Account

39. From following information prepare Trading & Profit and loss account in the books of Amit for the year ended 31" December 2015: Opening stock of finished goods 25,000 Cost of goods manufactured 8,50,000 Sales 12,00,000 Closing stock of finished goods 20,000 Rates and Taxes 12,500 Salaries 50,000 Advertisement 10,000 Bad debts 5,000 Discount(Cr) 7,500 Adjustments: 1.Outstanding salary 10,000 2. Interest on Investment 2,000 (Sem 1 oct 2016 SQ-GP=3,45,000;NP=2,67,000)