Prepare the trading and profit and loss account and a balance sheet of M/s Shine Ltd. from the following particulars.

Adjustments 

1. Closing stock was valued Rs. 35,000.

2. Depreciation charged on furniture and fixture @ 5%.

3. Further bad debts Rs. 1,000. Make a provision for bad debts @ 5% on sundry debtors.

4. Depreciation charged on motor car @ 10%.

5. Interest on drawing @ 6%.

6. Rent, rates and taxes was outstanding Rs.200.

7. Discount on debtors 2%.

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Account Title Sundry debtors Bad debts Trade expenses Printing and Stationary Rent, Rates and Taxes Freight Sales return Motor car Opening stock Furniture and Fixture Purchases Drawings Investments Cash in hand Cash in bank Amount Rs. 1,00,000 3,000 2,500 5,000 3,450 2,250 6,000 25,000 75,550 15,500 75,000 13,560 65,500 36,000 53,000 4,81,310 Account Title Bills payable Sundry creditors Provision for bad debts Return outwards Capital Discount received Interest received Sales Amount Rs. 85,550 25,000 1,500 4,500 2,50,000 3,500 11,260 1,00,000 4,81,310