Final accounts || Problem no 4

Описание: Also watch the following videos:
1.Meaning of final accounts:
   • final accounts class 11 tutorial in englis...  
2.About Trading a/c and Profit and loss a/c:
   • final accounts class 11 tutorial in englis...  
3.About balance sheet:
   • Final accounts -  Balance sheet, assets, l...  
4.Adjustment meaning :
   • final accounts with adjustments class 11 T...  
5.Bad debts:
   • bad debts adjustment by anjaneya kumar vemuri  
6.Provision for reserve on doubtful debts:
   • provision for bad debts by anjaneya kumar ...  
problem no 1:
   • final accounts problem no 1  
problem no 2:
   • final accounts 2nd problem  
problem no 3:
   • Final accounts || Problem no 3  

Question:

Problem no 4:
From the following trial balance of M/s Son’s Traders, prepare Trading , Profit & Loss a/c and Balance sheet for the year ended 31.3.2018:
Trial balance as on 31.03.2018
Debit Balances Amount Credit Balances Amount
Purchases 20,000 Sales 52,000
Salaries 5,000 Creditors 18,500
Wages 7,800 Capital 30,000
Buildings 24,000 Interest Received 2,000
Carriage on Purchases 400 Bills Payable 5,200
Gas, Coal & Water 200 Bank Overdraft 5,500
Office Expenses 600 Outstanding Rent 800
Commission 300
Debtors 25,000
Opening Stock 6,000
Machinery 12,000
Insurance 400
Bank Balance 4,000
Bills Receivable 2,000
Cash 1,300
Furniture 5,000
1,14,000 1,14,000
Adjustments:
1. Closing Stock : rs 7 9,000.
2. Outstanding Salaries : rs 1,000
3. Prepaid Insurance: rs 100.
4. Create 5% Provision for Bad Debts.
5. Depreciation on Furniture : rs 200 and on Machinery : rs 600.
6. Outstanding Wages : rs 1,200.