The Total solution for NCERT class 6-12
Debit balances
Amount Rs
Credit balances
Stock
20,000
Sales
2,45,000
Cash
5,000
Creditors
10,000
Bank
Bills payable
4,000
Carriage on purchases
1,500
Capital
2,00,000
Purchases
1,90,000
Drawings
9,000
Wages
55,000
Machinery
1,00,000
Debtors
27,000
Postage
300
Sundry expenses
1,700
Rent
4,500
Furniture
35,000
Trading Account as on March 31, 2017
Dr.
Cr.
Particulars
Amount
Rs
Opening Stock
Closing Stock
8,000
Carriage on Purchases
Profit and Loss (Gross Loss)
13,500
2,66,500
Profit and Loss Account as on March 31, 2017
Trading (Gross Loss)
Sundry Expenses
Net Loss
Balance Sheet of M/s Royal Traders as on March 31, 2017
Liabilities
Assets
Less: Net Loss
(20,000)
Less: Drawings
(9,000)
1,71,000
Bills Payable
1,85,000