Workflow practice
Final Accounts Practice
Practice finding Gross Profit, Net Profit, Adjusted Capital, and Balance Sheet totals.
Read the trial balance and adjustments, then calculate the key final accounts results step by step.
Case
Basic Trading and P&L with Gross Profit and Net Profit
Trial Balance balances
Capital A/c Cr Rs.50000 Cash A/c Dr Rs.10000 Purchases A/c Dr Rs.20000 Sales A/c Cr Rs.40000 Wages A/c Dr Rs.5000 Rent A/c Dr Rs.3000 Commission Received A/c Cr Rs.2000 Debtors A/c Dr Rs.8000 Creditors A/c Cr Rs.6000 Furniture A/c Dr Rs.15000 Drawings A/c Dr Rs.5000 Bank A/c Dr Rs.32000
Adjustments
No adjustments.
Question
Find the key final accounts results
Do not prepare the full statements. Enter the summary values only.