10. The following balances have been extracted from the books of M/s Green House for the year ended March 31, 2017, prepare trading and profit and loss account and balance sheet as on this date.
Account Title | Amount ₹ | Account Title | Amount ₹ |
---|---|---|---|
Purchases | 80,000 | Capital | 2,10,000 |
Bank balance | 11,000 | Bills payable | 6,500 |
Wages | 34,000 | Sales | 2,00,000 |
Debtors | 70,300 | Creditors | 50,000 |
Cash in hand | 1,200 | Return outwards | 4,000 |
Legal expenses | 4,000 | ||
Building | 60,000 | ||
Machinery | 120,000 | ||
Bills receivable | 7,000 | ||
Office expenses | 3,000 | ||
Opening stock | 45,000 | ||
Gas and fuel | 2,700 | ||
Freight and Carriage | 3,500 | ||
Factory lighting | 5,000 | ||
Office furniture | 5,000 | ||
Patent right | 18,800 | ||
Total | 4,70,500 | Total | 4,70,500 |
Adjustments:
(a) Machinery is depreciated at 10% and buildings depreciated at 6%.
(b) Interest on capital @ 4%.
(c) Outstanding wages ₹50.
(d) Closing stock ₹50,000.
NCERT/Rationalised 2023-24/Numerical Questions/Q-10