Account - from the following trial balance of Ram and sons prepare trading account and profit and loss and balance sheet.

Dear Student,
Hereunder is answer given,
Trading Account 
Dr.             Cr.
Particulars   Amount
Rs
Particulars   Amount
Rs
Opening Stock   20000 Sales 250000  
Purchases 75000     Less : Sales Return Inwards (8000) 242000
  Less : Return Outwards (3000) 72000 Closing Stock   25000
Carriage 
wages
7500
36500
       
Profit and Loss (Gross Profit)   131000        
           
      267000       267000
               
                       
 
Profit and Loss Account
Dr.     Cr.
Particulars Amount
Rs
Particulars Amount
Rs
Rent & Taxes 24000 Trading (Gross Profit) 131000
Trade Expenses 4000 Int. on BD 2000
Repairs 1200 Commission Received 3300
salary 12000    
       
       
Net Profit 95100    
  136300   136300
       
 
Balance Sheet
Liabilities Amount
Rs
Assets Amount
Rs
Capital 170000   Plant and Machinery   160000
  Less Drawings
Add Net Profit
(16600)
95100
248500 Bill receivable   14000
        Debtors   55000
Creditors   15000 Closing Stock   25000
Bank Overdraft   10,000 Bank deposit     20000
Bills Payable     6200 Cash in Hand     5700
      279,700       279,700
               




​​​​​​Regards,

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