Page 42 - VIRANSH COACHING CLASSES

IN THE BOOKS OF MR. PIYUSH AND MR. ARUN.
Trading and Profit and Loss Account for the year Ended 31 March 2019
st
Dr. Cr.

Particulars Amount Amount Particulars Amount Amount
` ` ` `
To Opening Stock 30,800 By Sales 1,20,000
To Purchases 80,000 By Goods destroyed by Fire 8000
To Wages 7,500
To Carriage 3,000 By Closing Stock 35,000
To Royalties 2,500
To Freight 700

To Gross Profit c/d 38,500
1,63,000 1,63,000

To Discount 1,800 By Gross Profit b/d 38,500
To Salaries 5,000 By Interest on Fixed Deposit 1,000
To Printing and Stationery 1,050
To Bad Debts 500 Add : Interest Receivable 1,200 2200
Add : R.D.D. (New) 1,075 1,575

To Loss by Fire 2,000
To Depreciation on 1,010
Furniture
To Travelling Expenses 3,450
To Advertisement 30,000
Less : Prepaid Advt. 20,000 10,000
To Net Profit
(Transfered to Capital A/c's)
Piyush 7,408

Arun 7,407 14,815
40,700 40,700

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