Format of Balance Sheet as per Permanency Order Part 2

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Balance Sheet of M/s ……….. As on …………..

Table of Format of Balance Sheet as Per Permanency Order: Balance Sheet of M/S ……….. As on …………..
Title: Table of Format of Balance Sheet as per Permanency Order: Balance Sheet of M/s ……….. As on …………..

Liabilities

Amount (Rs.)

Assets

Amount (Rs.)

Capital ××××

Add : Net profit ××××

Less: Drawings ××××

Loans

Sundry Creditors

Bills payable

Outstanding expenses

Bank overdrafts

××××

××××

××××

××××

××××

××××

Good Will

Land & Buildings

Plant & Machinery

Furniture

Investments

Closing Stock

Sundry Debtors

Bills Receivables

Investments (short term)

Prepaid expenses

Cash at bank

Cash in hand

××××

××××

××××

××××

××××

××××

××××

××××

××××

××××

××××

××××

××××

××××

Example:

From the following Trial Balance of M/s Vikram Brothers prepare Trading and Profit and Loss Account for the year ended 31st March 2006 and Balance Sheet as on that date.

Table of from the Following Trial Balance of M/S Vikram Brothers Prepare Trading and Profit and Loss Account for the Year Ended 31st March 2006 and Balance Sheet as on That Date.
Title: table of From the following Trial Balance of M/s Vikram Brothers prepare Trading and Profit and Loss Account for the year ended 31st March 2006 and Balance Sheet as on that date.

Particulars

Dr. Balances

(Rs.)

Particulars

Cr. Balances (Rs.)

Cash in hand

Motor car

Drawings

Legal Charges

Plant & Machinery

Investments

Opening stock

Sales Returns

Salaries

Discount Allowed

Carriage Inward

Wages

Postage

Debtors

Interest

Insurance Premium

Purchases

500

25000

48000

1500

60000

40000

35000

2500

12000

600

1800

21000

400

60000

1500

1200

80000

Capital

Discount Received

Sales

Creditors

Interest on investment

Purchases Return

Bills payable

70000

2000

230000

46000

5200

3800

34000

3,91,000

3,91,000

Closing stock as on 31.3.2006 Rs. 28,000.

Solution:

Trading A/c for the year ending on 31st March, 2006

Dr. Cr.

Table of Trading a/C for the Year Ending on 31st March, 2006
Title: Table of Trading A/c for the year ending on 31st March, 2006

Particulars

Amount (Rs.)

Particulars

Amount (Rs.)

Opening Stock

Purchases 80,000

Less Purchase Returns 3,800

Wages

Carriage Inward

Gross Profit transferred to Profit and Loss A/c

35000

76200

21000

1800

1,21,500

Sales 2,30,000

Less Sales Returns 2,500

Closing Stock

2,27,500

28,000

2,25,500

2,25,500

Profit & Loss A/c for the year ending on 31st March, 2006

Dr. Cr.

Table of Profit & Loss a/C for the Year Ending on 31st March, 2006
Title: Table of Profit & Loss A/c for the year ending on 31st March, 2006

Particulars

Amount (Rs.)

Particulars

Amount (Rs.)

Salaries

Insurance Premium

Discount Allowed

Postage

Interest

Legal Charges

Net Profit Transferred to

Capital A/c

12000

1200

600

400

1500

1500

1,11,500

Gross Profit b/d

Discount Received

Interest on Investments

1,21,500

2,000

5,200

1,28,700

1,28,700

Balance Sheet as on 31st March, 2006

Dr. Cr.

Table of Balance Sheet as on 31st March, 2006
Title: Table of Balance Sheet as on 31st March, 2006

Liabilities

Amount (Rs.)

Assets

Amount (Rs.)

Bills Payable

Capital 70,000

Add Net Profit 1,11,500

1,81,500

Less Drawings 48,000

Creditors

34000

133500

46000

Cash in hand

Debtors

Closing Stock

Investments

Motor car

Plant & Machinery

500

60000

28000

40000

25000

60000

2,13,500

2,13,500

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