The Total solution for NCERT class 6-12
Account title
Debit Amount Rs
Credit Amount Rs
Opening stock
10,000
Purchases and sales
40,000
80,000
Returns
200
600
Productive wages
6,000
Dock and Clearing charges
4,000
Donation and charity
Delivery van expenses
Lighting
500
Sales tax collected
1,000
Bad debts
Misc. incomes
Rent from tenants
2,000
Royalty
Capital
Drawings
Debtors and Creditors
7,000
Cash
3,000
Investment
Patents
Land and Machinery
43,000
Trading Account as on March 31, 2017
Dr.
Cr.
Particulars
Amount
Rs
Opening Stock
Sales
Purchases
Less: Sales Returns
(200)
79,800
Less: Purchases Returns
(600)
39,400
Productive Wages
Closing Stock
Dock and Clearing Charges
Profit and Loss (Gross Profit)
18,400
81,800
Profit and Loss Account as on March 31, 2017
Donation and Charity
Trading (Gross Profit)
Delivery Van Expenses
Misc. Incomes
Rent from Tenants
Bad Debts
Net Profit
18,700
26,400
Note: As per the solution, net profit is Rs 18,700;however, according to the answer given in the book, it is Rs 18,400.
Balance Sheet as on March 31, 2017
Liabilities
Assets
Add: Profit and Loss (Net Profit)
58,700
Less: Drawings
(2,000)
56,700
Debtors
6,700
Sales Tax Collected
Creditors
64,700