Question

From the following transactions of Fijo and Joshy associates, prepare Trial Balance, Trading Profit, and Loss account and Balance Sheet.

Adjustments 

1. Depreciation of Furniture Rs. 640 

2. Closing stock valued at Rs.2900

Answer 1

Procedure: Step 1 – Create Organisation Click on create Organisation Tab Enter the details 

Fijo and Joshy Associates – Profit Making1/1/2018-31/12/2018. Enter all other details with imaginary data. 

Step 2 – Create Ledger Account 

Master → Create Account 

Analysis Table

Create all the above ledger accounts under appropriate Groups and Subgroups. 

Step 3 – Voucher Entry 

Enter the adjustment entries in appropriate 

voucher type 

Voucher menu/Transaction menu → Select Voucher type → Number → Date → Debit & Credit → Save 

Analysis Table (Adjustments)

Step 4 – Display Trial Balance 

Report → Trial Balance

Step 5 – Display Profit & Loss Account Reports → Profit & Loss Account 

Step 6 – Display Balance Sheet Report → Balance Sheet 

Output: