2. Prepare a trading and profit and loss account of M/s Green Club Ltd. for the year ending March 31, 2017. from the following figures taken from his trial balance:
| Account Title | Amount ₹ | Account Title | Amount ₹ |
|---|---|---|---|
| Opening stock | 35,000 | Sales | 2,50,000 |
| Purchases | 1,25,000 | Purchase return | 6,000 |
| Return inwards | 25,000 | Creditors | 10,000 |
| Postage and Telegram | 600 | Bills payable | 20,000 |
| Salary | 12,300 | Discount | 1,000 |
| Wages | 3,000 | Provision for bad debts | 4,500 |
| Rent and Rates | 1,000 | Interest received | 5,400 |
| Packing and Transport | 500 | Capital | 75,000 |
| General expense | 400 | ||
| Insurance | 4,000 | ||
| Debtors | 50,000 | ||
| Cash in hand | 20,000 | ||
| Cash at bank | 40,000 | ||
| Machinery | 20,000 | ||
| Lighting and Heating | 5,000 | ||
| Discount | 3,500 | ||
| Bad debts | 3,500 | ||
| Investment | 23,100 | ||
| Total | 3,71,900 | Total | 3,71,900 |
- Depreciation charged on machinery @ 5% p.a.
- Further bad debts ₹1,500, discount on debtors @ 5% and make a provision on debtors @ 6%.
- Wages prepaid ₹1,000.
- Interest on investment @ 5% p.a.
- Closing stock 10,000.
NCERT/Rationalised 2023-24/Numerical Questions/Q-02