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Prepare Trading and Profit and Loss Account and Balance Sheet from the following balances relating to the year ended 31st March 2018.
Prepare trading profit and loss account and balance sheet. Income part and Expenditure Part. Profit and loss account is mandatory for all the companies which are listed in stock exchange. Trading account is prepared with the help of Trial Balance.
Ad Free Demo Account For Practice. Rs Sundry Debtors 100 000 Bills Payable 85550 Bad Debts 3000 Sundry Creditors 25000 Trade Expenses 2500 Provision for Bad Debts 1500 Printing and Stationery 5000 Return Outwards. Ad Free Demo Account For Practice.
Rs Account title Amt. It determines the gross profit or gross loss of the concern for that accounting year. Preparing a trading account is the first stage in of final accounts of a trading concern.
Ad Execute On Investment Decisions with FactSets Powerful Market-Leading Trading Solutions. A business needs to prepare a trading and profit and loss account first before moving on to the balance sheet. Trading and profit and loss accounts are useful in identifying the gross profit and net profits that a business earns.
I Closing Stock Rs. The stock on 21st December 1991 was valued at 25000. This shows you how much profit your business is.
RsSundry Debtors100000Bills Payable85550Bad Debts3000Sundry Creditors25000Trade Expenses2500Provisions for Bad Debts1500Printing and Stationery5000Return Outwards4500Rent Rates and. In income part we show the following details-Sales of goods Less Sales Returns. Ad Execute On Investment Decisions with FactSets Powerful Market-Leading Trading Solutions.
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