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From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,?
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From the following prepare Trading Account, Profit and Loss Account an...
Trading Account:
Sales: Rs. 30,000
Cost of Goods Sold: Rs. 19,000
Gross Profit: Rs. 11,000
Profit and Loss Account:
Gross Profit: Rs. 11,000
Wages: Rs. 800
Salaries: Rs. 300
Sundry Expenses: Rs. 1,000
Net Profit: Rs. 9,900
Balance Sheet:
Assets:
Machinery: Rs. 2,000
Building: Rs. 4,100
Closing Stock: Rs. 6,000
Debtors: Rs. 5,000
Cash: Rs. 6,000
Liabilities:
Capital: Rs. 9,000
Net Profit: Rs. 9,900
Total: Rs. 18,900
Explanation:
Trading Account:
The Trading Account shows the Sales revenue, the Cost of Goods Sold, and the Gross Profit earned by the business during the accounting period. In this case, Vipul Traders had Sales of Rs. 30,000 and Cost of Goods Sold of Rs. 19,000, resulting in a Gross Profit of Rs. 11,000.
Profit and Loss Account:
The Profit and Loss Account shows the various expenses incurred by the business during the accounting period, as well as the Net Profit earned. In this case, Vipul Traders had Wages of Rs. 800, Salaries of Rs. 300, and Sundry Expenses of Rs. 1,000, resulting in a Net Profit of Rs. 9,900.
Balance Sheet:
The Balance Sheet shows the financial position of the business at a specific point in time, detailing its assets, liabilities, and equity. In this case, Vipul Traders had assets totaling Rs. 17,100 (Machinery, Building, Closing Stock, Debtors, and Cash), as well as liabilities and equity totaling Rs. 18,900 (Capital and Net Profit).
Sales: Rs. 30,000
Cost of Goods Sold: Rs. 19,000
Gross Profit: Rs. 11,000
Profit and Loss Account:
Gross Profit: Rs. 11,000
Wages: Rs. 800
Salaries: Rs. 300
Sundry Expenses: Rs. 1,000
Net Profit: Rs. 9,900
Balance Sheet:
Assets:
Machinery: Rs. 2,000
Building: Rs. 4,100
Closing Stock: Rs. 6,000
Debtors: Rs. 5,000
Cash: Rs. 6,000
Liabilities:
Capital: Rs. 9,000
Net Profit: Rs. 9,900
Total: Rs. 18,900
Explanation:
Trading Account:
The Trading Account shows the Sales revenue, the Cost of Goods Sold, and the Gross Profit earned by the business during the accounting period. In this case, Vipul Traders had Sales of Rs. 30,000 and Cost of Goods Sold of Rs. 19,000, resulting in a Gross Profit of Rs. 11,000.
Profit and Loss Account:
The Profit and Loss Account shows the various expenses incurred by the business during the accounting period, as well as the Net Profit earned. In this case, Vipul Traders had Wages of Rs. 800, Salaries of Rs. 300, and Sundry Expenses of Rs. 1,000, resulting in a Net Profit of Rs. 9,900.
Balance Sheet:
The Balance Sheet shows the financial position of the business at a specific point in time, detailing its assets, liabilities, and equity. In this case, Vipul Traders had assets totaling Rs. 17,100 (Machinery, Building, Closing Stock, Debtors, and Cash), as well as liabilities and equity totaling Rs. 18,900 (Capital and Net Profit).
Community Answer
From the following prepare Trading Account, Profit and Loss Account an...
Reserve 2500 . creditors 2400. outstanding salary 300.
adjustment. depreciation of building of 10/. provision for debts at
10 / on debtors
adjustment. depreciation of building of 10/. provision for debts at
10 / on debtors
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From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,?
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From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,?.
From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following prepare Trading Account, Profit and Loss Account and Balance Sheet of Vipul Traders. Wages Rs 800, Cost of goods sold 19000, Sundry Exp. 1000, Salaries Rs 300, debtors Rs. 5000, Machinery Rs. 2000, Closing Stock Rs. 6000, Building Rs 4100, Cash Rs. 6000, Sales Rs. 30000, Capital Rs. 9000,?.
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