BALANCE SHEET, PROFIT &LOSS A/C, TRADING A/C
BALANCE SHEET, PROFIT &LOSS A/C, TRADING A/C................... Balance sheet: --- ✅ 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 --- ❗ 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 --- This data can be used to create a complete Balance Sheet in the format: Assets = Liabilities + Capital. PROFIT & LOSS A/C --- ✅ Incomes: 1. Sales Revenue – ₹5,00,000 2. Commission Received – ₹20,000 3. Interest on Investment – ₹15,...