Professional Documents
Culture Documents
Profit and Loss statement (P&L), is a financial report that shows a company's revenues and expenses
over a given period of time, Company time period between 1st January for every Year upto 31st March
for next Year.
Balance Sheet is a statement of the financial position of a business which states the assets, liabilities,
and owners' Capital at a particular point in time. In other words, the balance sheet illustrates business's
net worth.
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Prepared by – Manoj Sir (9818606913)
Closing stock Entry must be define with opening stock, so Press Esc Key for Ledger
screen and Press Enter on Alter (Single) then Press 5 times enter (insert closing date
e.g. 31-3-2019) and Fill Closing Stock amount (e.g. 7000) press 4 times enter for save
Gateway of Tally Account Info. Ledger (Multiple ledger) Alter 2 times enter
Enter Correct Amount or Group in wrong entry then. Press (ctrl + A) to save or accept changes
you change in ledger alter otherwise entry Not Save or Change.
Practical Example
Prepare the Trading & Profit and Loss A/C or Balance sheet as on 31stMar2018.
Practice Question
Q –1 Prepare the Trading A/c for the transaction given below calculate Gross Profit.
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Prepared by – Manoj Sir (9818606913)
Q-2 Prepare the Trading A/c for the transaction given below calculate Gross Profit.
Opening stock 9,000 Carriage on Purchase 3,000
Closing Stock 18,000 Factory rent 9,000
Purchase 10,00,000 Sales 7,00,000
Manufacture Exp. 10,000
Q-3 Prepare Trading & Profit and Loss A/c or Balance sheet.
Debit Balance
Machinery 2,500 Rent 450
Debtor 2,700 Carriage Outward 200
Drawing 900 Carriage 150
Purchase 9,500
Credit Balance
Wages 5,000 Capital A/c 10,000
Bank 1,500 Creditor 1,400
Stock 1, April 2,000 Sales 14,500
Furniture 1,000 Stock 31,March 300
Q-4 Prepare Trading & Profit and Loss A/c or Balance Sheet.
620
Sales 92,000 Postage & Telegram
Purchase 68,300 Sundry Expenses 900
Return inward 1,300 Bad debts 400
Return outward 2,200 Debtor 22,000
Stock opening 17,600 Creditor 12,800
Carriage inward 2,400 Loan (Cr) 5,000
Rent, rates & Taxes 2,200 Capital 52,500
Discount 3,750 Drawing 1,910
Printing 720 Business Premises 39,000
Insurance 500 Office furniture 1,500
Travelling expenses 1,400 Closing Stock 24,000
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Prepared by – Manoj Sir (9818606913)
Q –5 from the following data prepare Final A/c of Mr Karan Verma at the year 2017
Salary Rs 5,400, insurance Rs 2,500, cash Rs 400, Purchase Rs84170, Rent (Cr.) 3,150
Drawing Rs 2,100, B.P Rs 3,900, Debtor Rs 38,080, Stock Opening Rs 29,500, Bank overdraft Rs
9,700, Carriage Rs 2,200, Creditor Rs 4,200, Trade Exp Rs 4,900, Sales Return Rs 4,700,
Machinery Rs 12,000, Wages Rs 45,000, Sales Rs 1, 47,200, Purchase Return Rs 3,900, Capital Rs
58,900, Closing Stock Rs 36,200
(Ans. G.P 21,730, N.P 12,080, Balance Sheet 86,680)
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Q-6 Prepare Trading & Profit and Loss A/c or Balance Sheet.
Amount (Dr.) Amount (Cr.)
Debtor & Creditor 15,000 70,000
Opening Stock 50,000
Land & building 1,57,000
Capital & Drawing 20,000 2,50,000
Rent & Office Exp 25,000 6,000(Rent)
Cash in Hand 16,000
Cash at Bank 40,000
Wages 30,000
B/P & B/R 20,000 40,000
Bed debts 25,000
Interest 2,000
Repair & Renewal 3,000
Sales & Purchase 1,00,000 1,70,000
Furniture & Fixture 15,000
Depreciation 10,000
Rates & Taxes 8,000
Closing Stock 1,00,000
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