From the following Trial balance of M/s Sanjay and Vijay, you are required to prepare Trading and Profit and Loss account for the year ended on 31st March, 2010 and Balance Sheet as on that date after taking into consideration the additional information given below. [March 2011]


Trial balance as on 31st March, 2010
Particulars
Debit balances
Credit balances
Sundry debtors and creditors
Bills Receivable and Bills Payable
Purchases and sales
Return inward
Salaries and Wages
Carriage outward
Insurance premium
Postage and Telegram
Plant and machinery
Advertisement
Import duty
Bad debts
Printing and stationery
Cash in Hand
Leasehold premises
Opening stock
Dividend received
Outstanding Audit fees
10% bank Loan (Taken on 1.10.09)
Capital : Sanjay
Vijay
45800
28200
98500
2000
26000
1800
2200
1750
70000
3000
2100
1000
2400
1850
80000
12000
72700
40000
110000













1500
4400
60000
45000
45000
378600
378600
Additional information:
1.      Closing stock was valued at Rs. 25000
2.      Unused Postage Stamps of Rs. 250
3.      Uninsured goods worth Rs. 8000 were stolen from the godown.
4.      Leasehold property is to be run for 10 years w.e.f. 1. 10. 2009.
5.      Depreciate Plant and Machinery at 10% p.a.
6.      Our customer Mr. Ajay Became insolvent and could not pay his debts of Rs. 2000.

28400
-32000
29000-29000
238100
GROSS PROFIT
NET PROFIT
PARTNERS CAPITAL ACCOUNT BALANCE
BALANCE SHEET TOTAL

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