Page 47 - VIRANSH COACHING CLASSES

THE BOOKS OF SHREYAS AND MRUNAL.
st
Trading and Profit and Loss Account for the year ended 31 March 2019
Dr. Cr.
Particulars Amount Amount Particulars Amount Amount
` ` ` `
To Opening Stock 22,500 By Sales 66,700
To Purchases 37,800 Less : Returns 1200 65,500
Less : Returns 1,800 36,000 By Goods destroyed 5,000
To Carriage Inward 800 by Fire
To Wages 3,100
To Gross Profit c/d 38,100 By Closing Stock 30,000

1,00,500 1,00,500
To Insurance 9,000
Add : Outstanding 3,000 12,000 By Gross Profit b/d 38,100
(3 months)
To Salaries 6,000
Add : Outstanding 1,200 7,200
To Commission 2,400

Add : Outstanding 400 2,800
To Depreciation on Furniture 2,000
To Bad debts 500
Add : Bad Debts (New) 1,200 1,700
To Loss by fire 3,000
To Postage 1,700

To Carriage Outward 1,700
To Net Profit (Transferred to
Capital Accounts)
Shreyas 4,000
Mrunal 2,000 6,000
38,100 38,100

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