Page 104 - Office Practice and Accounting 10
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Solution:
Profit and Loss Account
Kamal Industry Limited
For the year ended 31st Ashadh 2072
Dr. Cr.
Particulars Amount Particulars Amount
To Salaries 40,000 By Gross profit 1,00,000
To Trade expenditure 5,000 By Commission received 10,000
To Bank charge 500 By Rent received 25,000
To Discount on sale 3,000 By Interest received 2,000
To Traveling expenses 11,000
To Interest expenses 15,000
To Net profit 62,500
Total 1,37,000 Total 1,37,000
11. From the following particulars prepare profit and loss account of
Gitanjali Hardware for the fiscal year 2072/073.
Gross loss Rs. 52,000
House rent Rs. 5,000
Discount Rs. 2,500
Interest on development bond Rs. 15,000
Bad debts recovered Rs. 25,000
Advertisement Rs. 1,500
Commission received Rs. 2,500
Printing expenses Rs. 500
98 Office Practice and Accounting 10
