Preparing Trading And Profit And Loss Account And Balance Sheet

Prepare Trading and Profit and Loss Account and Balance Sheet of Jagat Shan as at 31st March, 2019 from the following balance: The Closing Stock was valued at Rs 2,00,000

Following balances are taken from the books of Niranjan. Prepare Trading and Profit and Loss Account and Balance Sheet for the year ended 31st March 2019. Adjustments: (i) Closing Stock Rs 7,50,000. Depreciate Machinary by 10% and Furniture by 20% . (iii) Wages Rs 50,000 and salaries Rs 20,000 are outstanding . (iv) Write off Rs 50,000 as further Bad debts and create 5% Provision for Doubtful Debts. Also create a reserve for discount on Debtors @ 2% . (v) Investments were made on 1st July 2018 and no interest has been received so far.

From the following balances, prepare Trading and Profit and Loss Account and Balance Sheet : Closing Stock was valued at Rs 30,000