Bose has supplied the following information about his business to Summary of Cash book for the year ended 31st March, 2004 is as follows :
| Assets and Liabilities |
On 1st April 2003
(Rs.) |
On 31st March, 2004
(Rs.) |
Sundry debtors
Stock
Machinery
Furniture
Sundry creditors |
1,81,000
1,50,000
2,50,000
40,000
1,10,000 |
1,93,000
1,40,000
?
?
1,25,000 |
| Receipts |
Rs. |
Payments |
Rs. |
To Opening balance
To Cash sales
To Receipt from debtors
To Misc. receipts
To Loan from Dass @ 9%
per annum (taken on 1.10.2003) |
5,000
61,000
7,53,000
2,000
1,00,000 |
By Payments to creditors
By wages
By Salaries
By Drawings
By Sunday office expenses
By Machinery purchased (on 1.10.2003)
By Closing balance |
3,50,000
1,60,000
1,50,000
40,000
1,10,000
95,000
16,000 |
|
9,21,000 |
|
9,21,000 |
Discount allowed totaled Rs.7,000 and discount received was Rs.4,000. Bad debts written off were Rs.8,000. Depreciation was written off on furniture @5% per annum and machinery @10% per annum under the straight line method of depreciation. The office expenses included Rs.5,000 paid as insurance premiumfor the year ending 30th June, 2004. Wages amounting to Rs.20,000 were still due on 31st March, 2004.
Prepare trading and profit and loss account for the year ended 31sl March, 2004 and the balance sheet as on that date. |
