Mr. Radhe Mohan gives you the following Trial Balance as on 31st December, 2011: Receipts(Rs)Payments(Rs)Opening Stock22,000Capital1,00,000Purchases2,05,000Sales2,75,000Postage and Telegram360Bank Overdraft12,800Interest on Fixed Deposits3,200Provision for charity14,000Buildings60,000Provision for repairs10,000Charity2,800Accounts payable32,000Repairs2,500Fixed deposit20,000Household Expenses5,440Interest on bank deposits540Audit fee800Landlord A/c4,800Accounts receivable20,000Indirect expenses1,440Bank Deposit6,000Loose Tools8,000Salarie14,200Carriage4,500Cash in hand7,300Plant and furniture52,000Security Deposit28,000Personal Debts16,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,64,340––––––––––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,64,340–––––––––––––––––––– Adjustments : 1. Closing Stock was taken on 31st December, 2011 and was then valued at Rs 40,000. 2. Create provision for Doubtful Debts 5%. 3. Rent paid to Landlord was debited to his personal account. Prepare Trading and Profit and Loss Account for the year ended 31st Dec., 2011 and a Balance Sheet as on that date. Or From the following balances extracted from the books of Sharma, prepare the Trading and Profit & Loss Account for the year ended 31st March, 2012 and a Balance Sheet as on that date after taking into consideration the adjustments given below: TRIAL BALANCE (as on 31st March, 2011) Trial Balance ParticularsAmount (Rs)Amount (Rs)Drawings and Capital7,50050,000Purchases and Sales72,10095,000Returns1,3002,700Sundry Debtors and Creditors18,20035,750Stock (1st April, 2011)19,800−Bad Debts3,000−Bills Receivable and Payable12,00023,000Cash in Hand300−Office Expenses6,210−Sales Van Expenses15,000−Discount−2,910Rent and Taxes10,700−Telephone Charges1,050−Postage and Telegram950−Furniture5,000−Printing and Stationery2,750−Commission8,400−Carriage Inward3,200−Salaries and Wages220,500− ––––––––––––– –––––––––––––2,09,3602,09,360 Adjustments : (a) Closing Stock was valued at Rs 61,700. (b) Depreciate Furniture 10% and Sales Van 20%. (c) Outstanding Rent amounted to Rs 900. (d) Charge one-fourth of Salaries and Wages to Trading Account.