Prepare Trading , Profit And loss and Balance Sheet
Part 1
Trading account |
|||||
Opening stock |
90000 |
Sales |
310000 |
||
Purchases |
200000 |
Less: sales returns |
50000 |
260000 |
|
Less: purchase returns |
10000 |
190000 |
|||
Wages |
50000 |
Closing stock |
320000 |
||
Gross profit |
250000 |
||||
580000 |
580000 |
Part 2
Profit And loss account |
|||
Salaries |
35000 |
Gross profit |
250000 |
Rent |
30000 |
Commission received |
20000 |
General expenses |
15000 |
||
Net profit |
190000 |
||
270000 |
270000 |
Part 3
Balance sheet |
||||
Liabilities and capital |
Assets |
|||
Capital |
300000 |
Land and building |
170000 |
|
Add: net profit |
190000 |
Machinery |
65000 |
|
490000 |
Furniture |
50000 |
||
Less: drawings |
20000 |
470000 |
||
Closing stock |
320000 |
|||
Bank loan |
155000 |
Debtors |
100000 |
|
Creditors |
145000 |
Cash in hand |
65000 |
|
Total |
770000 |
Total |
770000 |
Prepare Trading , Profit And loss and Balance Sheet Particulars Dr. Amount (Dhs) Cr. Amount (Dhs)...
From the following information in Trial balance prepare Trading, Profit and Loss Account and Balance Sheet of the company as on 31st December 2020. Particulars Dr. Amount (Dhs) Cr. Amount (Dhs) Capital Purchases Purchase Returns Sales Sales Returns Opening Stock Cash in Hand Salaries Rent Commission received Drawings Wages General Expenses Creditors Debtors Machinery Furniture Land and Building Bank Loan 200,000 50,000 90,000 65,000 35,000 30,000 20,000 50,000 15,000 100,000 65,000 50,000 170,000 300,000 10,000 310,000 20,000 145,000 155,000...
Q1. From the following information in Trial balance of the Mohammed LLC as on 31 December 2019, you are required to prepare: a. Profit and Loss Account b. Balance Sheet Associate of Science Degree in Bus Associate of Science Degree in Information Technology (MIT) Trial Balance for the year ended 31 December 2019 Dr.Amount Dhs) 180,000 Cr. Amount (Dhs) 240.000 15,000 325,000 35,000 80,000 35,000 40,000 35,000 40,000 Particulars Capital Purchases Purchase Returns Sales Sales Returns Opening Stock Cash in...
9. Prepare a Trading and Profit and Loss Account and a Balance Sheet from the following information : Dr.Balances Cr. Balances Stock on 1-4-2017 42,000 Sales 96,170 Purchases 68,250 Loans 60,000 Carriage 600 Discount 850 Wages 12,000 Commission 680 Power 1,800 Sundry creditors 6,000 Furniture & fixtures 4.000 Capital 30,000 Investments 250 6,000 Provision for Depreciation Freehold premises 15,000 Traveling expenses 900 Debtors 1,000 Interest 400 Bill receivable 1,800 Tools 7,000 Plant & machinery 30,000 Bad debts 200 Drawings 3,000...
Accounting Question Prepare trading and profit and loss account for the year ended on 31 March 2015 Particulars Credit ₹ 1,97,560 1,000 Debit ₹ 1,080 5,260 81,350 1,360 20,960 9,460 6,400 4,080 11,520 60,000 20,000 40,000 30,000 15,000 6,000 1,200 10,490 29,000 3,53,160 Cash in hand Cash at bank Purchases/Sales Returns Wages Fuel and Power Carriage on Sales Carriage on Purchases Stock (1.4.2011) Building Freehold land Machinery Salaries Patents General Expenses Insurance Drawings/Capital Sundry Debtors/Creditors 다 1,42,000 12,600 3,53,160
Adjustments: i) Stock on hand on 31-12-2016 Rs.90,000 ii) Provide depreciation on Premises at 2.5%; Plant & Machinery at 7.5% and Furniture at 10% iii) Write off Rs.800 as further bad debts iv) Provide for doubtful debts at 5% on sundry debtors v) Outstanding rent wasRs.500 and outstanding wages Rs.400 vi) Prepaid insurance Rs.300 and prepaid salaries Rs.700
Quote L ABCD AABBCCD AABAC Intense ... Subtle Ref... Intense R.. Book Tim Styles Jake Colombo is a sole trader. On December 31, 2015 the following Trial Balance was extracted from his books: Trial Balance as at December 31, 2015 Details Premises DR CR Plant and Machinery 8,000,000 Office Furniture 6,500,000 Provision for Depreciation: Plant and Machinery 1,500,000 - Provision for Depreciation office furniture 3,500,000 Stock at 1.1.2015 1,000,000 600,000 Debtors 550,000 Creditors 270,000 Purchases 4,700,000 Carriage Inwards M 120,000...
Calculate (i) debt-equity ratio and (ii) Liquid ratio iii) Turnover ratios from the following balance sheet and additional information. Balance Sheet Liabilities Amount - £ Assets Amount - £ Equity shares of £ 10 each 100,000 Goodwill 60,000 Reserves 20,000 Fixed Assets at cost 140,000 Profit and loss account 30,000 Stock 30,000 Secured loan 80,000 Sundry debtors 30,000 Sundry Creditors 50,000 Advances 10,000 Provision for taxation 20,000 Cash 30,000 300,000 300,000 The sales for the year were £ 560,000 and...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 30,000 $ 20,000 $ 18,000 Accounts receivable (net) 50,000 45,000 48,000 Other current assets 90,000 95,000 64,000 Investments 55,000 70,000 45,000 Plant and equipment (net) 500,000 370,000 358,000 $725,000 $600,000 $533,000 Current liabilities $ 85,000 $ 80,000 $ 70,000 Long-term debt 145,000 85,000 50,000 Common stock, $10 par 320,000 310,000 300,000 Retained earnings 175,000 125,000 113,000...
Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 30,000 $ 20,000 $ 18,000 Accounts receivable (net) 50,000 45,000 48,000 Other current assets 90,000 95,000 64,000 Investments 55,000 70,000 45,000 Plant and equipment (net) 500,000 370,000 358,000 $725,000 $600,000 $533,000 Current liabilities $ 85,000 $ 80,000 $ 70,000 Long-term debt 145,000 85,000 50,000 Common stock, $10 par 320,000 310,000 300,000 Retained earnings 175,000 125,000 113,000...