From the following Trial Balance and other information prepare Trading and Profit and Loss Account for the year ended 31st March 2016 and Balance Sheet as at that date. Sundry Debtors ₹ 32,000

From the following Trial Balance and other information prepare Trading and Profit and Loss Account for the year ended 31st March 2016 and Balance Sheet as at that date.

Heads of Accounts	Debit (₹)	Credit (₹)
Sundry Debtors	32,000
Stock (1st April 2015)	22,000
Cash in Hand	35
Cash at Bank	1,545
Plant and Machinery	17,500
Sundry Creditors		10,650
Trade Expenses	1,075
Sales		1,34,500
Salaries	2,225
Carriage Outwards	400
Rent	900
Bills Payable		7,500
Purchases	1,18,870
Discounts	1,100
Premises	34,500
Capital (1st April 2015)		79,500
	2,32,150	2,32,150

Additional Information: Stock on 31st March 2016 was ₹ 12,450. Rent was unpaid to the extent of ₹ 85 and ₹ 150 were outstanding for Trade Expenses. ₹ 400 are to be written off as bad debts out of the above debtors, and 5% is to be provided for doubtful debts. Depreciate plant and machinery 10% and premises by 2%. Manager is entitled a commission of 5% on net profit after charging his commission. [Ans. Gross Profit ₹ 6,080; Net Loss ₹ 4,275; Balance Sheet Total ₹ 93,610.]