14. From the following balances of M/s Nilu Sarees as on March 31, 2017. Prepare trading and profit and loss account and balance sheet as on date.
| Account Title | Debit Amount (₹) | Account Title | Credit Amount (₹) |
|---|---|---|---|
| Opening stock | 10,000 | Sales | 2,28,000 |
| Purchases | 78,000 | Capital | 70,000 |
| Carriage inwards | 2,500 | Interest | 7,000 |
| Salaries | 30,000 | Commission | 8,000 |
| Commission | 10,000 | Creditors | 28,000 |
| Wages | 11,000 | Bills payable | 2,370 |
| Rent & taxes | 2,800 | ||
| Repairs | 5,000 | ||
| Telephone expenses | 1,400 | ||
| Legal charges | 1,500 | ||
| Sundry expenses | 2,500 | ||
| cash in hand | 12,000 | ||
| Debtors | 30,000 | ||
| Machinery | 60,000 | ||
| Investments | 90,000 | ||
| Drawings | 18,000 |
Closing stock as on March 31, 2017 ₹22,000.
NCERT/Rationalised 2023-24/Numerical Questions/Q-14