Prepare Trading and Profit and Loss account for M/s Solar Charkha Makers from the following information for the year ending 31-03-2019 when Closing stock is valued at 20,000.
Trial Balance as on 31.3. 2018
| Name of Account |
Debit Balance (Rs.) |
Credit Balance (Rs.) |
| Opening Inventory |
50,000 |
..... |
| Purchase and Sales |
8,15,000 |
12,03,700 |
| Returns |
700 |
5,000 |
| Rent Received |
.... |
13,400 |
| Debtors and Creditors |
1,28,000 |
3,44,800 |
| Capitals |
..... |
2,40,000 |
| Salaries and Wages |
35,000 |
..... |
| Bad Debts |
7,800 |
..... |
| Patents |
35,000 |
..... |
| Machinery |
4,50,000 |
...... |
| Bank Loan |
...... |
2,00,000 |
| Cash at Bank |
485,400 |
..... |
|
\(\underline{\underline{\over{20,06,900}}}\)
|
\(\underline{\underline{\over{20,06,900}}}\)
|
