The following is the trial balance of Alfa Ltd., for the year ended June 30, 2005 DetailsAmountRsDetailsAmountRsLand and Buildings3,00,000Sundry Creditors40,000Plant and Machinery4,50,000Bills Payable20,000Furniture and Fittings40,000General Reserve2,00,000Goodwill60,000Profit and Loss Account Balance (on 1.7.04)90,000Sundry Debtors60,000Sales6,25,000Bills Receivable26,000Purchase Returns15,000Investments (5% Govt. Securities)30,000Equity Share Capital5,00,000Cash in Hand2,0008% Preference Share Capital2,00,000Cash at Bank55,000 Preliminary Expenses29,000 Purchases4,00,000 Sales Return10,000 Stock on 1-7-0485,000 Wages47,000 Salaries55,000 Rent, rates and taxes9,000 Carriage Inwards6,500 Law Charges2,500 Trade Expenses23,000 16,90,000 16,90,000 Prepare the Profit and Loss Account and Balance Sheet of the company after taking the following particulars into consideration: a) The original cost of land and building plant and machinery and furniture and fittings was Rs 2,50,000, Rs 6,00,000 and Rs 60,000 respectively. Additions during the year were: Building Rs 50,000 and Plant Rs 20,000.b) Depreciation is to be charged on plant and machinery and furniture and fitting at 10 per cent on original cost.c) Of the sundry debtors, Rs 10,000 is outstanding for a period exceeding 6 months, Rs 5,000 are considered doubtful, while the others are considered good.d) The directors are entitled to a commission at 1 percent of the net profits before charging such commission.e) Stock on 30th June, 2005 is Rs 1,30,000.f) Provide Rs 34,800 for income tax