Q.From the following balance extracted from the books of M/s R.k. Gupta ,prepare a Trading , profit & Loss A/c, for the year ending 31.12.2014ParticularAMOUNTParticularAMOUN(€)T(7)Opening StockSalaries1,25011,800750Discount (Dr.)WagesReturn inwardsSales328DepreciationCommission (Cr.)6671,5891,6598, 679211Insurance380PurchasesCarriage inwardFurniture charges300Bad debts180670Printing ChargesCarriage outward481200Return outward1,380

Trading, Profit and Loss account is prepared to calculate the net profit earned or net loss incurred…

Q.From the following balance extracted from the books of M/s R.k. Gupta, prepare a Trading , profit & Loss A/c, for the year ending 31.12.2014 Particular AMOUNT Particular AMOUN (7) T (7) Opening Stock Sales Salaries Discount (Dr.) Wages Return inwards 1,250 11,800 750 328 Depreciation Commission (Cr.) 1,589 1,659 8, 679 667 211 Insurance 380 Purchases Carriage inward Furniture charges 300 Bad debts 180 670 Printing Charges Carriage outward Return outward 481 200 1,380

Q.From the following balance extracted from the books of M/s R.k. Gupta, prepare a Trading , profit & Loss A/c, for the year ending 31.12.2014 Particular AMOUNT Particular AMOUN (7) T (7) Opening Stock Sales Salaries Discount (Dr.) Wages Return inwards 1,250 11,800 750 328 Depreciation Commission (Cr.) 1,589 1,659 8, 679 667 211 Insurance 380 Purchases Carriage inward Furniture charges 300 Bad debts 180 670 Printing Charges Carriage outward Return outward 481 200 1,380

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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