The following balances are extracted from the books of John Trading Co on 31st December 2015.

| February 25, 2017

Question
The following balances are extracted from the books of John Trading Co on 31st December 2015.

Date: (50 marks)

Opening Stock

5,000

Commission received

2,000

B/R

22,500

Return Outward

2,500

Purchases

1,95,000

Trade Expenses

1,000

Wages

14,000

Office furniture

5,000

Insurance

5,500

Cash in hand

2,500

Sundry Debtors

1,50,000

Cash at bank

23,750

Carriage Inwards

4,000

Rent and Taxes

5,500

Commission Paid

4,000

Carriage Outward

7,250

Interest on Capital

3,500

Sales

2,50,000

Stationery

2,250

Bills Payable

15,000

Return Inwards

6,500

Creditors

98,250

Capital

89,500

The closing stock was valued at Rs.1, 25,000

You are required to prepare

Trail Balance (15 Marks)
Profit and loss account (15 Marks)
Balance sheet(20 Marks)

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