19 3. Rohan and Roshan are partners in 'Shan Traders' sharing profits and losses in the ratio of 2:1. From the following Trial Balance and adjustments prepare Trading and Profit and Loss Account for the year ended 31st March, 2011 and Balance Sheet as on that date. Trial Balance as on 31st March, 2011 Debit Balances Amt. (Rs.) Credit Balances Amt. (Rs.) Opening stock 32,000 Sales 1,93,500 Purchases 64,000 Sundry Creditors 15,000 Plant and Machinery 30,000 Unpaid wages 1,500 Furniture 18,500 Return outward 2.500 Capital A/C Rohan 90,000 Carriage 1,500 Roshan 50,000 Wages and Salaries 35,000 Bills Receivable 5,000 Sundry Debtors 32,000 Conveyance 4,000 Rent, Rates and Taxes 2,000 Return inward 3,500 Cash in hand 14,750 Land and Building 83,500 Bad debts 1,750 Patents 25,000 3,52,500 3,52,500 Adjustments: 1) Closing stock: Cost price Rs. 25,000 and market price Rs. 30,000 2) An amount of Rs. 3,500 spent for repairs to Building is debited to Building account. 3) Depreciate Plant and Machinery and Building at 5% p.a. 4) Goods of Rs.750 taken by Roshan for this personal use. 5) Included in wages advances given to workers Rs. 3,000. 6) Provide Rs. 1,500 for bad and doubtful debts on Debtors