Stakeholders in Commercial Organisations
Distinction Between Stakeholders and Customers
Internal and External Stakeholders
Expectations of Stakeholders – Employers (Owners and Managers), Employees, Associates, and the General Public
Product and Service
Advertising and Sales Promotion
Sales and the Selling Process
Finance and Accounting
Capital and Revenue
Final Accounts of a Sole Trader
Fundamental Concept of Cost (Direct, Variable, Etc.)
Sources of Finance
Recruitment, Selection and Training
Simple Understanding of Industrial Relations
Logistics and Insurance
Striving for a Better Environment
Financial Fraudulent Practices
Meaning and Types
Interpersonal Skills in Communication
- Meaning and preparation of Trading account, Profit and Loss account and Balance sheet based on the given trial balance with the adjustment of closing stock only.
- Preparation of manufacturing account, profit and loss on sale of assets, intangible and fictitious assets, prepaid and accrued expenses and incomes are excluded.
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Related QuestionsVIEW ALL 
The result of the trading account is the ______ and it is transferred to the Profit and Loss account.
Use the following Trial Balance to complete the Final Accounts of Ms K. Pant for the year ending March 31, 2021.
|Plant and Machinery||1,60,000|
|Cash in Hand||30,000|
Closing Stock was valued at Rs. 1,00,000.
Trading Account of Ms K.Pant for the year ending March 31, 2021
|To Purchases 2,75,000||By Sales 4,40,000|
(i) (-) ______
|2,61,000||(-) Sales Return 20,000||42,0000|
|To Wages||80,000||By Closing Stock||1,00,000|
|To Opening Stock||45,000|
|(ii) ______||(ii) ______|
|To Gross Profit transferred to Profit and Loss Account||(iii) ______|
Profit and Loss Account of Ms K. Pant for the year ending March 31, 2021
|To Salaries||60,000||By Gross Profit||(iii) ______|
|To Bad Debts||10,000|
|To Net Profit transferred to Balance Sheet||(iv) ______|
Balance Sheet of Ms K.Pant as of March 31, 2021
|(v) ______||Plant and machinery||1,60,000|
|(-) Drawing 40,000||Debtors||1,40,000|
|(+) Net Profit (iv) ______||3,44,000||Cash in Hand||30,000|
|(vi) ______||(vi) ______|
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