9. From the following balances of M/s Jyoti Exports, prepare trading and profit and loss account for the year ended March 31, 2017 and balance sheet as on this date.

Account Title Debit
Amount ₹
Account Title Credit
Amount ₹
Sundry debtors 9,600 Sundry creditors 2,500
Opening stock 22,800 Sales 72,670
Purchases 34,800 Purchases returns 2,430
Carriage inwards 450 Bills payable 15,600
Wages 1,770 Capital 42,000
Office rent 820 Credit 2,500
Insurance 1,440
Factory rent 390
Cleaning charges 940
Salary 1,590
Building 24,000
Plant and Machinery 3,600
Cash in hand 2,160
Gas and Water 240
Octroi 60
Furniture 20,540
Patents 10,000
Total 1,35,200 Total 1,35,200

Closing stock ₹10,000.

  1. To provision for doubtful debts is to be maintained at 5 per cent on sundry debtors.
  2. Wages amounting to ₹500 and salary amounting to ₹350 are outstanding.
  3. Factory rent prepaid ₹100.
  4. Depreciation charged on Plant and Machinery @ 5% and Building @ 10%.
  5. Outstanding insurance ₹100.

NCERT/Rationalised 2023-24/Numerical Questions/Q-09

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