Arshad Enterprises Arshad Enterprises

Trial Balance Trading, Profit and Loss Account

31-Dec-19 For The Year Ended 31 December 2019
Land and Building 100000 Sales 100000 Opening Stock 20000
Purchases 50000 Capital 100000 Purchases 50000
Salaries and Wages 5000 Loan from SME 100000
Return Inwards 5000 Habib Traders 20000
Cash in Hand 80000
Furniture and Fixtures 50000 Gross Profit 65000
Stock 20000 135000
Stationary 5000 Salaries and Wages 5000
Refreshment 5000 Stationary 5000
320000 320000 Refreshment 5000
Net Profit 50000
65000
Closing Stock as on 31 december 2019 is Rs. 40000
 Arshad Enterprises Arshad Enterprises
ding, Profit and Loss Account Balance Sheet
Year Ended 31 December 2019 As on 31 December, 2019
Sales 100000 Liabilities and Capital Assets
Less Return Inwards -5000 Capital 100000 Land and Building 100000
Net Sales 95000 Add; Net Profit 50000 Furniture and Fixtu 50000
Closing Stock 40000 Net Capital 150000 Stock 40000
Loan from SME 100000 Cash in Hand 80000
Creditors
135000 Habib Traders 20000
Gross Profit 65000

270000 270000
65000
 SB Traders SB Traders
Trial Balance Trading, Profit and Loss Account
31-Dec-20 For the year ended 31 December, 2
Dr. Cr. Rs. Rs.
Land and Building 150000 Opening Stock 20000
Capital and Drawings 20000 200000 Purchases 140000
Sales and Purchases 140000 310000 Add; Carriage Inwards 20000
Return inwards and Outwards 40000 10000 Less Return Outwards -10000
Carriage inwards 20000 Net Purchases 150000
Furniture and Fittings 100000 Godds Available for Sale 170000
Motor Vehicles 80000 Closing Stock -50000
Loan from MCB 50000 Cost of Goods Sold 120000
Stock 20000 Gross Profit 150000
Salaries and Wages 10000 270000
Rent 30000 Salaries and Wages 10000
Refreshment 5000 Refreshment 5000
Utilities 8000 Utilities 8000
Stationary 6000 Stationary 6000
Rashid Entrerprises 10000 Total Indirect Expenses 29000
Asad Traders 50000 Net Profit 151000
Cash at Bank 20000 180000
Cash in Hand 21000

650000 650000

Closing stock as on 31 december 2020 is 50000

 SB Traders SB Traders
ng, Profit and Loss Account Balance Sheet
year ended 31 December, 2020 As on 31 December 2020
Rs. Rs. Liabilities and Capital Assets
Sales 310000
Less Return Inwards -40000 Capital 200000 Fixed Assets
Net Sales 270000 Less; Drawings -20000 Land and Building
Add; Net Profit 151000 Furniture an Fittings
Net Capital 331000 Motor Vehicles
Current Assets
Loan from MCB 50000 Stock
Creditors Debtors;
Asad Traders 50000 Rashid Enterprises
270000 Cash at Bank
Gross Profit 150000 Cash in Hand
Rent 30000
Total Operating Profit 180000 431000

180000
20

150000
100000
80000

50000

10000
20000
21000

431000
 ASG Traders
Trail Balance
31-Dec
Dr. Cr.
Capital and Drawings 40000 500000
Debtors and Creditors 100000 150000
Purchases and Sales 400000 600000
Return inwards and Outwards 30000 40000
Land and Building 300000
Furniture and Fittings 200000
Rent 30000
Stationary 10000
Wages and Salaries 20000
Motor Vehicles 100000
Interest 50000
Loan from SCB 200000
Carriage Outwards 10000
Carriage inwards 30000
Utilities 30000
Refreshment 40000
Cash at Bank 120000
Cash in Hand 80000
1540000 1540000

Closing Stock as on 31 December 2020 is Rs. 100000

Required
Prepare final accounts of ASG Traders
 ASG Traders
Trail Balance
31-Dec
Dr. Cr.
Land and Building 500000
Purchases and Sales 200000 350000
Furniture and Fittings 200000
Carriage inwards 30000
Return inwards and Outwards 30000 20000
Rent 50000
Interest 20000
Stationary 10000
Wages and Salaries 20000
Motor Vehicles 100000
Capital and Drawings 40000 500000
Loan from SCB 300000
Carriage Outwards 10000
Utilities 35000
Refreshment 40000
Cash at Bank 80000
Cash in Hand 60000
Ali and Sons 100000
Asad Enterprises 25000
Abid Traders 30000
Adil and Co. 110000
1430000 1430000

Closing Stock as on 31 December 2020 is Rs. 100000