, Balance Sheet as at March , Liabilities Assets Capital , Washing equipment , Add Profit , Less Depreciation ( , ) , , Less Drawings ( , ) , , Stock of materials , , , , , Working Notes : Total Debtors Account , Sales (credit) , , , , , Total Creditors Account , , Purchases (credit) , , , , Statement of Affairs as at March , Liabilities Assets , Washing equipment Capital , Stock of material , , , Illustration Mrs. Surabhi started business on January , with cash of Rs. , , furniture of Rs. , , goods of , and machinery worth , .
During the year she further introduced Rs. , in her business by opening a bank account. From the following information extracted from her books, you are required to prepare final accounts for the ended December , . Receipt from debtors , Cash sales , Cash purchases Wages paid Salaries to staff , Trade expanses , Electricity bill of factory , Drawings of Surabhi Cash paid to creditors , , Bad debts written-off , Cash balance at end of year Mrs.
Surabhi used goods worth , for private purposes, which is not recorded in the books. Charge depreciation on furniture % and machinery % p.a. on December , her debtors were worth , and creditors Rs. , , stock in trade was valued on that date at Rs.
, . Solution Books of Mrs. Surabhi Trading and Profit and Loss Account for the year ended December , Expenses/Losses Revenues/Gains Opening stock Sales , Purchases : Credit , , , , Credit , Closing stock , , Less Goods used for ( , ) , , private use Wages Electricity bill of factory , Gross profit c/d , , , , , Salaries , Gross profit b/d , Trade expenses , , Bad debts , Depreciation: , Machinery , Net profit (transferred , to capital account) , , Balance Sheet of Mrs. Surabhi as at December , Liabilities Assets , Bank , Capital , , Add Net profit , , , , Add Additional capital Less Depreciation ( , ) , , ,