Word Count : 198

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Trading and Profit & Loss Account for the year ended 31st Dec, 2021

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Particulars	Rs	Particulars	Rs
Sales	15000	Less: Returns	2000
Net Sales	13000	Purchases	12000

Dr. (Rs)		Cr. (Rs)
Capital		10,000
Cash	1,500
Bank overdraft		2,000
Purchases and Sales	12,000	15,000
Returns	1,000	2,000
Establishment expenses	2,200
Taxes and Insurance	500
Bad debts and Prov. for bad debts	500	700
Debtors and Creditors	5,000	2,000
Commission		500
Deposits	4,000
Opening stock	3,000
Drawings	1,400
Furniture	600
BR and BP	3,000	2,500
Total	34,700	34,700

Adjustments:
1. Salaries Rs 100 and taxes Rs 200 are outstanding but insurance Rs 50 is prepaid.
2. Commission Rs 100 is received in advance for next year.
3. Depreciate furniture by 10%.
4. Bad debts provision is to be maintained at Rs 1000.
5. Interest Rs 210 is to be received on deposits and interest on Bank overdraft Rs 300 is to be paid.
6. Stock on 31st December 2021 was Rs 4500 

From the following particulars of M/s PQR & Co., prepare a Three Column Cash Book

2022
August	15	Cash in hand	Rs 80,000
“	15	Balance in Bank Account	Rs 4, 50,000
“	16	Cash Sales	Rs 4.50,000
“	17	Purchased goods and issued cash	Rs 3, 60,000
“	18	Received from Shyam 2, 00,000 in cheque, 2, 95,000 in cash in full settlement of
		account Rs 5,00,000
“	20	Cash deposited in bank Rs 6, 10,000
“	21	Paid Radhey Shyam by cheque, received account in full settlement of
		Rs 4, 00,000 Rs 3,95,000
“	22	Received from Bhawana Rs 1, 79,000
“	22	Discount Allowed Rs 1,000
“	24	Cash withdrawn for office purpose Rs 1, 50,000
“	25	Paid Raghu in Cash Rs 80,000
		Discount allowed by him	Rs 20,000
“	26	Paid for stationery	Rs 40,000
“	28	Deposited cash in Bank	Rs 1, 80,000
“	30	Cash withdrawn from Bank for personal use	Rs 60,000

Difference between Profit & Loss Account and Balance Sheet

(i) Record the following transactions in Journal?

(ii) Post them into Ledger

April	1	Naresh Brothers commenced business with cash	15,000
”	2	Purchased furniture for cash	20,000
”	4	Purchased goods from Vijay & Co.	40,000
”	5	Sold goods	4,500
”	6	Paid rent	2,000
”	8	Sold goods to Arun Brothers	10,000
”	9	Arun Brothers returned goods	500
”	11	Bought goods from Rakesh & Co.	25,000
”	12	Returned goods to Rajesh & Co.	1,000
”	14	Paid for Advertising	2,000
”	15	Paid for Stationery	200
”	18	Drew for personal use	2,000
”	20	Cash Sales	9,000
”	21	Received from Arun Brothers	2,500
”	22	Paid to Vijay & Co.	13,000
”	25	Sold goods to Sugriv & Co.	15,000
”	26	Cash Sales	7,000
”	29	Paid Salaries	6,000
”	30	Paid Municipal taxes	1,000
”	30	Paid Printing Charges	2,000