The Total solution for NCERT class 6-12
Account title
Debit Amount Rs
Credit Amount Rs
Drawings
36,000
Capital
2,50,000
Insurance
3,000
Bills payable
3,600
General expenses
29,000
Creditors
50,000
Rent and taxes
14,400
Discount received
10,400
Lighting (factory)
2,800
Purchases return
8,000
Travelling expenses
7,400
Sales
4,40,000
Cash in hand
12,600
Bills receivable
5,000
Sundry debtors
1,04,000
Furniture
16,000
Plant and Machinery
1,80,000
Opening stock
40,000
Purchases
1,60,000
Sales return
6,000
Carriage inwards
7,200
Carriage outwards
1,600
Wages
84,000
Salaries
53,000
Trading Account as on March 31, 2017
Dr.
Cr.
Particulars
Amount
Rs
Opening Stock
Less: Sales Return
4,34,000
Less: Purchases Return
(8,000)
1,52,000
Closing Stock
35,000
Lighting (Factory)
Carriage Inwards
Profit and Loss (Gross Profit)
1,83,000
4,69,000
Profit and Loss Account as on March 31, 2017
Trading (Gross Profit)
General Expenses
Discount Received
Rent and Taxes
Travelling Expenses
Carriage Outwards
Net Profit
85,000
1,93,400
Balance Sheet as on March 31, 2017
Liabilities
Assets
Add: Net Profit
3,35,000
Sundry Debtors
Less: Drawings
(36,000)
2,99,000
Bills Receivable
Cash in Hand
Bills Payable
3,52,600