Name Warda Iqbal

Roll # BBA07183048

Thomas account
Trading and Profit and Loss Account
For year ending 31.03.2018

Details Rs. Details Rs.

Opening stock 10,000 Sales 120,000
Purchases 75,000 Less return 2,000 118,000
Less return 1,000 74,000 Closing stock 9,000
Wages 2,000
Fright inward 4,000

Gross profit ( transferred to 37,000

profit and loss account)
127,000 127,000

Bank charges 1,000 Gross profit ( transferred 37,000

from trading account)
Depreciation Accrued interest on
Machinery 3000 investment 2,000
Net profit ( transferred to 35,000
capital)
39,000 39,000

Balance Sheet As at 31.03.2018

Assets Rs. Liabilities Rs.

CURRENT ASSETS CURRENT LIABILITIES
Cash in hand 4,000 Creditors 30,000
Cash at bank 18,000
Investment 10,000
Accrued interest on 2,000
investment

Closing stock 9,000

FIXED ASSETS FIXED LIABILITIES

Land 30,000 Capital 60,000

Building 25,000 + net profit 35,000 95,000
Machinery 30,000 27,000
Less depreciation 3,000
125,000 125,000