, , , , , , , , , , , , , , , , Prepare trading and profit and loss account for the year ending st March, and balance sheet as on that date after considering the following: (a) Depreciate Plant and machinery @ % (b) Wages outstanding amounts to ` . (c) Half of repairs and maintenance paid is for the next year. Accountancy (d) Closing stock was valued at ` , . ( Answer : Gross profit: ` , ; Net profit ` , , Balance sheet total ` , ) .
From the following trial balance of Ramesh as on st March, , prepare the trading and profit and loss account and the balance sheet as on that date. Debit ` Credit ` Stock ( . . ) Purchases Sales Sundry creditors Furniture and fixtures Debtors Cash at bank Wages Drawings Telephone charges Bad debts Provision for bad debts Discount received Capital Advertising , , , , , , , , , , , , , , , , , , , , Adjustments: (a) Closing stock was valued at ` , (b) Unexpired advertising ` (c) Provision for bad and doubtful debts is to be increased to ` , (d) Provide % for discount on debtors.
(e) Charge interest on drawings @ %. ( Answer : Gross profit ` , ; Net profit ` , ; Balance sheet total ` , , ) . Following are the ledger balances of Devi as on 31st December, . Debit balance Credit balance Purchases Salaries Drawings Opening Stock Capital Sales Carriage inwards Bad debts , , , , , , , Goodwill Sundry debtors Furniture General expenses Commission received Loan Cash at bank Provision for bad debts , , , , , , , , Prepare trading and profit and loss account for the year ended 31st December, and balance sheet as on that date.
(a) Stock on 31st December, ` , . (b) Write off bad debts ` . (c) Make a provision for bad debts @ %. (d) Provide for discount on debtors @ %.