26. Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial Balance and information as on 31st March, 2023:
| Name of Account | Dr. (Rs.) | Cr. (Rs.) |
|---|---|---|
| Drawings and Capital Plant and Machinery Motor Vehicle Return Inward and Outward Stock on 1st April, 2022 Purchases and Sales Carriage Inward Trade Expenses Bad Debts Provision for Doubtful Debts Commission Rent, Rates & Taxes Salaries and Wages Debtors and Creditors Fuel and Water Cash in Hand Cash at Bank |
15,000 2,00,000 1,50,000 25,000 82,000 4,40,000 6,000 2,500 4,250 12,000 24,000 70,000 4,750 16,500 50,000 |
3,25,000 37,000 6,75,000 6,000 4,000 55,000 |
| 11,02,000 | 11,02,000 |
Adjustments:
- Closing Stock was valued at Rs. 1,12,500.
- Commission include Rs. 1,200 being commission received in advance.
- Salaries and wages is outstanding for the month of Feb. & March, 2023.
- Depreciate Plant & Machinery by 15% and Motor Vehicle by 20%.
- Write off Rs. 500 as further Bad Debts and maintain provision for doubtful debts at 1% on debtors.
D.K.Goel/2024 Edition/Practical Questions/Q-26
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :