Q&A: plz help me in this accounts problem?

Question by Lucky: plz help me in this accounts problem?
prepare Profit & Loss account & BALANCE SHEET from the following figures:

A’s capital………..22880
A’s drawings…….1320
plant & machinery……9900
property…….6600
purchase……..11000
return outwards………110
salaries……….1320
office-expenses…..715
office furniture………..550
discount(Dr.)……132
debtors…………2926
loan to K@10% p.a.,balance on 1 April,2006….4400
cash at bank………….2926
bills payable………….550
stock on 1 April, 2006……..3850
wages………3520
creditors…….4400
gas&fuel…….297
bad debts………66
freight………….990
loose tools on 1st April,2006…….220
factory lights……….286
proviso for doubtful debts………88
interest on loan to k……110
cash in hand………..264
sales……..23144

adjustments
1)stock on 31 march,2007 was 7260
2)depreciation plant & machinery by (100/3)%, furniture by 10% property by 5%
3)loose tools valued 176 on 31 march,2007
4)of debtors,Rs.6 are bad & maintain
& maintain provision of 5% on debtors for doubtful debts.

plz tell me the gross profit, net profit and balance sheet fig.
i m having a problem in balance sheet
of 330 less in assets side, if there is any item of 330 which should come at the side plz tell me.

the G.P. is 10571
N.P. is 4985

Best answer:

Answer by Brien Private Finance
Hi, please do not post homework problems on this forum.

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