3. Following Trial Balance has been extracted from the books of Pawan as on 31st March. 2024.
| Particulars | Dr. (₹) | Particulars | Cr. (₹) |
|---|---|---|---|
| Machinery | 4,00,000 | Capital | 9,00,000 |
| Cash at Bank | 1,00,000 | Sales | 16,00,000 |
| Cash in Hand | 50,000 | Sundry Creditors | 4,50,000 |
| Wages | 1,00,000 | Interest Received | 30,000 |
| Purchases | 8,00,000 | ||
| Stock on 1st April, 2023 | 6,00,000 | ||
| Sundry Debtors | 7,30,000 | ||
| Rent | 45,000 | ||
| Commission | 25,000 | ||
| General Expenses | 80,000 | ||
| Salaries | 50,000 | ||
| Total | 29,80,000 | Total | 29,80,000 |
Additional Information:
(i) Outstanding salaries were ₹45,000.
(ii) Depreciate Machinery at 10%.
(iii) Wages outstanding were ₹5,000.
(iv) Rent prepaid ₹10,000.
(v) Provide for interest on capital @ 5% per annum.
(vi) Stock on 31st March, 2024 ₹8,00,000.
Prepare Trading and Profit & Loss Account for the year ended 31st: March, 2024 and
Balance Sheet as at that date.
T.S.Grewal/2024 Edition/Practical Problems/Q-03
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 :