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