1. Following are the balances extracted from the books of Gurman on 31st March, 2024:
| ₹ | ₹ | ||
|---|---|---|---|
| Capital | 19,00,000 | Cash at Bank | 2,60,000 |
| Drawings | 70,000 | Salaries | 80,000 |
| Plant and Machinery | 12,00,000 | Repairs | 19,000 |
| Delivery Vehicle | 2,60,000 | Stock on 1st April, 2023 | 1,60,000 |
| Sundry Debtors | 3,60,000 | Rent | 45,000 |
| Sundry Creditors | 4,95,000 | Manufacturing Expenses | 15,000 |
| Purchases | 2,00,000 | Bad Debts | 50,000 |
| Sales | 4,20,000 | Carriage Inwards | 16,000 |
| Wages | 80,000 |
Prepare Trading and Profit & Loss Account and Balance Sheet as at 31st March, 2024 after following adjustments are made:
(i) Closing Stock was ₹1,60,000.
(ii) Depreciate Plant and Machinery @ 10% and Delivery Vehicle @ 15%.
(iii) Rent outstanding at the year end ₹5,000.
T.S.Grewal/2024 Edition/Practical Problems/Q-01
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.
Answer :