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Particulars Amt: Trading, Profit and Loss A/C

The document summarizes the trading and profit/loss account and balance sheet for a business. It shows revenues from sales and other income, expenses including purchases, salaries, taxes, and depreciation, resulting in a net profit. Assets include stock, debtors, cash and property. Liabilities include capital, creditors and bank overdraft. The balance sheet balances total assets with total liabilities and equity.

Uploaded by

Kave Mathi
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© © All Rights Reserved
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
53 views

Particulars Amt: Trading, Profit and Loss A/C

The document summarizes the trading and profit/loss account and balance sheet for a business. It shows revenues from sales and other income, expenses including purchases, salaries, taxes, and depreciation, resulting in a net profit. Assets include stock, debtors, cash and property. Liabilities include capital, creditors and bank overdraft. The balance sheet balances total assets with total liabilities and equity.

Uploaded by

Kave Mathi
Copyright
© © All Rights Reserved
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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TRADING , PROFIT AND LOSS A/C

Particulars Amt
To opening stock 3460
To purchases 5475
To sales return 200

To gross profit 9690


18825

To bad debts 125


Add: further bad debts 100
Add: provision for beddebts 10% on debtors 370 595
To advertising 450
To interest on bank over draft 118
Add: interest due on bank over draft 85 203
To taxes and insurance
1250
outstanding taxes 120
prepaid 10 1270
To general expenses 782
To salaries 3300
outstanding salaries + 300 3600
To depreciation on buliding@5%
5% on 7500 375
To depreciation fitings&furniture @10%
10% on 640 64
To depreciation onmotor vehicles @20%
20% on 6250 1250

To net profit 1551

10140
AND LOSS A/C

Particulars Amt
By sales 15450
By purchase return 125
By closing stock 3250

18825

By gross profit 9690


debtors 3800
By old provision for bad debts 200 less:ABD 100
By commission 375 3700
less: recevied in adv 125 250 less: PBD 370
3330

10140
BALANCE SHEET
Liabilities Amt Amt Assets Amt Amt
Capital 12500 Furniture&fitings 640
Add: netprofit 1551 14051 Less depreciation 64 576
Creditors 2500 Motor vehicles 6250
Bank overdraft 2850 Less: depriciation 1250 5000
Outstanding expenses Buildings 7500
Salaries 300 Less: depriciation 375 7125
Taxes 120 Sundry debtors 3800
Commission receuived in adv 125 Less: ABD 100
Interest due on bank OD 85 Less: PBD 370 3330
Insurance prepaid 100
Cash 650
Closing stock 3250

20031 20031
BALANCE SHEET
Liabilities Amt Amt Assets Amt Amt
Capital 228800 Plant&mechinary 99000
Add; net profit 40852 Less: depreciation -38500
Less: drawings 13200 256452 Add: new mechinary 15400
Billspayable 5500 Add: installiazation 1100 77000
Sundry creditors 44000 Free house hold property 66000
Add: new creditors 15400 59400 Less: depreciation -3300 62700
Managers commission 4085 Furniture 5500
Less: depreciation -550 4950
Loose tools 2200
Less: depreciation -440 1760
Loan to sri krishna 44000
Outstanding interest on loan 3300
Debtors 29260
Less:ABD -600
Less:PBD @ 5% on 28660 -1433 27227
Cash in hand 2640
Cash at bank 29260
Closing stock 72600

325437 325437

Submitted by
Kavepriya - 20BSP1055
Mahesh- 20BSP0505
a - 20BSP1055
20BSP0505

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