8) From the following ledger balances of Psat traders, prepare a Trading, P&L a/c and Balance sheet for the year ended 31-12-2020. Debit Purchases Returns Carriage Rent & Rates Opening Stock Debtors Salaries Wages Plant & Machinery Furniture Cash at Bank Amount (R.) 1,05,000 2000 1,000 2,800 19000 60000 25000 11200 70,000 Credit Capital Sales Creditors Returns Interest Discount Received 30,000 40,000 3,66,000 Adjustments: Closing stock 2. 25,000, Outstanding rent 2.600. Amount 70000 2,55,000 35000 1800 1000 3200 3,66,000
8) From the following ledger balances of Psat traders, prepare a Trading, P&L a/c and Balance sheet for the year ended 31-12-2020. Debit Purchases Returns Carriage Rent & Rates Opening Stock Debtors Salaries Wages Plant & Machinery Furniture Cash at Bank Amount (R.) 1,05,000 2000 1,000 2,800 19000 60000 25000 11200 70,000 Credit Capital Sales Creditors Returns Interest Discount Received 30,000 40,000 3,66,000 Adjustments: Closing stock 2. 25,000, Outstanding rent 2.600. Amount 70000 2,55,000 35000 1800 1000 3200 3,66,000
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.1.2MBA
Related questions
Question
![8) From the following ledger balances of Psat traders, prepare a Trading, P&L a/c and Balance sheet for
the year ended 31-12-2020.
Debit
Purchases
Returns
Carriage
Rent & Rates
Opening
Stock
Debtors
Salaries
Wages
Plant &
Machinery
Furniture
Cash at Bank
Amount
1,05,000
2000
1,000
2,800
19000
60000
25000
11200
70,000
Credit
Capital
Sales
Creditors
Returns
Interest
Discount
Received
30,000
40,000
3,66,000
Adjustments: Closing stock 2. 25,000, Outstanding rent 2.600.
Amount
70000
2,55,000
35000
1800
1000
3200
3,66,000
I](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7e425111-53d2-4bdd-a1a8-b17488d0204c%2F0f391821-a891-4fe1-831d-81a93503a685%2Fie0tym6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:8) From the following ledger balances of Psat traders, prepare a Trading, P&L a/c and Balance sheet for
the year ended 31-12-2020.
Debit
Purchases
Returns
Carriage
Rent & Rates
Opening
Stock
Debtors
Salaries
Wages
Plant &
Machinery
Furniture
Cash at Bank
Amount
1,05,000
2000
1,000
2,800
19000
60000
25000
11200
70,000
Credit
Capital
Sales
Creditors
Returns
Interest
Discount
Received
30,000
40,000
3,66,000
Adjustments: Closing stock 2. 25,000, Outstanding rent 2.600.
Amount
70000
2,55,000
35000
1800
1000
3200
3,66,000
I
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