Prepare Trading and Profit and Loss Account and Balance Sheet as at 31st March, 2023 from the following Balances of Mr. Sardari Lal:

Prepare Trading and Profit and Loss Account and Balance Sheet as at 31st March, 2023 from the following Balances of Mr. Sardari Lal:

Particulars	₹	Particulars	₹
Capital Account	41,000	Drawings	5,000
Creditors – Trade	30,000	Purchases	1,71,000
Creditors – Expenses	6,800	Carriage Inwards	1,500
Rent Received	600	Wages	23,000
Purchases Returns	4,000	Power	9,000
Sales	2,89,600	Rent and Insurance	19,900
Bad-debts Provision on 1s April, 2022	600	Salaries	34,400
Advertising Development	8,000	Discount Received	1,800
Goodwill	5,000	General Charges	8,600
Plant and Machinery	20,000	Sales Returns	600
Traveller’s Samples	2,700	Traveller’s Commission	2,890
Stock on 1-4-2022	32,000	Traveller’s Salaries	9,100
Debtors	14,600	Discount Allowed	5,000
Cash at Bank	2,000
Cash in Hand	110

Adjustments:- The Closing stock was ₹ 23,000 but there has been a loss by fire on 20th March, 2023, to the extent of ₹ 20,000, not covered by insurance. Depreciate Plant and Machinery by 10% and Traveller’s Samples by 33¹/3%. Increase the Bad-debts Provision to ₹ 2,000. Write 20% off Advertising Development Account. Annual premium on insurance expiring 1st June, 2023 was ₹ 1,200. Provide for Manager’s commission @ 5% on Net Profits after charging such Commission. [Ans. G.P. ₹ 99,500, Net Loss ₹ 3,690, B/S Total ₹ 69,110.]