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Total 7925 7925: EXP INC

The trial balance of Gandhari for January shows total debits of Rs. 7925 and total credits of Rs. 7925. The profit and loss account of G&T for the year shows total expenses of Rs. 33800 and total income of Rs. 33800. The balance sheet of G&T as of 31.3 shows total liabilities of Rs. 16300 and total assets of Rs. 16300. The profit and loss account of the company shows total expenses of Rs. 1130000 and total income of Rs. 1130000. The balance sheet shows total liabilities of Rs. 1063750 and total assets of Rs. 1063750.

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Abhi Harpal
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24 views6 pages

Total 7925 7925: EXP INC

The trial balance of Gandhari for January shows total debits of Rs. 7925 and total credits of Rs. 7925. The profit and loss account of G&T for the year shows total expenses of Rs. 33800 and total income of Rs. 33800. The balance sheet of G&T as of 31.3 shows total liabilities of Rs. 16300 and total assets of Rs. 16300. The profit and loss account of the company shows total expenses of Rs. 1130000 and total income of Rs. 1130000. The balance sheet shows total liabilities of Rs. 1063750 and total assets of Rs. 1063750.

Uploaded by

Abhi Harpal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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TRIAL BALANCE OF GANDHARI FOR THE MONTH OF JANUARY

PARTICULARS DEBIT (RS) CREDIT (RS)


CASH 5825 ASSET ANYTHING WITH DR BALANCE - EXP OR AS
GANDHARI CAPITAL 7500 LIA ANYTHING WITH CR BALANCE - INC OR LIA
PURCHASES 1600 EXP
DISCOUNT RECEIVED 60 INC
FURNITURE 300 ASSET
MURARI 250 LIAB
SALES 115 INC
BAD DEBTS 50 EXP
MISC EXP 50 EXP
DRAWINGS 100 LIABILITY WITH -VE SIGN
TOTAL 7925 7925
G WITH DR BALANCE - EXP OR ASSET
G WITH CR BALANCE - INC OR LIAB
PROFIT AND LOSS ACCOUNT OF G&T FOR THE YEAR ….
EXPENSES Adj entries AMT INCOME Adj entries
WAGES 10000 SALES
LESS: P/P WAGES -400 9600
PURCHASES 19000 NET LOSS C/F
OPENING STOCK 4000
LESS: CLOSING STOCK -1200 21800
TRAVEL EXP 300
SALARIES 400
RENT & TAXES 900
ADD: O/S RENT 100 1000
DEP ON MCHY (10% OF 7000) 700
TOTAL 33800 TOTAL

BALANCE SHEET OF G&T AS ON 31.3.XXXX


LIABILITIES Adj entries AMT ASSETS Adj entries
CAPITAL 20000 SUNDRY DEBTORS
LESS: DRAWINGS -1800 MACHINERY 7000
LESS: NET LOSS -4800 13400 LESS: DEP -700
SUNDRY CREDITORS 2800 BANK BALANCE
O/S RENT & TAX 100 CLOSING STOCK
P/P WAGES
TOTAL 16300 TOTAL
AMT
29000

4800

33800

AMT
5400

6300
3000
1200
400
16300
PROFIT AND LOSS ACCOUNT
EXPENSES Adj entries AMT INCOME Adj entries
Salaries 100000 Commission earned
Worker wages 500000 NET PROFIT C/F
Electri. Chargs. 300000
Jobwork charges 50000
Depriciation 110000
Income tax 20000
P/P salary -50000
Given loan 100000

Total 1130000 Total

BALANCE SHEET
LIABILITIES Adj entries AMT ASSETS Adj entries
Bank loan 600000 Building
O/S Salary 750 Cash
Share Capital 233000 Furniture
Karan railings 40000 Veer Sagar Ltd
Given loan 100000 Depriciation
Income tax 20000 P/P salary
NET PROFIT C/F 70000

TOTAL 1063750 TOTAL


AMT
1200000
70000

1130000

AMT
1000000
1750
100000
22000
-110000
50000 1063750
233000 403000
830750 660750
760750
1063750

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