From the following information, prepare the Profit and Loss Account for the year ending on Mar 31, 20….
|
Rs |
Rs |
||
|
Gross Profit |
3,70,000 |
Apprenticeship Premium paid |
2,000 |
|
Salaries |
7,500 |
General Expenses |
6,000 |
|
Carriage Outwards |
2,500 |
Miscellaneous Income |
3,500 |
|
Freight Outwards |
3,000 |
Reinvestment on Fixed Assets |
30,000 |
|
Discount Allowed |
1,000 |
Machinery sold |
12,000 |
|
Discount Received |
1,500 |
(Book value Rs 15,000) |
3,000 |
|
Commission Allowed |
1,500 |
Interest Received |
|
|
Commission Received |
2,000 |
||
|
Rent (factory) |
3,000 |
||
|
Dividend Received |
2,000 |