From the following particulars furnished by Mr. Wye, prepare his Trading and Profit & Loss Account for the year ended on 31 st March, 2025. Also…

In the Books of Mr. Wye Trading Account for the year ended 31 st March, 2025 Particulars Amount ₹ Particulars Amount ₹ To Opening Stock 3,21,600 By Sales (Gross) 28,72,400 To Purchases (Net) (WN - 2) (₹ 41,200 +23,20,000 -16000) 23,45,200 By Less: Sales Returns (58, 000) 28,14,400 To Gross Profit c/d (bal. fig) 5,92,400 By Closing Stock 4,44,800 32,59,200 32,59,200 Profit & Loss Account for the year ended 31 st March, 2025 Particulars Amount Particulars Amount To Expenses (net of o/s adj.) (WN.5) 3,72,000 By Gross Profit b/d 5,92,400 To Depreciation on Fixed Assets (WN.4) 1,10,000 By Discount Received 28,000 To Bad Debts 16,800 To Discount allowed to Debtors (WN - 1) 60,000 To Net Profit transferred to Capital A/c 61,600 6,20,400 6,20,400 Balance Sheet as at 31 st March, 2025 Particulars Amount Particulars Amount Wye’s capital Fixed assets (incl. machinery) 4,81,600 Opening (WN - 3) 10,70,800 Stock-in-hand 4,44,800 Add: Net Profit 61,600 Sundry debtors (WN - 1) 7,14,800 Capital introduced 3,40,000 Cash-in-hand 48,000 Less: Drawings (17, 200) Cash at bank 2,75,200 Capital (closing) 14,55,200 Creditors 4,96,000 Expenses outstanding 13,200 19,64,400 19,64,400 Working Notes: 1. Sundry Debtors Account Particulars ₹ Particulars ₹ To Balance b/d 6,61,200 By Cash A/c 25,00,000 To Sales A/c (₹ 28,72,400 -1,84,000) 26,88,400 By Discount Allowed A/c (₹ 25,60,000 -25,00,000) 60,000 By Bad Debts A/c 16,800 By Return Inwards A/c 58,000 By Balance c/d (Bal. fig) 7,14,800 33,49,600 33,49,600 2. Sundry Creditors Account (Calculation of Purchases on Credit) Particulars ₹ Particulars ₹ To Bank A/c 24,10,800 To Balance b/d 6,30,800 To Discount Recd. A/c 28,000 By Purchases A/c (Bal fig) 23,20,000 To Returns to Creditors A/c 16,000 To Balance c/d 4,96,000 29,50,800 29,50,800 3. Balance Sheet as on 1 st April, 2024 Liabilities Amount (₹) Assets Amount (₹) Opening Capital (bal. fig) 10,70,800 Fixed assets (incl. machinery) 4,64,400 Creditors 6,30,800 Stock in hand 3,21,600 Expenses outstanding 24,000 Sundry debtors 6,61,200 Cash in hand 1,18,400 Cash at bank 1,60,000 17,25,600 17,25,600 4. Fixed Assets A/c Particulars ₹ Particulars ₹ To Balance b/d 4,64,400 By Depreciation A/c (Bal fig) 1,10,000 To Bank A/c 1,27,200 By Balance c/d 4,81,600 5,91,600 5,91,600 5. Expenses Payable A/c Particulars ₹ Particulars ₹ To Bank A/c 3,82,800 To Balance b/d 24,000 To Balance c/d 13,200 By Profit & Loss A/c (Bal Fig) 3,72,000 3,96,000 3,96,000 Note: The calculations in Working Notes1to 5 can also be presented in a statement format.