Trading Account of [Link] for the year ended 31.03.
2022
Particulars Amount Amount Particulars Amount Amount
Opening Strock 74000 Sales 486000
Purchases 250000 Closing Stock 70000
Less: Purchase Returns 3000
Less:Trade Discount on Purchases 0 247000
To P&L A/c(Gross Profit) 181000
556000 556000
Dep On Machinery 4000 By Trading A/c(Gross Profit) 181000
Repairs on Machinery 5200 Discount on Purchases 7080
3200
Salaries 21000
Income Tax of Arun Kumarq 0
Dep on Building 5000
Repairs to Machinery 5200
Baddebts 2000
Rent for Office 2400
Commission
General Manager 12210.91
Works Manager 5760
120000 122109.1 2109.09090909091
65970.91
5760 188080 188080
Balance Sheet
Liabilities amount amount
Capital 100000
(-)Drawings 1000
(+)Net Profit 122109 221109
Loan(citi bank) 7600
Sundry Creditors 62520
Bills Payable 16000
Provision for Doubtful Debts 3200
64000 3200
310429
dr cr
6000 10000
4000
10000
Balance Sheet
Assets amount amount
Machinery 32000
Land & Buildings 144000
Bills Receivable 30000
Cash in Hand 4000
Debtors 61600
Closing Stock 70000
341600
339120
2480
Trading Account
Particulars Amount Amount Particulars Amount Amount
Opening Strock 50000 Sales 650000
Purchases 420000 Closing Stock 75000
To P&L A/c(Gross Profit) 255000
725000 725000
Profit & Loss Account
Salaries 40000 By Trading A/c(Gross Profit) 255000
Less:Propietors 10000 Dividend for Investmenst 8000 8000
Less:Advance Salary 0
Add:O/S salary 0 30000
Electricity Charges 2650
Add: O/S Electricity Charges 0 2650
Insurance 1200
Less:Prepaid 0 1200
Rent 10000
Less:Advance Rent 0 10000
Misc Expenses 14000
Depriciation:
Plant & Machinery 37500
Furniture 8000 45500
Telephone Charges 6000
Stationery 1200
Interest on Loan 8000
Add: O/s Interest 0 8000
146030 144450
1580 118550
263000 263000
Balance Sheet
Liabilities amount amount Assets
Capital 211970 Plant & Machinery
(-)Drawings 34000 Furniture & Fixtures
(+)Net Profit 144450 322420 Investments
Loan 90000 Cash in Hand
Sundry Creditors 264000 Accured dividend on Investments
Sundry Debtors
Cash at Bank
Closing Stock
676420
amount amount
212500
72000
80000
3000
end on Investments 0
170500
65000
75000
678000