10. From the following Trial Balance of Shivam Ltd prepare the Profit and Loss A/C and Balance Sheet for the year ended 31st March 2011. Additional information: - Inventory in hand on 31 March 2011 - Rs 2,97,360 - Provide depreciation on the fixed assets at the original cost at the following rates: - Plant and machinery 10%, Motor Vehicles 20%, Furniture 10%, Buildings 2% - Interest accrued on investments- R5 5,500 - Provision for doubtful debts to be made- 2% - Provision for tax for the current year to be made - Rs 1,20,000 - Salary for the month of March is outstanding - Rs 4,800 - General expense include insurance paid amounting to Rs 8,000 for the period from Jan 1,2011 to 31 December 2011 . - The board of directors has proposed transfer of Rs 50,000 to general reserves and a dividend on equity shares@4\%. 10. From the following Trial Balance of Shivam Ltd prepare the Profit and Loss A/C and Balance Sheet for the year ended 31st March 2011. Additional information: - Inventory in hand on 31 March 2011 - Rs 2,97,360 - Provide depreciation on the fixed assets at the original cost at the following rates: - Plant and machinery 10%, Motor Vehicles 20%, Furniture 10%, Buildings 2% - Interest accrued on investments- R5 5,500 - Provision for doubtful debts to be made- 2% - Provision for tax for the current year to be made - Rs 1,20,000 - Salary for the month of March is outstanding - Rs 4,800 - General expense include insurance paid amounting to Rs 8,000 for the period from Jan 1,2011 to 31 December 2011 . - The board of directors has proposed transfer of Rs 50,000 to general reserves and a dividend on equity shares@4\%