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20. From the following particulars, prepare Trading and Profit and Loss 
for the year ended 31st March 2001 and Balance Sheet as at that date : 

Addition on Information
PRTICULARS  Rs. Particulars  Rs. 
Stock on 1st April, 2000 27000 Rent @ 250 pm. 2750
Purchases 240000 Debtors 40000
Sales 310000 Creditors 21500
Returns (dr.) 7000 Cash in hand 18500
Returns(Cr.) 12000 Bank O.D 50450
Bad Debts 1500 Intrest on Bank OD 9500
Prov. On Bad Debts 4000 Building 150000
Investment @ 10 p.a 20000 Capital 318000
Interest on Investments 1500 Drawings 28000
Insurance 4800 Commission (Cr.) 6400
Prepaid Insurance 1200 Outstanding Wages 2000
Salaries (for 11 months) 6600 Goodwill 25000
Wages 24000 Advertising Development 20000
Plant and Machinery          80000      
Opening Balance      
Addition on 1st July 2000       20000 100000    
i. Stock was not taken on 31st March 2001 but only on 6th April 2001. It was 
then valued at Purchases and Sales between these two dates were e 16,000 and 12,000 respectively. Rate of gross profit included in these sales was 20% on cost. 
ii) A debtor for is also a creditor for e 7,500. 
iii) Create a provision for doubtful debts @ 5% on debtors and also provide 
3% for discount on debtors. 
(iv) Charge 20% p.a. depreciation on old machinery and 10% p.a. on addition 
during the year. Also depreciate Building by 10% p.a. 
V) Commission received in advance amounted to 800. 
vi) Write off 20% of Goodwill and Advertising Development. 
 
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