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8. Mr.PK books of accounts are incomplete. Prepare Trading and Profit & Loss A/c and Balance Sheet for the year ended 31/3/21 on the basis
8. Mr.PK books of accounts are incomplete. Prepare Trading and Profit & Loss A/c and Balance Sheet for the year ended 31/3/21 on the basis of following information and adjustments- Particulars As on 1/4/20 As on 31/3/21 (in Rs.) (in Rs.) Creditors 5,60,000 5,80,000 Debtors 5,10,000 5,71,000 Stock 5,90,000 7,90,000 Fixed Assets 32,00,000 32,00,000 Receipts To Opening Balance To Debtors To Interest on Investment To Cash Sales Cash Book Amt. (in Rs.) Payments 5,20,000 By Creditors 41,00,000 By Wages 12,500 By Investment 12,00,000 By General Expenses By Drawings By Closing Balance 58,32,500 Amt. (in Rs.) 36,20,000 2,20,000 5,25,000 2,68,000 2,42,000 9,57,500 58,32,500 Total Adjustments:- 1. Charge Depreciation on Fixed Assets @ 10%. 2. Interest on Investment to be taken @ 12% p.a for 6 months
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