From the following Trial Balance and Adjustments of Kumbhar and Maroti you are required to prepare Trading and Profit and Loss Account for the year ended on 31st March, 2005 and Balance Sheet as on that date. [March 2009]

Trial Balance as on 31^st March, 2005

Debit Balance	Rs.	Credit Balance	Rs.
Stock (1.4.2004) Salary and Wages Cash Purchases Sundry expenses Wages Bills Receivable Travelling Expenses Bad Debts Factory Expenses Commission Investments Debtors Tools and Equipments Furniture Goodwill Building	35000 4200 10000 225200 13600 12000 6000 2000 3000 8000 4000 20000 40000 6000 12000 21000 50000	Sales Discount Creditors Bank Overdraft Interest on Investment Capitals: Kumbhar Maroti	330000 4000 20000 10000 8000 60000 40000
	472000		472000

Adjustments

1.   Partners share Profits and Losses in the ratio of their capitals.

2.   Closing stock is valued at Cost Price Rs. 40,000 and at Market Price Rs. 45,000.

3.   Kumbhar has withdrawn goods worth Rs. 1,200 for his own use, but no entry is made in the books.

4.   Uninsured goods worth Rs. 12,000 were lost by fire.

5.   Rs. 450 is to be written off as bad debts.

6.   Unpaid expenses:

Salary and Wages Rs. 800

Rent Rs. 1,200

Depreciate building @ 7 ½ % p.a.

103000	70000	100800-68000	200800
GROSS PROFIT	NET PROFIT	PARTNERS CAPITAL ACCOUNT BALANCE	BALANCE SHEET TOTAL