From the following Trial Balance of SSS Limited, prepare the profit and loss account for the year ended 31st March 2017 and a Balance Sheet on that date: 

Trial Balance of SSS Limited as on 31st March 2017 

Additional Information:

1. Goods costing ₹ 5,000 were distributed as free samples during the year. Goods costing ₹ 45,000 were destroyed by accident and the insurance company has admitted a claim for ₹ 35,000. These transactions were not recorded in the accounts. 

2. Closing stock as physically verified on 31st March 2017 amounted to ₹ 50,000. 

3. Provide depreciation on land and building @ 2%, plant and machinery @ 20% and on furniture and fixtures @ 10% p.a. 

4. Make a provision for doubtful debtors @ 5%. 

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Particulars Land and building Plant and machinery Furniture and fixtures Purchases Sundry debtors Sales returns Opening stock Bad debts Salaries and wages Interest on bank overdraft Advertisement Annual fire insurance premium (with effect from May 01, 2016) Investments (8% p.a.) Discount allowed General expenses Cash at bank Debit (2) 37,321,250 Particulars Equity share capital (Face value 10 each) 68,712,000 Sundry creditors 29,141,250 Sales 68,712,000 12% Debentures 18,405,000 Purchases returns 2,249,500 Discount received 4,908,000 Reserves and surplus 1,942,750 Bank overdraft 52,147,500 3,067,500 12,270,000 1,840,500 20,450,000 1,227,000 5,521,500 2,045,000 329,960,750 Credit (2) 51,125,000 15,337,500 165,133,750 28,630,000 5,010,250 2,147,250 31,902,000 30,675,000 329,960,750