From the following data prepare Trading and Profit and Loss Account for the year ending on Mar 31, 2010 and a Balance sheet as on that date:
|
Cash at bank |
45,800 |
Purchases |
2,24,800 |
|
Accounts Receivable |
81,300 |
Sales |
7,14,000 |
|
Merchandise Inventory |
122,200 |
Dealing Expenses |
24400 |
|
Stores Equipment |
77,000 |
Selling Expenses |
2.400 |
|
Office equipment |
51,600 |
Accumulated Depreciation |
|
|
Salaries |
64,000 |
On Stores equipment |
24.500 |
|
Drawings |
48,000 |
On Office equipment |
18.500 |
|
Sales Returns |
8,240 |
Accounts Payable |
77,200 |
|
Office Expenses |
36,000 |
Capital |
1,77000 |
|
Rent |
18,400 |
Purchases Returns |
5440 |
|
Insurance |
15,500 |
Merchandise inventory on Mar 31, 2010 is Rs 1,14,600. Depreciation for current year on stores equipment is Rs 6,200; and on office equipment: Rs 5,400; Rs 3,200 for rent is due but not paid. Insurance prepaid is Rs 5,500. At computer of the value of Rs 10,000 purchased during the year is included in the purchase.