From the following balances of Mis. Nillu Sarees as on 31st March, 2016. Prepare trading and profit and loss account and balance sheet as on date.
| Particulars |
Rs. |
Particulars |
Rs. |
| Opening stock |
10,000 |
Sales |
2,28,000 |
| Purchases |
78,000 |
Capital |
10,000 |
| Carriage inwards |
2,500 |
Interest |
7,000 |
| Salaries |
30,000 |
Commission |
8,000 |
| Commission |
10,000 |
Creditors |
28,000 |
| Wages |
11,000 |
Bills payable |
2,370 |
| Rent and Taxes |
2,800 |
Bank overdraft |
21,330 |
| Repair |
5,000 |
|
|
| Telephone expenses |
1,400 |
|
|
| Legal charges |
1,500 |
|
|
| Sundry expenses |
2,500 |
|
|
| Cash in hand |
12,000 |
|
|
| Debtors |
30,000 |
|
|
| Machinery |
60,000 |
|
|
| Investments |
90,000 |
|
|
| Drawings |
18,000 |
|
|
Closing Stock as on 3st March, 2016 Rs.22,000.
