What will be the trading and profit and loss account and balance sheet for the following trial balance - Accountancy -

Question

What will be the trading and profit and loss account and balance
sheet for the following trial balance

Shruti Mishra · Accepted Answer

Dear Student,
TRADING ACCOUNT

Particulars
Amount
Particulars
Amount

Purchases
58,000
Sales
170,500

Gross Profit
112,500

170,500

PROFIT & LOSS A/c

Particulars
Amount
Particulars
Amount

Expenses
21,250
Gross Profit
112,500

Electricity Security Bill
5,000
Net Loss

Telephone security charges
3,000

Salaries A/c
10,750

Rent a/c
31,000

Net Profit
41500

112,500

BALANCE SHEET

LIABILITIES
Amount
ASSETS
Amount

Capital 1,00,000
Less : Drawings (20,750)
Add : Net Profit 41,500

120,750
Furniture
25,000

Bank Overdraft
67,250
Bantabhat Co A/c
25,000

Suspense Account
77500
Kapoor & Sons Co A/c
5,500

Fashion & Co A/c
10,000

Cash in hands
2,00,000

265,500

Regards

LIABILITIES	Amount	ASSETS	Amount
Capital 1,00,000 Less : Drawings (20,750) Add : Net Profit 41,500	120,750	Furniture	25,000
Bank Overdraft	67,250	Bantabhat Co. A/c	25,000
Suspense Account	77500	Kapoor & Sons Co. A/c	5,500
		Fashion & Co. A/c	10,000
		Cash in hands	2,00,000

	265,500		265,500