Page 145 - Account 10

Solution:
Profit and Loss A/c of ABC Co., Kathmandu
Dr. For the year ended 2075/076 Cr.

Particulars Amount Particulars Amount
To Office rent 2,000 By Gross profit b/d 18,000
To General expenses 1,500 By Interest received 600
To Salaries 4,500 By Sundry receipt 400
To Commission 700
To Discount 500
To Insurance 1,300
To Carriage on sales 1,200
To Distribution expenses 800
To Lighting and heating 300
To Audit fees 1,700
To Net profit c/d 4,500
Total: 19,000 Total: 19,000
Illustration - 4
From the following information taken from the books of Jagat Bros, for the year ended
30 Chaitra, 075, prepare Profit and Loss A/c.
th
Particulars Amount Particulars Amount
Staff salaries 8,000 Stationers 1,000
Office rent 2,500 General expenses 1,500
Bank charges 700 Administrative expenses 2,500
Advertisement & publicity 1,300 Legal charges 600
Traveller’s salary & commission 1,900 Discount allowed 450
Gross profit 22,000 Carriage out 1,550
Interest from bank 1,100 Sampling expenses 1,200
Dividend received 2,900
Profit and Loss A/c of Jagat Bros.
Dr. For the year ended 30 Chaitra, 075 Cr.
th
Particulars Amount Particulars Amount
To Staff salaries 8,000 By Gross profit b/d 22,000
To Stationers 1,000 By Interest from bank 1,100
To Office rent 2,500 By Dividend received 2,900
To General expenses 1,500
To Bank charges 700
To Administrative expenses 2,500
To Advertisement & publicity 1,300
To Legal charges 600
To Traveller’s salary and commission 1,900
To Discount allowed 450
To Carriage out 1,550
To Sampling expenses 1,200
To Net profit c/d 2,800
Total: 26,000 Total: 26,000

144 Aakar’s Office Practice and Accountancy - 10 Final Accounts 145