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Chapter: 11th Accountancy : Final Accounts of Sole Proprietors - I

Illustration Problems with Solution - Accountancy: Final Accounts of Sole Proprietors

Accountancy : Final Accounts of Sole Proprietors - I

Illustration 11

From the following balances of Niruban, prepare balance sheet as on 31st December, 2017.


Solution


 

Illustration 12

From the following information, prepare trading and profit and loss account of Abdul Rahuman for the year ending 31st December, 2016 and balance sheet as on that date. The closing stock on 31st December, 2016 was valued at Rs.  2,000.


Solution



 

Illustration 13

From the following trial balance of Sharan, prepare trading and profit and loss account for the year ending 31st December, 2017 and balance sheet as on that date. The closing stock on 31st December, 2017 was valued at Rs.  2,50,000.


Solution



Tutorial note

Trading account and profit and loss account are prepared together. The first part is trading account, whereas the second part is profit and loss account.

 

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