From the following balances of M/s Jyoti Exports, prepare trading and profit and loss account for the year ended March 31, 2006 and balance sheet as on this date.

Closing stock Rs.10,000.

1. To provision for bad debts is to be maintained at 5 per cent on sundry debtors.

2. Wages amounting to Rs.500 and salary amounting to Rs. 350 are outstanding.

3. Factory rent prepaid Rs. 100.

4. Depreciation charged on Plant and Machinery @ 5% and Building @ 10%.

5. Outstanding insurance Rs.100.

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Account Title Sundry Debtors Opening Stock Purchases Carriage Inwards Wages Office Rent Insurance Factory Rent Clearing Charges Salary Building Plant and Machinery Cash in Hand Gas and Water Octroi Furniture Patents Amt. (Rs.) Account Title 9,600 Sundry Creditors 22,800 Sales 34,800 Purchases Return 450 Bills Payable 1,770 Capital 820 1,440 390 940 1,590 24,000 3,600 2,160 240 60 20, 540 10,000 1, 35, 200 Amt. (Rs.) 2,500 72,670 2,430 15, 600 42,000 1, 35, 200