Page 101 - Office Practice and Accounting 10

7. From the following particulars, prepare profit and loss account as on
30–12–2072.

Particulars Amount Particulars Amount
Wages 3,100 Sales 29,400
Opening stock 1,700 Return outwards 1,500

Carriage 600 Capital 20,000
Purchase 12,200 6% loan (Cr.) 1,000

Return inwards 2,000 Bank overdraft 300
Carriage outwards 900 Creditors 1,800
Fuel and power 400 Debtors 4,500

Cash in hand 620 Drawings 1,500
Cash at bank 700 Insurance 180
Premises 9,000 Sundry expenses 900

Lands 3,000 Salaries 4,500
Machinery 6,00 Patents 2,200
Depriciation 1270

Gross profit 15400

Solution

Profit and Loss Account
For the year ending 30 Chaitra, 2072

Dr. Cr.
Particulars Amount Particulars Amount
To Carriage outward 900 By Gross profit b/d 15,400

To Salaries 4,500
To Sundry expenses 900
To Insurance 180

To Interest 600
To Depreciation 1270
To Net profit 7,590
15,400 15,400

Office Practice and Accounting 10 95