The following information has been extracted from the trial balance of M/s Randhir Transport Corporation. Adjustments 1. Closing stock for the year was Rs. 35,500.

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The following information has been extracted from the trial balance of M/s Randhir Transport Corporation.

Adjustments 1. Closing stock for the year was Rs. 35,500.
2. Depreciation charged on plant and machinery 5% and land and building 6%.
3. Interest on drawing @ 6% and Interest on loan @ 5%.
4. Interest on investments @ 4%.
5. Further bad debts 2,500 and make provision for bad debts on debtors 5%.
6. Discount on debtors @ 2%.
7. Salary outstanding Rs. 200.
8. Wages outstanding Rs. 100.
9. Insurance prepaid Rs. 500.
You are required to make trading and profit and loss account and a balance sheet on March 31, 2005.

Debit balances Opening stock Rent Plant and Machinery Land and Buildings Power Purchases Sales return Telegram and Postage Wages Salary Insurance Discount Repair and Renewals Legal charges Trade taxes Debtors Investment Bad debts Trade expenses Commission Travelling expenses Drawings Amount Credit balances Rs. 40,000 2,000 1,20,000 2,55,000 3,500 75,000 2,500 400 4,500 2,500 3,200 1,000 2,000 700 1,200 75,000 65,000 2,000 4,500 1,250 1,230 20,020 6,82,500 Capital Creditors Bills payable Loan Discount Sales Provision for bad debts. General reserves Amount Rs. 2,70,000 50,000 50,000 1,10,000 1,500 1,50,000 1,000 50,000 6,82,500