From the following Trial Balance Extracted from the Rehman and Sons,?

Question

Prepare a Profit and Loss Account for the year ended 31-12-2006 Particulars and a Balance Sheet as at that date
Debit
Rs. Credit
Rs.
Sales 204,000
Capital 120,000
Bank over Draft 103,560
Sundry Creditors 120,000
Stock 1.1.2006 60,400
Purchases 231,600
Sundry Debtors 109,660
Returns Inward 3,640
General Expenses 6,980
Plant 22,620
Wages & Salaries 16,740
Building 50,000
Cash in Hand 680
Cash at Bank 8,720
Drawings 16,960
Motive Power 2,300
Dock & Clearing Charges 1,300
Coal, Gas, Water 1,700
Salaries 9,820
Interest on Over Draft 4,440

Closing Stock has been valued at Rs. 40,000

Answer 1

Profit and loss account
Sales 204,000
less Returns Inward 3,640
Net sales 200,360
less
COGS:
Stock 1.1.2006 60,400
Purchases 231,600
Closing Stock 40,000
Gross loss (51,640)
less
Operating expenses:
General Expenses 6,980
Wages & Salaries 16,740
Motive Power 2,300
Dock & Clearing Charges 1,300
Coal, Gas, Water 1,700
Salaries 9,820
Interest on Over Draft 4,440
Net loss (94,920)

Balance Sheet
Non-current assets
Plant 22,620
Building 50,000
Current assets
Stock 40,000
Sundry Debtors 109,660
Cash in Hand 680
Cash at Bank 8,720
Total Assets 231,680

Liabilities
Sundry Creditors 120,000
Bank over Draft 103,560
Equity
Capital 120,000
less Drawings (16,960)
Net loss (94,920)
Total Liabilities & Equity 231,680

Answer 2

well sendy did almost right but just few mistakes

so here i'm editing it.

Profit and loss account
Sales 204,000
less Returns Inward 3,640
Net sales 200,360
less COGS:
Stock [1.1.2006] 60,400
Purchases 231,600
Wages & Salaries 16,740
Closing Stock 40,000
Gross loss (68380)

Add Operating expenses:
General Expenses 6,980
Motive Power 2,300
Dock & Clearing Charges 1,300
Coal, Gas, Water 1,700
Salaries 9,820
Interest on Over Draft 4,440
Net loss (94,920)

Balance Sheet
Non-current assets
Plant 22,620
Building 50,000
Current assets
Stock 40,000
Sundry Debtors 109,660
Cash in Hand 680
Cash at Bank 8,720
Total Assets 231,680

Liabilities
Sundry Creditors 120,000
Bank over Draft 103,560
Equity
Capital 120,000
less Drawings (16,960)
Net loss (94,920)
Total Liabilities & Equity 231,680

Answer 3

No offense, but I don't think anyone here wants to do your homework for you. Especially a problem that long.