solution Financial (With
You are to Trnding nnd & and
March, considering the following
O) Closing Stock was valued at 96,000,
(ii) Salaries outstanding aro 7.000.
(iii) Prepaid insurance
(iv) Stationery bill outstanding 1.200.
Expenses Due and Income Accrued
2. Sri Jai Prakash has supplied to you the following trial balance as on 31st Marc
Cash in H
Interest on Loan
Packing Expenses on Purchases
Production Tax —
(i) Closing Stock was valued ate 11,000.
(ii) Wages not yet paid amounted 500.
(iii) Commission earned but not received is 800.
You are required to prepare Trading and profit & LOSS Account and Balance Sheet on
Expenses Prepaid and Income Received in Advance
3. The following trial balance is extracted from the books Of Amritsar Steel Store for
the ear endin 31st March 2011.
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