The following is the Trial balance of Amit Ltd., as at March 31, 2013:

Prepare profit and loss account for the year ended 31st March, 2013 and balance sheet as at that date after considering the following adjustments:
(i) Stock on 31st March 2013 was valued at ₹840 lakh.
(ii) Make a provision for income tax @ 35 per cent.
(iii) Transfer ₹10 lakh to the Development rebate reserve account on March 31, 2013.
(iv) Create debenture redemption reserve of ₹100 lakh.
(v) Depreciate plant and machinery @ 10 per cent, furniture & fittings @ 10 per cent and patents and trade marks @ 5 per cent.
(vi) On March 31, 2013, outstanding rent amounted to ₹4 lakh while outstanding salaries totaled ₹4.5 lakh.
(vii) Sundry debtors include outstanding ₹25 lakh for more than six months and make a provision for doubtful debts amounting to ₹15 lakh.
(viii) The directors proposed a dividend @ 15 per cent per annum for the year ended March 31, 2010 after transfer of 5 per cent to general reserve.
(ix) Provide for managerial remuneration of ₹45.18 lakh.

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Particulars Stock (April 1, 2009) Purchases and sales Discount Furniture and fittings Rent Share capital 5 lakh shares @ 100 each) Plant and machinery General reserve Bills receivable Bills payable Profit and loss A/c (March 31, 2012) 10% Debentures Debenture interest Dr. 375 1,225 - 85 20 145 25 - 250 Cr. 1,700 15 - 500 Sundry expenses Interim dividend Debtors and creditors Cash at bank 77.5 Patents and trade marks 35 Particulars 75 2,500 Purchases return Wages Carriage on purchases Salaries Development rebate reserve Investments (Amount in lakh) Dr. - 150 2.75 37.5 45.25 45 137.5 251 24 2,250 5,068 Cr. 50.0 87.5 28.0 5,068.0