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Dear Student
 
Mr. Brown
Trading Account
for the year ended …Apr 12
Dr.   Cr.
Particulars Amount
(Rs)		 Particulars Amount
(Rs)
Opening Stock 7,834 Sales 61,025  
Purchases 33,437   Less: Return Inwards 683 60,342
Less: Return Outwards 0 33,437 Closing Stock 8,931
Carriage inward 952    
Wages 9,675    
Gross Profit (Balancing Figure) 17,375    
  69,273   69,273
       
               
 
Profit and Loss Account
for the year ended Apr, 2012
Dr.   Cr.
Particulars Amount
(Rs)		 Particulars Amount
(Rs)
    Gross Profit 17,375
To Rates and Taxes 700    
To Salary 3,862    
To General Expenses 1,766    
To Advertising w/o 3,572    
To Insurance 326    
To Provision for Doubtful Debt 893    
To Loss on sale of Furniture 50    
To Interest on loan 300    
To Depreciation      
     Furniture                       60             
     Machinery                     482         542    
       
Net Profit (Balancing Figure) 5,364    
  17,375   17,375
       
           
 
 
Balance Sheet
as on Apr 31, 2012
Liabilities Amount
(Rs)		 Assets Amount
(Rs)
Capital 30,000   Fixed Assets  
Less: Drawings 2,875      
Add: Net Profit 5,364 32,489 Furniture & Fittings 390
General Reserve 500 Machinery 4,338
Secured Loan 5,300 Land & Building 12,000
       
Current Liabilities   Current Assets  
Bank OD 918 Closing Stock 8,931
Creditors 10,733 Debtors 16,967
    Advertising 7144
    Prepaid Rates and taxes 70
    Cash in Hand 100
  49,940   49,940
       
 
Note : 1. Wages were paid on proprietors account means wages paid for Proprietor’s Personal uses .
Therefore wages paid by Proprietor is been Debited in his drawings account and corresponding Bank OD has ben increased .
2. It has been assumed that loan of 6% is not been accounted in question so the same has been incorporated .


Regards
 

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