Prepare Profit and Loss Account for the year ending 31st December, 2008 from the following particulars:

Rs. Rs.

General expenses 1,200 Gross Profit 76,900 Charity 300 Carriage Outwards 2,000 Office Lighting 500 Office Expenses 1,600 Law Charges 580 Fire Insurance Premium 1,800 Advertisement 1,420 Telephone Expenses 750 Bank Charges 120 Sales Tax 600 Commission 700 Establishment Expenses 250 Rent, rates and Taxes 3,000 Miscellaneous Expenses 710 Interest on investment 1,200 Discount Received 620 Sundry Receipts 600 Traveler’s Salary 6,000 Indirect expenses 210 Repair 430 Printing and Stationery 150 Commissione (Cr.) 200