NAME: ANKITA BAL PRN - 21010224203

TRADING AND PROFIT & LOSS ACCOUNT

for the Year ended 31st March, 2021
Particulars Amount
Opening Stock 50,000
Purchases 2,40,000
Less : Purchase Return 2000 238,000
Wages and Salaries 24,000
Add: Outstanding Wages and Salaries 1,200

Gross Profit c/d 154,600

467,800
Salaries and wages 40,000
Add: Outstanding salaries and wages 2,800 42,800
Office electricity recharge 3,800
Office postpaid mobile bill 4,800
General expenses 10,000
Insurance premium 3,000
Less: prepaid income 400 2,600
Depreciation on plant and machinery (working note) 14,500

Net Loss (transferred to Capital A/c) 76,100

154,600
 Balance Sheet
as at 31st March, 2021
Liabilities Amount
 DIV. A, BATCH 2021-26
AND PROFIT & LOSS ACCOUNT
Year ended 31st March, 2021
Particulars Amount
Sales 4,55,600
Less: Sales return 1,800 453,800
Closing stock 14,000

Gross Profit c/d 154,600

467,800

154,600
 Balance Sheet
as at 31st March, 2021
Assets Amount
Working note:
Depreciation -
5% of 2,80,000 + 5% of 20,000 for 6 months
which gives 14000 + 500
i.e, 14,500