ILLUSTRATION FOR FINAL ACCOUNTSFrom the following Trial Balance of a trader, make out Trading, Profit & Loss a/c and Balance Sheet as on 31st March 2000. |
| PARTICULARS | DEBIT RS. | CREDIT RS. |
| Sales | 4,20,000 | |
| Purchases | 1,05,000 | |
| Printing Charges | 2,500 | |
| Wages | 77,500 | |
| Salaries | 12,500 | |
| Opening stock | 2,25,000 | |
| Carriage Inwards | 8,800 | |
| General Expenses | 26,250 | |
| Trade Marks | 5,000 | |
| Rates and Taxes | 2,500 | |
| Capital | 1,74,800 | |
| Discount Received | 1,250 | |
| Loan | 1,75,000 | |
| Buildings | 2,00,000 | |
| Furniture | 25,000 | |
| Machinery | 50,000 | |
| Cash | 1,000 | |
| Bank | 30,000 | |
| 7,71,050 | 7,71,050 |
Adjustments:a) The closing stock was valued at rs.3,20,000.b) Outstanding salaries rs.10,000. c) Prepaid rates & taxes rs.500. |