Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 32 views

    Profit and Loss Account For The Year Ended 31.03.2005: Expenditure Amt (RS.) Income Amt (RS.)

    Uploaded by

    Nayan Nagda
    The document provides financial information for Chandrika Prasad for the year ending March 31, 2005. It includes trading, profit and loss, and balance sheet accounts. The trading account shows income from sales of Rs. 2,16,800 and purchases of Rs. 76,000. The profit and loss account lists expenses such as salaries, rent, depreciation, and interest income to calculate a net profit of Rs. 49,975. The balance sheet lists assets such as cash, debtors, stock and property and liabilities including capital, loans, and creditors to equal Rs. 3,35,875.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Profit and Loss Account For The Year Ended 31.03.2005: Expenditure Amt (RS.) Income Amt (RS.)

    Uploaded by

    Nayan Nagda
    32 views2 pages
    The document provides financial information for Chandrika Prasad for the year ending March 31, 2005. It includes trading, profit and loss, and balance sheet accounts. The trading account shows income from sales of Rs. 2,16,800 and purchases of Rs. 76,000. The profit and loss account lists expenses such as salaries, rent, depreciation, and interest income to calculate a net profit of Rs. 49,975. The balance sheet lists assets such as cash, debtors, stock and property and liabilities including capital, loans, and creditors to equal Rs. 3,35,875.

    Original Title

    ques 2.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document provides financial information for Chandrika Prasad for the year ending March 31, 2005. It includes trading, profit and loss, and balance sheet accounts. The trading account shows income from sales of Rs. 2,16,800 and purchases of Rs. 76,000. The profit and loss account lists expenses such as salaries, rent, depreciation, and interest income to calculate a net profit of Rs. 49,975. The balance sheet lists assets such as cash, debtors, stock and property and liabilities including capital, loans, and creditors to equal Rs. 3,35,875.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    32 views2 pages

    Profit and Loss Account For The Year Ended 31.03.2005: Expenditure Amt (RS.) Income Amt (RS.)

    Uploaded by

    Nayan Nagda
    The document provides financial information for Chandrika Prasad for the year ending March 31, 2005. It includes trading, profit and loss, and balance sheet accounts. The trading account shows income from sales of Rs. 2,16,800 and purchases of Rs. 76,000. The profit and loss account lists expenses such as salaries, rent, depreciation, and interest income to calculate a net profit of Rs. 49,975. The balance sheet lists assets such as cash, debtors, stock and property and liabilities including capital, loans, and creditors to equal Rs. 3,35,875.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    M/s Chandrika prasad

    Trading Account for the year ended 31.03.2005

    Expenditure Amt (Rs.) Income Amt (Rs.)


    To opening stock 45,000 By sales 2,20,000
    Less: returns inward 3,200 2,16,800
    To Purchases 80,000 By closing stock 50,000
    Less: returns 4,000 76,000
    To Wages 34,000
    Add: O/S wages 2,400 36,400
    To Freight & Carriage 3,500
    To gas & fuel 2,700
    To Factory lighting 5,000
    Gross profit 98,200
    2,66,800 2,66,800

    Profit and Loss Account for the year ended 31.03.2005


    To Salaries 13,000 Gross profit 98,200
    Add: O/s salaries 600 13,600
    To Legal expenses 4,000 By Interest on govt. securities 1,000
    Less: drawings 1,000 3,000
    To Office Expenses 3,000
    To Discount A/c 4,500
    To office Rent 2,400
    Add: O/s rent 400 2,800
    To bad debts 1,700
    Add: new bad debts 300 2,000
    To provision to sundry debtors 3,500
    To insurance 1,500
    Less: prepaid 450 1,050
    To Deprecation
    On freehold property 1,200
    On plant and machinery 12,000
    On F/F 250
    On loose tools 1,125 14,575
    To patent (written-off) 1,200

    Net Profit 49,975


    TOTAL 2,67,800 TOTAL 2,67,800
    M/s Chandrika prasad

    Balance sheet for the year ended as on 31.03.2005

    Liabilities Amt (Rs.) Assets Amt (Rs.)


    A. Capital 2,10,000 A. fixed assets
    Less: drawings 13,000
    Less: drawings (legal) 1,000 1,96,000
    B. Long term Liabilities Freehold property 60,000
    Less: deprecation 1,200 58,800
    Creditors for loan 30,000 Plant & Machinery 1,20,000
    Less deprecation 12,000 1,08,000
    Loose tools 4,500
    Less deprecation 1125 3,375
    Office furniture and fittings 5,000
    Less deprecation 250 4,750
    C. Current Liabilities B. Current assets
    Sundry Creditors 50,000 Cash in hand 1,200
    O/s Expenses
    Wages 2,400
    Salaries 600
    Office rent 400
    Bills payable 6,500 59,900
    D. Miscellaneous Liabilities Cash at bank 11,000
    Sundry Debtors 70,300
    Less: new bad debts 300
    Less: 5% provision 3,500 66,500
    E. Net Profit of the Year/Retained 49,975 Prepaid Insurance 450
    earnings
    Bills receivable 7,000
    By closing stock 50,000
    C. Miscellaneous Assets
    Investment in Govt. securities 20,000

    3,35,875 D. Intangible Assets:


    7 Patents rights 6,000
    Less: patent (written-off) 1,200

    3,35,875

    You might also like