Prepare trading,profit and loss account and balance sheet from the following trial balance.Cash -9700 (debit)Capital-20167 (credit)Bank-5000(debit)Purchases-8000(debit)Discount-100(credit)Machinery-1900(debit)Bracewel's account-2000(debit)salaries-700(debit)sales-3000(credit)rent-300(credit)depreciation-100(debit)srikanth's account-4000(credit)interest on capital-167(debit)

Trading Account 

for the year ended …

Dr.

 

Cr.

Particulars 

Amount

(Rs)

Particulars

Amount

(Rs)

Purchases A/c

8,000

Sales A/c

3,000

 

 

Gross Loss (b.f.)

5,000

 

8,000

 

8,000

 

 

 

 

      

 



Profit and Loss Account 

for the year ended…

Dr.

 

Cr.

Particulars 

Amount

(Rs)

Particulars

Amount

(Rs)

Gross Loss

5,000

Discount A/c

100

Salaries A/c

700

Rent A/c

300

Depreciation A/c

100

Net Loss(b.f.)

5,567

Interest on Capital A/c

167

 

 

 

5,967

 

5,967

 

 

 

 

      

 

 

Balance Sheet 

as at…

Liabilities 

Amount

(Rs)

Assets 

Amount

(Rs)

Capital

20,167

 

Fixed Assets

 

Less: Net Loss

5,567

14,600

Machinery

1,900

Current Liabilities

 

Current Assets

 

Srikanth

4,000

Bracewel

2,000

 

 

Cash bank

5,000

 

 

Cash in Hand

9,700

 

18,600

 

18,600

 

 

 

 

  • -1
What are you looking for?