Trial Balance of Mr. X as on 31st March, 2007 is given below. You are required to prepare Trading and Profit and Loss Account for the year ended 31st March, 2007 and Balance Sheet as on that date after taking into account the given adjustment

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Trial Balance as on 31st March, 2007 Particulars Amt. Particulars Amt. (Rs.) (Rs.) Purchases 98,000 Capital: Patents Right 4,000 Ashok 30,000 Building 1,00,000 Tanaji 40,000 Stock (1.04.2006) 15,000 Provident Fund 7,000 Printing and 1,750 Creditors 45,000 Stationery Sundry Debtors 35,000 10% Bank Loan 12,000 taken on Wages and 11,000 1st April 2006 Salaries Audit Fees 700 Sales 1,58,000 Sundry Expenses 3,500 Reserve for 250 Doubtful Debts Furniture 8,000 Purchase 3,500 Returns Trial Balance as on 31st March, 2007 Particulars Amt. Particulars Amt. (Rs.) (Rs.) Purchases 98,000 Capital: Patents Right 4,000 Ashok 30,000 Building 1,00,000 Tanaji 40,000 Stock (1.04.2006) 15,000 Provident Fund 7,000 Printing and 1,750 Creditors 45,000 Stationery Sundry Debtors 35,000 10% Bank Loan 12,000 taken on Wages and 11,000 1st April 2006 Salaries Audit Fees 700 Sales 1,58,000 Sundry Expenses 3,500 Reserve for 250 Doubtful Debts Furniture 8,000 Purchase 3,500 Returns Trial Balance as on 31st March, 2007 Particulars Amt. Particulars Amt. (Rs.) (Rs.) Purchases 98,000 Capital: Patents Right 4,000 Ashok 30,000 Building 1,00,000 Tanaji 40,000 Stock (1.04.2006) 15,000 Provident Fund 7,000 Printing and 1,750 Creditors 45,000 Stationery Sundry Debtors 35,000 10% Bank Loan 12,000 taken on Wages and 11,000 1st April 2006 Salaries Audit Fees 700 Sales 1,58,000 Sundry Expenses 3,500 Reserve for 250 Doubtful Debts Furniture 8,000 Purchase 3,500 Returns Trial Balance as on 31st March, 2007 Particulars Amt. Particulars Amt. (Rs.) (Rs.) Purchases 98,000 Capital: Patents Right 4,000 Ashok 30,000 Building 1,00,000 Tanaji 40,000 Stock (1.04.2006) 15,000 Provident Fund 7,000 Printing and 1,750 Creditors 45,000 Stationery Sundry Debtors 35,000 10% Bank Loan 12,000 taken on Wages and 11,000 1st April 2006 Salaries Audit Fees 700 Sales 1,58,000 Sundry Expenses 3,500 Reserve for 250 Doubtful Debts Furniture 8,000 Purchase 3,500 Returns

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1 Trading and Profit and Loss Account For the Year Ended 31st March 2007 Description Amount Amount Description Amount Amount To Opening Stock 15000 By ... View the full answer