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Chapter-2
Profit & Loss with Balance Sheet
Q-1 Prepare Profit & Loss and Balance sheet
Rent 50,000 Stationery 900
Opening Stock 25,000 Discount 800
Furniture 45,000 Debtor 3,000
Sales 1,90,000 Return inward 8,000
Purchase 67,000 Purchase Return 2,000
Closing Stock 3,000 Wages 4,300
Creditor 12,000

Answer:
Gross Profit - 90,700 Net Profit - 39,000 Balance Sheet - 51,000
Q-2 Prepare Profit & Loss and Balance sheet
Opening Stock 90,000 Drawing 3,500
Capital 2,50,000 Building 5,38,500
Purchase 75,000 Debtor 34,000
Sales 4,50,000 Return Outward 4,000
Carriage 4,000 Rent Received 5,000
Dock Charges 3,000 Bills Payable 20,000
Creditor 19,000 Closing Stock 35,000
Answer:
Gross Profit - 3,17,000 Net Profit - 3,22,000 Balance Sheet - 6,07,500

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Prepared by – Manoj Sir

Q-3 Prepare Profit & Loss and Balance sheet

Opening Stock 70,000 Purchase Return 18,500
Fuel & Power 10,000 Discount 4,500
Wages 35,000 Bank 90,000
Office Insurance 4,000 Cash 34,000
Electric Bill 15,000 Return inward 15,000
Interest Received 60,000 Tools 7,00,500
Sales 8,50,000 Debtor 15,600
Purchase 3,40,000 Creditor 12,400
Capital 4,00,000 Closing Stock 50,000
Answer:
Gross Profit - 4,48,500 Net Profit - 4,85,000 Balance Sheet - 8,97,400
Q-4 Prepare Profit & Loss and Balance sheet
Opening Stock 3,40,000 Loan 2,40,000
Purchase 90,500 Bill Receivable 1,16,000
Sales 4,50,000 Plant 3,50,000
Carriage on Purchase 32,000 Bank overdraft 1,40,310
Repair 1,450 Sundry Creditor 6,700
Printing 1,900 Machinery 32,000
Telephone Bill 1,400 Interest 4,000
Bed Debts Received 900 Commission Received 7,340
Capital 2,30,000 Depreciation 9,000
Sundry Debtor 80,000 Factory Rent 12,000
Drawing 5,000 Closing Stock 90,000
Answer:
Gross
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65,500 Net Profit - 55,990
: www.selfadhyan.in Balance Sheet - 6,68,000