BALANCE SHEET, PROFIT &LOSS A/C, TRADING A/C
BALANCE SHEET, PROFIT &LOSS A/C, TRADING A/C...................
Balance sheet:
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✅ Assets:
1. Cash in Hand – ₹25,000
2. Bank Balance – ₹80,000
3. Accounts Receivable (Debtors) – ₹1,20,000
4. Stock/Inventory – ₹60,000
5. Land and Building – ₹5,00,000
6. Furniture and Fixtures – ₹70,000
7. Plant and Machinery – ₹2,50,000
8. Investments – ₹1,00,000
9. Prepaid Expenses – ₹15,000
10. Goodwill – ₹40,000
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❗ Liabilities:
1. Capital Account – ₹6,00,000
2. Bank Loan – ₹1,50,000
3. Accounts Payable (Creditors) – ₹90,000
4. Outstanding Expenses – ₹30,000
5. Bills Payable – ₹70,000
6. Long-term Loans – ₹2,00,000
7. Short-term Borrowings – ₹60,000
8. Accrued Liabilities – ₹25,000
9. Provision for Tax – ₹50,000
10. Reserves and Surplus – ₹40,000
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This data can be used to create a complete Balance Sheet in the format:
Assets = Liabilities + Capital.
PROFIT & LOSS A/C
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✅ Incomes:
1. Sales Revenue – ₹5,00,000
2. Commission Received – ₹20,000
3. Interest on Investment – ₹15,000
4. Rent Received – ₹25,000
5. Discount Received – ₹10,000
6. Profit on Sale of Assets – ₹18,000
7. Dividend Received – ₹12,000
8. Service Income – ₹50,000
9. Sundry Receipts – ₹8,000
10. Royalty Income – ₹13,000
11. Export Incentives – ₹22,000
12. Insurance Claim Received – ₹17,000
13. Interest on Loan Given – ₹14,000
14. Consultation Fees – ₹30,000
15. Miscellaneous Income – ₹9,000
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❗ Expenses:
1. Purchases – ₹3,00,000
2. Salaries and Wages – ₹1,00,000
3. Rent and Rates – ₹40,000
4. Electricity and Water Charges – ₹18,000
5. Stationery and Printing – ₹12,000
6. Advertisement Expenses – ₹20,000
7. Transportation Charges – ₹15,000
8. Repairs and Maintenance – ₹25,000
9. Depreciation – ₹30,000
10. Insurance Premium – ₹10,000
11. Legal and Professional Fees – ₹16,000
12. Interest on Loan – ₹22,000
13. Bad Debts – ₹8,000
14. Commission Paid – ₹14,000
15. Miscellaneous Expenses – ₹11,000
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This data can be used to prepare a Profit & Loss Account:
Net Profit/Loss = Total Incomes – Total Expenses.
TRADING A/C
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✅ Direct Incomes:
1. Sales Revenue – ₹5,00,000
2. Closing Stock – ₹80,000
3. Goods Returned Inward (Sales Return) – ₹12,000
4. Scrap Sales – ₹10,000
5. Discount on Purchases – ₹8,000
6. Job Work Charges Received – ₹15,000
7. Export Sales – ₹50,000
8. Subsidy on Production – ₹18,000
9. Sale of By-products – ₹7,000
10. Sale of Raw Material – ₹14,000
11. Income from Scrap Material – ₹9,000
12. Rebate Received – ₹11,000
13. Royalty on Production – ₹13,000
14. Government Grants for Production – ₹20,000
15. Commission on Sales – ₹25,000
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❗ Direct Expenses:
1. Opening Stock – ₹1,00,000
2. Purchases – ₹3,00,000
3. Less: Purchase Returns – ₹15,000 → ₹2,85,000
4. Freight Inward/Carriage Inward – ₹20,000
5. Wages – ₹30,000
6. Power and Fuel – ₹12,000
7. Factory Rent – ₹18,000
8. Customs Duty – ₹10,000
9. Import Duty – ₹9,000
10. Packing Charges – ₹6,000
11. Octroi Charges – ₹8,000
12. Excise Duty – ₹14,000
13. Direct Labour Charges – ₹22,000
14. Consumable Stores – ₹13,000
15. Factory Insurance Premium – ₹11,000
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📊 Trading Account Format:
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Trading Account for the Year Ended
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Dr. Side (Direct Expenses):
1. Opening Stock – ₹1,00,000
2. Purchases – ₹3,00,000
3. Less: Purchase Returns – ₹15,000 → ₹2,85,000
4. Freight/Carriage Inward – ₹20,000
5. Wages – ₹30,000
6. Power and Fuel – ₹12,000
7. Factory Rent – ₹18,000
8. Customs Duty – ₹10,000
9. Import Duty – ₹9,000
10. Packing Charges – ₹6,000
11. Octroi Charges – ₹8,000
12. Excise Duty – ₹14,000
13. Direct Labour Charges – ₹22,000
14. Consumable Stores – ₹13,000
15. Factory Insurance Premium – ₹11,000
❗ Total Direct Expenses: ₹5,58,000
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Cr. Side (Direct Incomes):
1. Sales Revenue – ₹5,00,000
2. Goods Returned Inward – ₹12,000
3. Scrap Sales – ₹10,000
4. Discount on Purchases – ₹8,000
5. Closing Stock – ₹80,000
6. Job Work Charges Received – ₹15,000
7. Export Sales – ₹50,000
8. Subsidy on Production – ₹18,000
9. Sale of By-products – ₹7,000
10. Sale of Raw Material – ₹14,000
11. Income from Scrap Material – ₹9,000
12. Rebate Received – ₹11,000
13. Royalty on Production – ₹13,000
14. Government Grants for Production – ₹20,000
15. Commission on Sales – ₹25,000
✅ Total Direct Incomes: ₹7,92,000
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🔎 Gross Profit:
Gross Profit = Total Direct Incomes – Total Direct Expenses
Gross Profit = ₹7,92,000 – ₹5,58,000
✅ Gross Profit = ₹2,34,000
This Gross Profit will be transferred to the Profit & Loss Account.
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