Purchase return Return inwards , , Postage and Telegram Bills payable Salary , Discount Provision for bad debts , Rent and Rates Interest received , Packing and Transport , General expense Insurance , Cash in hand Cash at bank , Machinery Lighting and Heating Discount , , Investment , , , , , Adjustments . Depreciation charged on machinery @ % p.a. . Further bad debts Rs.
, , discount on debtors @ % and make a provision on debtors @ %. . Wages prepaid Rs. , .
. Interest on investment @ % p.a. . Closing stock , .
( Ans. : Gross Profit Rs. . ; Net Profit Rs.
, ; Total Balance Sheet Rs. , , ). The following balances has been extracted from the trial of M/s Runway Shine Ltd. Prepare a trading and profit and loss account and a balance sheet as on March , .
, , , , , Return outwards , Return inwards Interest received , Carriage inwards , Discount received Cash in hand , , , Cash at bank , Bill payable , , , , Printing and Stationery , Discount Insurance , Investment , , Bills receivable Postage and Telegraph Commission Interest Repair Lighting Charges Telephone charges Carriage outward Motor car , , , , , Adjustments . Further bad debts Rs. , . Discount on debtors Rs.
and make a provision on debtors @ %. . Interest received on investment @ %. .
Wages and interest outstanding Rs. and Rs. respectely. .
Depreciation charged on motor car @ % p.a. . Closing Stock Rs. , .
( Ans. : Gross profit Rs. , ; Net profit Rs. , , Total balance sheet Rs.
, , ) . The following balances have been extracted from the trial of M/s Haryana Chemical Ltd. You are required to prepare a trading and profit and loss account and balance sheet as on March , from the given information. , , , , , Purchases return , Sales return , Cash in hand , Rent Cash at bank Interest Carriage Bills payable , , Free hold land , , , , Patents , , General Expenses