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Subjective Questions

Prepare trading and profit and loss account and balance sheet of M s Royal Traders from the followin...........

Accountancy (11th) Chapter-9 Financial Statements-1
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    Prepare trading and profit and loss account and balance sheet of M/s Royal Traders from the following balances as on March 31, 2017.   (5 marks)

    Debit balances

    Amount Rs

    Credit balances

    Amount Rs

    Stock

    20,000

    Sales

    2,45,000

    Cash

    5,000

    Creditors

    10,000

    Bank

    10,000

    Bills payable

    4,000

    Carriage on purchases

    1,500

    Capital

    2,00,000

    Purchases

    1,90,000

    Drawings

    9,000

    Wages

    55,000

    Machinery

    1,00,000

    Debtors

    27,000

    Postage

    300

    Sundry expenses

    1,700

    Rent

    4,500

    Furniture

    35,000
     
    Closing stock Rs 8,000.
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