Answer to Question #320194 in Management for Priyanka

Question

From the following Trial Balances (Partial) of M/s. Navjyoth Traders, prepare a

Trading and Profit and Loss Account fo0r the year ending 31st March, 2021.

Particulars Debit Credit

Stock on 1st April, 2019 5,000 ----

Purchases and Sales 50,000 75,000

Returns 4,000 2,000

Carriage 2,500 ----

Inwards 2,000 ----

Stationery 3,000 1,800

Rent Interest 1,500 5,000

Salaries 4,800 ----

General Trade Expenses 2,000 ----

Discount 500 1,000

Insurance 1,250 ----

The Closing Stock on 31st 2020 is Rs.14,000/-

Answer 1

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