Question

Following are the balances extracted form the books of Manish on 31st March, 2019 :

Prepare Trading and Profit and loss Account and Balance Sheet as at 31st March, 2019 after following adjustments are made :
(i) Closing Stock was Rs 16,000.
(ii) Depreciate Plant and Machinery @ 10% and Delivery Vehicle @ 15%.
(iii) Unpaid Rent amounted to Rs 500.

Answer 1

Correct Answer - Gross Profit -Rs 10,900; Net Loss -Rs 24,900; Balance Sheet Total -Rs 2,08,100.
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