Question - 12

Prepare Trading and Profit and Loss A/c from the following balances extracted from the books of Amit for the year ended 30th June, 2001.

Opening stock Rs. 5,000
Purchases Rs. 35,000
Discount Rs. 150
Refreshment exp. Rs. 350
Sales Rs. 58,000
Purchase return Rs. 1,000
Wages Rs. 600
Carriage Rs. 200
Salaries Rs. 1,500
Commission (Cr.) Rs. 300
Closing stock Rs. 2,700