15. Prepare trading and profit and loss account of M/s Sports Equipments for the year ended March 31, 2017 and balance sheet as on that date:
| Account Title | Debit Amount (₹) |
Credit Amount (₹) |
|---|---|---|
| Opening stock | 50,000 | |
| Purchases and sales | 3,50,000 | 4,21,000 |
| Sales returns | 5,000 | |
| Capital | 3,00,000 | |
| Commission | 4,000 | |
| Creditors | 1,00,000 | |
| Bank overdraft | 28,000 | |
| Cash in hand | 32,000 | |
| Furniture | 1,28,000 | |
| Debtors | 1,40,000 | |
| Plants | 60,000 | |
| Carriage on purchases | 12,000 | |
| Wages | 8,000 | |
| Rent | 15,000 | |
| Bad debts | 7,000 | |
| Drawings | 24,000 | |
| Stationery | 6,000 | |
| Travelling expenses | 2,000 | |
| Insurance | 7,000 | |
| Discount | 5,000 | |
| Office Expenses | 2,000 |
Closing stock as on March 31, 2017 ₹2,500
NCERT/Rationalised 2023-24/Numerical Questions/Q-15