Question - 01

From the following Trial Balance of sujata traders prepare trading and profit and loss account for the year ending 31st Dec., 2000 and balance sheet on that date:

Capital (Cr.) Rs. 35,000
Cash Rs. 3,000
Bank Overdraft (Cr.) Rs. 4,000
Salaries Rs. 5,000
Purchases (Dr.) Rs. 24,000
Sales (Cr.) Rs. 20,000
Purchase returns (Cr.) Rs. 3,000
Sales Returns Rs. 2,000
Sundry Exp. Rs. 5,000
Tax and Insurance Rs. 1,000
Bad debts Rs. 1,000
Provision for B/D (Cr.) Rs. 2,000
Commission  (Cr.) Rs. 1,000
Goverment securities Rs. 4,000
Debtors Rs. 4,000
Opening stock Rs. 6,000
Drawing Rs. 7,800
Furniture Rs. 1,200
B/R Rs. 5,000
B/P (Cr.) Rs. 6,000.
Adjustments :
  1. Salaries Rs. 200 and Tax Rs. 400 are outstanding.
  2. Insurance is prepaid Rs. 50.
  3. Create provision for Bad debts Rs. 1,000.
  4. Depreciation on Furniture @ 10%.
  5. Closing stock valued Rs. 9,000.