**Final Account for the year ending 31-12-2016 - Raju**

**Introduction:**
Final accounts are prepared at the end of the accounting period to determine the financial performance and position of a business. The final accounts consist of the trading account, profit and loss account, and balance sheet. In this case, we will prepare the final account for Raju for the year ending 31-12-2016.

**Trading Account:**
The trading account shows the gross profit or loss of a business. It is prepared by calculating the difference between the net sales and the cost of goods sold. The format of the trading account is as follows:

```
Trading Account
For the year ending 31-12-2016

Particulars Amount (Rs.) Particulars Amount (Rs.)
--------------------------------------------------------------
Net Sales Cost of Goods Sold
+ Opening Stock
+ Purchases
- Closing Stock
--------------------------------------------------------------
Gross Profit/Loss
```

**Profit and Loss Account:**
The profit and loss account shows the net profit or loss of a business. It is prepared by deducting all the indirect expenses and losses from the gross profit or adding the indirect incomes and gains to the gross loss. The format of the profit and loss account is as follows:

```
Profit and Loss Account
For the year ending 31-12-2016

Particulars Amount (Rs.) Particulars Amount (Rs.)
--------------------------------------------------------------
Gross Profit/Loss Indirect Expenses
+ Rent
+ Salaries
+ Depreciation
+ Other Expenses
--------------------------------------------------------------
Net Profit/Loss
```

**Balance Sheet:**
The balance sheet shows the financial position of a business at a particular point in time. It consists of assets, liabilities, and capital. The format of the balance sheet is as follows:

```
Balance Sheet
As on 31-12-2016

Liabilities Amount (Rs.) Assets Amount (Rs.)
--------------------------------------------------------------------------
Capital Fixed Assets
+ Opening Capital + Plant and Machinery
+ Net Profit/Loss + Furniture and Fixtures
- Drawings Current Assets
+ Stock
+ Debtors
+ Cash
--------------------------------------------------------------------------
Total Liabilities Total Assets
```

**Closing Entries:**
Before preparing the final accounts, we need to consider certain closing entries. These entries help in transferring the balances of various accounts to the trading account, profit and loss account, and balance sheet. The closing entries are as follows:

1. Transfer the balance of the trading account to the profit and loss account.
2. Transfer the balance of the profit and loss account to the capital account.
3. Close the drawings account by transferring the balance to the capital account.
4. Transfer the balances of various assets and liabilities accounts to the balance sheet.

**Conclusion:**
By following the above guidelines and formats, we can prepare the final account for Raju for the year ending 31-12-2016. It is important to accurately record all the financial transactions and consider the closing entries to ensure the final accounts reflect the true financial position and performance of the business.