Financial Accounting

[mc070402817]

From the following Trial Balance Extracted from the Rehman and Sons,
Prepare a Profit and Loss Account for the year ended 31-12-2006 and a
Balance Sheet as at that date

Particulars
Debit
Rs. Credit
Rs.
Sales 204,000
Capital 120,000
Bank over Draft 103,560
Sundry Creditors 120,000
Stock 1.1.2006 60,400
Purchases 231,600
Sundry Debtors 109,660
Returns Inward 3,640
General Expenses 6,980
Plant 22,620
Wages & Salaries 16,740
Building 50,000
Cash in Hand 680
Cash at Bank 8,720
Drawings 16,960
Motive Power 2,300
Dock & Clearing Charges 1,300
Coal, Gas, Water 1,700
Salaries 9,820
Interest on Over Draft 4,440
547,560 547,560

Closing Stock has been valued at Rs. 40,000

[anniebird]

The idea behind this site it to help and advise people with genuine problems - not to do your accounting homework. I suggest you try reading your textbook and asking your tutor. If you still cannot do the question then perhaps you are on the wrong course.

[WendyS]

Couldn't agree more with anniebird. How are you going to fare in your exams when there's no help around if you don't understand the basics?
Am afraid there really is no substitute for getting to grips with your studies yourself., however much of a struggle it is.