From the following Trial Balance of Lagna Hotel, prepare a Trading and Profit and Loss Account for the year ended 31.03.2003:

Adjustments: 1. Stock on 31.03.2003 was valued at 50,000. 2. Wages outstanding were 50,000. 3. Three months rent rates and taxes amounting to 12,320 was prepaid.

Transcribed Image Text:

Account Debit (*) Credit (*) Guest Ledger Balances: Mr. Jackson Mr. Vemon Mr. John Ms. D'souza Mr. Batliboi Supplier's Ledger Balances 10,000 5000 2500 10,000 15,980 Yadav Stores 20,000 Thomson 10,000 Wages 41,940 Salaries 48,280 Repairs and Renewals 6360 Discount Received 2640 Sales 3,70,100 Printing and Stationery 3260 Rent, Rates and Fares 1,22,320 Sundry Expenses 1920 Commission 3920 Capital 1,44,000 Stock 31,440