Prepare trading and profit and loss account and balance sheet from the following particulars as on M...........

Accountancy (11th) Chapter-9 Financial Statements-1

Prepare trading and profit and loss account and balance sheet from the following particulars as on March 31, 2017. (5 marks)

Account Title	Debit Amount Rs	Credit Amount Rs
Purchases and Sales	3,52,000	5,60,000
Return inwards and Return outwards	9,600	12,000
Carriage inwards	7,000
Carriage outwards	3,360
Fuel and power	24,800
Opening stock	57,600
Bad debts	9,950
Debtors and Creditors	1,31,200	48,000
Capital		3,48,000
Investment	32,000
Interest on investment		3,200
Loan		16,000
Repairs	2,400
General expenses	17,000
Wages and salaries	28,800
Land and buildings	2,88,000
Cash in hand	32,000
Miscellaneous receipts		160
Sales tax collected		8,350