024 Edition/Practical Questions/Q-36
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :