Preparation of Trading, Profit & Loss Account, and Balance Sheet

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Questions and Answers

What is the Gross Profit for the year ended 31st March, 2014?

  • Rs. 11,400
  • Rs. 8,400
  • Rs. 10,660 (correct)
  • Rs. 9,000

What is the total of Bills Receivable and Debtors on the Balance Sheet?

  • Rs. 9,000 (correct)
  • Rs. 7,000
  • Rs. 6,000
  • Rs. 8,000

What is the Net Profit for the year ended 31st March, 2014?

  • Rs. 8,400 (correct)
  • Rs. 9,000
  • Rs. 10,660
  • Rs. 7,800

What is the total of Creditors on the Balance Sheet?

<p>Rs. 2,500 (D)</p> Signup and view all the answers

What is the total of Machinery and Furniture on the Balance Sheet?

<p>Rs. 4,600 (C)</p> Signup and view all the answers

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