Ashok and Tanaji are Partners sharing Profits and Losses in the ratio 2:3 respectively. (20)

Trial Balance as on 31 ^st March, 2007 [March 2010]

Particulars	Amount Rs.	Particulars	Amount Rs.
Purchases Patents Right Building Stock (1.4.2006) Printing and Stationery Sundry Debtors Wages and Salaries Audit fees Sundry expenses Furniture 10% Investment(Purchased on 30.09.2006) Cash Provident Fund Contribution Carriage Inwards Travelling Expenses	98,000 4,000 1,00,000 15,000 1,750 35,000 11,000 700 3,500 8,000 10,000 4,000 800 1,300 2,700	Capitals : Ashok Tanaji Provident Fund Creditors Bank Loan Sales Reserve for Doubtful Debts Purchase Returns	30,000 40,000 7,000 45,000 12,000 1,58,000 250 3,500
	2,95,750		2,95,750

Adjustments :

1.    Closing stock is valued at the Cost of Rs.15,000 while its Market Price Rs.18,000.

2.    On 31^st March, 2007 the stock of stationery was Rs.500.

3.    Provide reserve for bad and doubtful debts at 5% on debtors.

4.    Depreciate building at 5% and patent rights at 10%.

5.    Interest on capitals is to be provided at 5% p.a.

6.    Goods worth Rs.10,000 were destroyed by fire.

7.    The Insurance company admitted a claim for Rs.8,000.

61200	40350	47640-66210	177850
GROSS PROFIT	NET PROFIT	PARTNERS CAPITAL ACCOUNT BALANCE	BALANCE SHEET TOTAL