Page 164 - Account 10

Balance Sheet
As on 30-12-2075
Capital & Liabilities Amount Assets Amount
Capital 8,000 Cash in hand 20
Add: Net profit 2 780 Cash at bank 2,020
10,780 Plant and machinery 3,065
S/creditors 2,400 S/debtors 4,040
Closing stock 4,035
13,180 13,180

Illustration - 8
From the following Trail Balance of Harihar & Sons, prepare Trading and Profit and
Loss A/c for the year ended 32 Ashadh, 2075 and Balance Sheet as on that date:
nd
Debit Balance Amount Credit Balance Amount
Drawing 100 Capital 8,800
Plant and machinery 5,000 Sales 23,400
Fixtures and fittings 600 Purchase returns 200
300
Loose tools 1,000 Discount received 2,100
1,000 S/ creditors
Cash at bank 200 Provision for bad debts 100
Cash in hand 600
Stock (1-4-2075) 11,000
Purchase 400
Sales returns 4,000
Wages 1,600
Carriage inward 2,080
3,500
Salaries 720
Office & general expenses 300
Rent and taxes 400
Postage and telegrams 2,400
Packing and distribution
Sundry debtors
Total 34,900 Total 34,900
The following adjustment should be taken into account.
a. Stock on 32-3-2075 was valued at Rs. 1,540
b. Depreciate plant and machinery at 10% and furniture and fitting at 5%

164 Aakar’s Office Practice and Accountancy - 10 Final Accounts 165