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  • Profit and Loss Account

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    Nikhil Verma
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    This document is a profit and loss account for a business from April 1, 2021. It shows an opening stock of Rs. 17,24,800, purchases of Rs. 3,67,000, and sales of Rs. 8,61,000, resulting in a gross profit of Rs. 5,29,000. It also lists various indirect expenses totaling Rs. 2,39,975 and indirect incomes of Rs. 1,52,700, resulting in a net profit of Rs. 4,41,725.

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    PROFIT AND LOSS ACCOUNT OF AN IMAGINARY FIRM FOR FINANCIAL ACCOUNTING PRACTICAL

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    This document is a profit and loss account for a business from April 1, 2021. It shows an opening stock of Rs. 17,24,800, purchases of Rs. 3,67,000, and sales of Rs. 8,61,000, resulting in a gross profit of Rs. 5,29,000. It also lists various indirect expenses totaling Rs. 2,39,975 and indirect incomes of Rs. 1,52,700, resulting in a net profit of Rs. 4,41,725.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    14 views1 page

    Profit and Loss Account

    Uploaded by

    Nikhil Verma
    This document is a profit and loss account for a business from April 1, 2021. It shows an opening stock of Rs. 17,24,800, purchases of Rs. 3,67,000, and sales of Rs. 8,61,000, resulting in a gross profit of Rs. 5,29,000. It also lists various indirect expenses totaling Rs. 2,39,975 and indirect incomes of Rs. 1,52,700, resulting in a net profit of Rs. 4,41,725.

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    © All Rights Reserved
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    of 1

    ExamCXXXX

    Your Address,Your Phone &Mobile No.,Your Email ID

    Profit & Loss A/c


    For 1-Apr-21

    Particulars For 1-Apr-21 Particulars For 1-Apr-21

    Opening Stock 17,24,800.00 Sales Accounts 8,61,000.00


    Stock 17,24,800.00 Sales 8,61,000.00

    Purchase Accounts 3,67,000.00 Closing Stock 17,59,800.00


    Purchases 3,67,000.00 Stock 17,59,800.00

    Gross Profit c/o 5,29,000.00

    26,20,800.00 26,20,800.00

    Indirect Expenses 2,39,975.00 Gross Profit b/f 5,29,000.00


    Depriciation 59,375.00
    Discount Allowed 5,000.00 Indirect Incomes 1,52,700.00
    Electricity 10,000.00 Discount Received 2,700.00
    Insurance Premium 15,600.00 Profit on Sale 1,50,000.00
    Rent 60,000.00
    Salary 85,000.00
    Telephone 5,000.00

    Nett Profit 4,41,725.00

    Total 6,81,700.00 Total 6,81,700.00

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