From the following Trial Balance of Shyam and Sundar, You are required to prepare a Trading and Profit and Loss account for the year ended 31st December, 2002 and Balance sheet as on that date after taking into consideration the additional information. They share profits and losses in their capital ratio.

Trial Balance as on 31^st December, 2002

Particulars	Amounts	Particulars	Amounts
Drawings		Capital Accounts
Shyam	2000	Shyam	40000
Sundar	1000	Sundar	60000
Opening Stock	12000	Creditors	30000
Purchases	80000	Sales	140000
Office Salaries	6000	R.D.D.	1000
Royalties	2000	Return Outwards	2400
Trade Expenses	1400	Bills Payable	6000
Advertisement	5200	Reserve Fund	4000
Wages and Salaries	10400
Cash in Hand	8000
Debtors	50000
Bad Debts	400
Investments	16000
Motor Van	30000
Furniture	10000
Office Rent	3400
Plant & Machinery	24000
Freehold Property	16000
Bills Receivable	4000
Discount	1600
	283400		283400

Adjustments:

1.      Closing stock was valued at Rs. 17, 600

2.      Audit Fee for the year was outstanding Rs. 2, 400

3.      Create R.D.D at 5% on Debtors.

4.      The goods for Rs. 5, 600 purchased and received on 25^th December, 2002 were not recorded in the purchase book.

5.      Depreciate freehold property at 10% and Motor Van at 25%

In the books of M/s Shyam and Sundar

Trading Account for the year ended 31.12.2002

Particulars	Amt.	Amt.	Particulars	Amt.	Amt.
To Opening Stock		12000	By Sales		140000
To Purchases	80000
(-) Return	-2400
	77600
(+) Unrecorded Purchase	5600	83200
To Royalties		2000
To Wages & Salaries		10400
To Gross Profit C/d		50000	By Closing Stock		17600
		157600			157600

Profit and Loss Account for the year ended 31.12.2002

Particulars	Amt.	Amt.	Particulars	Amt.	Amt.
To Office Salaries		6000	By Gross Profit b/d		50000
To Trade Expenses		1400
To Advertisement		5200
To Office Rent		3400
To Discount Allowed		1600
To Bad Debts	400
(+) F.B.D.	-
(+) N.R.D.D.	2500
(-) O.R.D.D.	-1000	1900
To Outstanding Audit Fees		2400
To Depreciation
Freehold property	1600
Motor Van	7500	9100
To Net Profit C/d
Shyam	7600
Sundar	11400	19000
		50000			50000

Partners Current  Account

Particulars	Shyam	Sundar	Particulars	Shyam	Sundar
To Drawings	2000	1000	By Balance b/d	40000	60000
To Balance c/d	45600	70400	By Net Profit b/d	7600	11400
	47600	71400		47600	71400

Balance Sheet as on 31.12.1997

Liability	Amt.	Amt.	Assets	Amt.	Amt.
Capital A/c			Cash in Hand		8000
Shyam	45600		Debtors	50000
Sundar	70400	116000	(-) N.R.D.D.	-2500	47500
Creditors	30000		Investments		16000
(+) Unrecorded Purchase	5600	35600	Motor Van	30000
Bills Payable		6000	(-) Depreciation	7500	22500
Reserve Fund		4000	Furniture		10000
Outstanding Audit Fees		2400	Plant & machinery		24000
			Freehold Property	16000
			(-) Depreciation	-1600	14400
			Bills Receivable		4000
			Closing Stock		17600
		164000			164000