TRADING AND P/L ACCOUNT FOR THE

YEAR ENDING
Expense

Amount (Rs.)

To Purchase a/c
To gross profit c/d

Income

305 By sales a/c

650-305

TOTAL

650

TOTAL

15

To depreciation on
tent

21

TOTAL

650
345

45

Less : prepaid rent (30)

To net profit

650

345

By gross profit b/d

To rent

Amount (Rs.)

345-36

309
345 TOTAL

345

BALANCE SHEET OF AJAY RAWAT

Liability

(Rs.)

Assets

Amount (Rs.)

Amount
Capital

300

Add: Net Profit

309

Fixed Asset
609 Tent and equipment
Less: Depreciation

110
-21

89

Current Assets

TOTAL

609

Cash in bank

490

Prepaid rent

30

TOTAL

609