Question 24 Prepare Trading and Profit & Loss Account and the balance sheet from the following balances, relating to the year ended 31 March 2011. Sl. No. Particulars Amount (Rs.) Where this will appear >>>> Trading P&L B.S. Explain - Logic / Why? Dr. Cr. Dr. Cr. Asset Liability 1 Capital 10,000 10,000 2 Creditors 1,200 3 Return Outwards 500 4 Sales 16,400 5 Bills Payable 500 6 Plant and Machinery 4,000 7 Sundry Debtors 2,400 8 Drawings 1,000 9 Purchases 10,500 10 Return Inwards 300 11 Wages 5,000 12 Bank 1,000 13 Repairs 50 14 Stock - 1st April 2010 2,000 15 Rent 400 16 Manufacturing Expenses 800 17 Trade Expenses 700 18 Bad Debts 200 19 Carriage 150 20 Fuel and Power 100 21 Closing Stock - 31 March 2011 1,450 22 Depreciation - Plant & Machinery 400 23 Bad Debts Written off 500 24 Due for Repairs 40
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