Question

In: Finance

M/s R K Gupta & Sons deals in digital watches of multiple brands and has a...

M/s R K Gupta & Sons deals in digital watches of multiple brands and has a presence in various locations of Delhi-NCR. From the balances extracted from the books of M/s R K Gupta & Sons, prepare Trading & Profit & Loss A/c and the Balance Sheet. The value of stock as on 31 March 2020 was Rs 3700.

Particulars

Amount (Rs)

Particulars

Amount (Rs)

Opening stock

1250

Plant & Machinery

6230

Sales

11800

Return outwards

1380

Depreciation

667

Cash in hand

895

Commission (Cr.)

211

Salaries

750

Insurance

380

Debtors

1905

Carriage inwards

300

Discount (Dr.)

328

Furniture

670

Bills Receivable

2730

Printing charges

481

Wages

1589

Carriage outwards

200

Return inwards

1659

Capital

9228

Bank overdraft

4000

Creditors

1780

Purchases

8679

Bills payable

541

Petty Cash in hand

47

Bad debts

180

Solutions

Expert Solution


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