The following is the Trial Balance of Automatic Motors and Garage on March 31 2018:The following additional information is also given to you:

(a) The loan was taken on January 1, 2018 on which 12% interest is to be paid.

(b) Stock in hand on March 31, 2018 were as under

(i) Tools ₹5,000

(ii) Petrol and oil ₹4,300

(iii) Spare parts and tyres ₹10,000.

(c) Petrol and oil whose value were ₹15,600 and ₹1,800 were used by hired cars and the repairs department respectively. Besides, the owner of the garage drew petrol and oil worth ₹3,000 for his personal car.

(d) The repairs department performed work during the year as under: On owner’s car ₹600; On hire cars ₹7,500.

(e) Spare parts used by the repairs department in the year cost ₹4,000 and the hire cars ₹750.

(f) Depreciation on hire cars to be provided at 30% p.a.

(g) Licences and taxes amounting to ₹200 on owner’s car have been paid and included in rent, rates and taxes.

(h) Rent, rates and taxes to be distributed as under:

(i) Repairs department 1/2

(ii) Spare parts 1/4

(iii) Garage 1/8

(iv) Office 1/8

You are required to prepare a

(a) Department Trading Account

(b) Profit and Loss Account for the year ending March 31, 2018

(c) Balance Sheet as on that date.

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Opening Stock: Petrol and Oil Spare Parts and Tyres Tools Hire Cars Purchases: Particulars Tools Spare Parts and Tyres Petrol and Oil Advertising Expenses Rent, Rates and Taxes Insurance Premia: On Hire Cars Fire, theft and burglary cases Wages: Drivers Repairs Department Office Garage Dr. 1,675 5,500 2,200 72,000 4,000 32,000 41,250 4,500 12,000 4,000 425 12,000 16,500 7,500 1,000 Cr. Particulars Capital Account Drawings Sales: Petrol and Oil Spare Parts and Tyres Garage Receipts Repairs Department Hire Receipts Licence fees & permit fees for HireCars Office expenses Sundry Debtors Sundry Creditors Commission received on cars sold Loan Cash in hand and at bank Dr. 8,500 3,000 4,000 400 2,000 Cr. 76,250 23,000 37,000 4,000 14,000 70,000 1,200 5,000 4,000 2,34,450 2,34,450