Livestock Economics, Marketing and Business Management

PROBLEM

• Prepare trading, Profit and loss accounts as on 30.06.2005 of the following:
  • Interest on Capital Rs.2000
  • Discount allowed Rs.1700
  • Commission Rs.2000
  • Salary Rs.100000
  • Opening Stock Rs.25000
  • Wages Rs.12000
  • Rent received Rs.5000
  • Depreciation on Building Rs.750
  • Depreciation on Furniture Rs.230
  • Discount received Rs.2300
  • Insurance Rs.1300
  • Sales of 190000
  • General expenses Rs.3500
  • Taxes Rs.1000
  • General Purchases Rs.115000
  • Purchase for Rs.5000
  • Provision for bad debit Rs.1800
  • Closing stock Rs.15000