Q51056a From the following Trial Balance of Shri – Atul Sheth prepare Trading and Profit and Loss A/c for the year ended 31st March, 2010 and a Balance Sheet on that date.

Trial Balance as on 31^st March, 2010

Particulars	Dr. Rs.	Cr. Rs.
Machinery	90,000
Building	50,000
Stock (01-04-09)	10,200
Purchases	80,800
Wages & Salaries	17,000
Carriage Outwards	3,000
Sundry Debtors	50,000
General expenses	9,100
Rent	1,700
Bad Debts	650
Income Tax	600
Legal Charges	800
Atul Sheth‟s Drawing	18,000
Cash In hand	24,000
Cash at bank	18,000
Atul Sheth‟s Capital		1,20,200
Sundry Creditors		18,000
Bills Payable		23,000
Returns Outwards		1,800
Interest		3,300
Sales		2,07,550
	3,73,850	3,73,850

Adjustments :-

The following adjustments should be taken into consideration :-

Stock on 31^st March,2010 was Rs.70,000/- valued at cost and market price Rs.82,000/-.

Depreciate Machinery at 10% and Building @ 5%.

Rent Outstanding Rs.800/-.

Based on IGNOU MBA Accounting Assignment Solution and others

Solution:

Shri Atul Sheth’s

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