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From the following Trial Balance of Mr. Kannan as on Mar 31, 2009 and additional information given, prepare the Trading and Profit and Loss Account for the year ended on Mar 31, 2009 and a Balance Sheet on that date:
Particulars
Debit Balance Rs
Credit Balance Rs
Opening Stock
12,500
-
Capital
1,12,500
Debtors and Creditors
15,000
8,750
Purchases and Sales
1,00,000
1,75,000
Returns
3,750
2,500
Carriage
2,000
Wages and Salaries
6,250
Commission
3,250
Machinery
20,000
Furniture
5,000
Bad Debts
Provision for Doubtful Debts
Bills Receivable/Bills Payable
7,500
1,750
Land and Buildings
Taxes and Insurance
4,250
Discount Allowed
3,000
Bank
Drawings
3,06,250
Additional Information
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