23. From the following Trial Balance, prepare Trading and Profit & Loss Account for the Year ended 31st March, 2024 and Balance Sheet as at that date:
| Heads of Accounts | LF. | Dr. Balance (₹) |
Cr. Balance (₹) |
|---|---|---|---|
| Capital | 5,00,000 | ||
| Plant and Machinery | 1,00,000 | ||
| Land and Building | 1,20,000 | ||
| Sales | 9,00,000 | ||
| Furniture and Fixtures | 50,000 | ||
| Trade Expenses | 30,000 | ||
| Cash at Bank | 2,50,000 | ||
| Wages and Salaries | 60,000 | ||
| Repairs | 10,000 | ||
| Purchases | 6,00,000 | ||
| Opening Stock | 2,00,000 | ||
| Sundry Debtors | 1,40,000 | ||
| Sundry Creditors | 1,50,000 | ||
| Purchases Return | 10,000 | ||
| Rent | 22,000 | ||
| Discount | 8,000 | ||
| Drawings | 10,000 | ||
| Bad Debts | 4,000 | ||
| Input CGST A/C | 10,000 | ||
| Input SGST A/c | 10,000 | ||
| Input IGST A/C | 5,000 | ||
| Output CGST A/C | 5,000 | ||
| Output SGST A/C | 5,000 | ||
| Output IGST A/c | 15,000 | ||
| Total | 16,07,000 | 16,07,000 |
The stock on 3lst March, 2024 was valued at 1,40,000.
T.S.Grewal/2024 Edition/Practical Problems/Q-23
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 :