05. Prepare Trading, Profit and Loss Account and Balance from the following Trial Balance of Gopala Krishna Debit Balances Rs. Credit Balances Rs. 61,604 35,000 3,903 Purchases 25,200 Sales Capital Creditors Furniture 1,600 3,500 Wages Machinery 222 20,000 Purchase Returns 17,525 1,200 10,400 200 Opening Stock Sales returns Debtors Freight on Purchases Salaries 10,600 503 Freight on sales Rent & Taxes Cash at bank 2,001 8,000 1,00,729 .00.729
05. Prepare Trading, Profit and Loss Account and Balance from the following Trial Balance of Gopala Krishna Debit Balances Rs. Credit Balances Rs. 61,604 35,000 3,903 Purchases 25,200 Sales Capital Creditors Furniture 1,600 3,500 Wages Machinery 222 20,000 Purchase Returns 17,525 1,200 10,400 200 Opening Stock Sales returns Debtors Freight on Purchases Salaries 10,600 503 Freight on sales Rent & Taxes Cash at bank 2,001 8,000 1,00,729 .00.729
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:05. Prepare Trading, Profit and Loss Account and Balance Sheet as on 31-3-1998
from the following Trial Balance of Gopala Krishna
Debit Balances
Rs.
Credit Balances
Rs.
Purchases
25,200
1,600
3,500
20,000
Sales
61,604
Furniture
Capital
35,000
Wages
Machinery
Opening Stock
Sales returns
3,903
222
Creditors
Purchase Returns
17,525
1,200
10,400
Debtors
Freight on Purchases
200
Salaries
10,600
503
Freight on sales
Rent & Taxes
2,001
8,000
Cash at bank
1,00,729
1,00,729
Transcribed Image Text:Make the following Adjustments
(1) Closing stock Rs. 16,800
(2) Outstanding salaries Rs. 400
(3) Prepaid Rent and Taxes Rs. 201
(4) Provide for Bad Debts Reserve at 5 per cent
(5) Provide for depreciation on Machinery at 10%
(6) Calculate interest on capital at 5 per cent.
O O 1
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