From the following balances extracted from the books of Hari on 31st March, 2021, prepare his Trading and Profit and Loss Account and Balance Sheet: Particulars ₹ Particulars ₹ Opening Stock 96,000 Repairs to Plant Wages and Salaries 32,000 Cash in Hand and at Bank Commission on Purchases Freight Inwards 2,000 Debtors 3,000 Income Tax urchases less Returns 1,18,500 Drawings ales less Returns 2,49,000 Capital 200 Bills Payable ade Expenses Ils Receivable 6,000 Loan ent 2,000 Discount on Purchases ant 20,000 Creditors d Debts 5,000 Output CGST A/c 15,000 out CGST A/c Output SGST A/c 15.000 Output IGST A/c ut SGST A/C 1,600 2,000 40,000 5,500 6,500 50,000 5,000 9,000 4,000 23,300 10,000 10,000 15.000
From the following balances extracted from the books of Hari on 31st March, 2021, prepare his Trading and Profit and Loss Account and Balance Sheet: Particulars ₹ Particulars ₹ Opening Stock 96,000 Repairs to Plant Wages and Salaries 32,000 Cash in Hand and at Bank Commission on Purchases Freight Inwards 2,000 Debtors 3,000 Income Tax urchases less Returns 1,18,500 Drawings ales less Returns 2,49,000 Capital 200 Bills Payable ade Expenses Ils Receivable 6,000 Loan ent 2,000 Discount on Purchases ant 20,000 Creditors d Debts 5,000 Output CGST A/c 15,000 out CGST A/c Output SGST A/c 15.000 Output IGST A/c ut SGST A/C 1,600 2,000 40,000 5,500 6,500 50,000 5,000 9,000 4,000 23,300 10,000 10,000 15.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Financial accounting
Transcribed Image Text:Fullscreen
19.44
Double Entry Book Keeping-CBSE XI
Illustration 23.
Fin
From the following balances extracted from the books of Hari on 31st March, 2021,
prepare his Trading and Profit and Loss Account and Balance Sheet:
Particulars
₹
Particulars
Opening Stock
₹
96,000
Repairs to Plant
Wages and Salaries
1,600
32,000
Cash in Hand and at Bank
2,000
Commission on Purchases
Freight Inwards
2,000
Debtors
40,000
3,000
Income Tax
Purchases less Returns
5,500
1,18,500
6,500
Sales less Returns
Drawings
apital
2,49,000
50,000
Trade Expenses
200
Bills Payable
5,000
Bills Receivable
6,000
Loan
9,000
Rent
2,000
Discount on Purchases
4,000
Plant
20,000
Creditors
23,300
Bad Debts
5,000
Output CGST A/c
10,000
15,000
Output SGST A/c
10,000
Input CGST A/c
Input SGST A/c
15,000
Output IGST A/c
15,000
5,000
Input IGST A/c
Information: Stock at cost at the end was 37,500 against its Net Realisable Value
(Market Value) of
35,000.
OUNT OF
TRADING AND D
Solution:
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