This document contains the trading and profit and loss account and balance sheet for Thomas' account for the year ending March 31st, 2018. The trading and profit and loss account shows revenues of Rs. 118,000 from sales less returns, costs of Rs. 74,000 from purchases less returns and expenses of Rs. 7,000. This results in a gross profit of Rs. 37,000 that was transferred to the profit and loss account. The profit and loss account records further expenses and interest income, resulting in a net profit of Rs. 35,000 that was transferred to capital. The balance sheet dates March 31st, 2018 lists assets of Rs. 125,000 including cash, investments, stock and fixed assets,
This document contains the trading and profit and loss account and balance sheet for Thomas' account for the year ending March 31st, 2018. The trading and profit and loss account shows revenues of Rs. 118,000 from sales less returns, costs of Rs. 74,000 from purchases less returns and expenses of Rs. 7,000. This results in a gross profit of Rs. 37,000 that was transferred to the profit and loss account. The profit and loss account records further expenses and interest income, resulting in a net profit of Rs. 35,000 that was transferred to capital. The balance sheet dates March 31st, 2018 lists assets of Rs. 125,000 including cash, investments, stock and fixed assets,
This document contains the trading and profit and loss account and balance sheet for Thomas' account for the year ending March 31st, 2018. The trading and profit and loss account shows revenues of Rs. 118,000 from sales less returns, costs of Rs. 74,000 from purchases less returns and expenses of Rs. 7,000. This results in a gross profit of Rs. 37,000 that was transferred to the profit and loss account. The profit and loss account records further expenses and interest income, resulting in a net profit of Rs. 35,000 that was transferred to capital. The balance sheet dates March 31st, 2018 lists assets of Rs. 125,000 including cash, investments, stock and fixed assets,