Prepare trading and profit and loss account and balance sheet in the books of Deri, a trader, from the following balances as on March 31, 2018.
| Debit Balances |
Rs |
Credit Balances |
Rs |
| Stock |
10,000 |
Sales |
1,22,500 |
| Cash |
2,500 |
Creditors |
5,000 |
| Bank |
5,000 |
Bills payable |
2,000 |
| Freight inwards |
750 |
Capital |
1,00,000 |
| Purchases |
95,000 |
|
|
| Drawings |
4,500 |
|
|
| Wages |
27,500 |
|
|
| Machinery |
50,000 |
|
|
| Debtors |
13,500 |
|
|
| Postage (office) |
150 |
|
|
| Sundry expenses |
850 |
|
|
| Rent paid |
2,500 |
|
|
| Furniture |
17,250 |
|
|
| |
2,29,500 |
|
2,29,500 |
Closing stock (31st March, 2018) Rs. 8,000.
