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Trading and Profit Loss Account Summary

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shubham.97724
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35 views1 page

Trading and Profit Loss Account Summary

Uploaded by

shubham.97724
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Trading and Profit and Loss Account Balance Sheet

Particulars Dr. Particulars Cr. Liabilities Amount Assets Amount


To Opening Stock 3,42,000 By Sales 24,77,500 Capital Plant and Machinery 2,00,000
To Purchases (net) 10,02,600 -Opening 8,00,000 Less: Depreciation -20,000
To Mfg. Wages 3,45,000 Add: Profit 5,59,511 Furniture 1,00,000
To Freight 18,600 Less: Depreciation -5,000
To Mfg. Expenses 95,000 Buildings 2,40,000
To Fuel and Power 12,800
To Factory Lighting 9,500 Creditors 4,45,600 Goodwill 2,50,000
To Gross Profit 9,57,000 By Closing Stock 3,05,000 Bank Loan 1,50,000 Debtors 7,82,000
27,82,500 27,82,500 Commission Payable Less: Provision -39,100
-General Manager 11,419 Motor Car 1,20,000
To Salaries 1,58,500 By Gross Profit 9,57,000 -Work Manager 9,570 Less: Depreciation -10,000
To Freight on Sales 21,400 Bank 42,000
To Insurance and Tax 42,500 Cash 11,200
To General Expenses 82,000 Stock 3,05,000
To Bad Debts 14,000 19,76,100 19,76,100
To Interest and Bank Charges 4,000
To Depreciation
-Plant and Machinery 20,000
-Furniture 5,000
-Motor Car 10,000
To Provision 19,100
To Commission to WM 9,570
To GM Commission 11,419
To Net Profit 5,59,511
9,57,000 9,57,000

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