2. NEW FASHIONS PVT. LTD The following is the trial balance of New Fashions Pvt. Ltd. As on 31st March 2006. Amount (Rs.) Sl.No. Account Heads 1 Premises 2 Plant and machinery 3 Opening inventory 4 Debtors 5 Land 6 Cash in hand 7 Current account-ABN Amro Bank 8 Bills receivable 9 Purchases 10 Preliminary expenses 11 Wages 12 13 14 15 2375 General expenses Salaries Bad Debts Interest on term loan 16 Equity share capital 17 10% Preference share capital 18 19 P&L A/C balance as on 1.04.2005 20 Bills payable 21 Creditors 22 Sales 23 General reserve as on 1.04.2005 24 Central sales tax payable Total Further information: Debit Credit 3,60,800 4,95,000 1,12,500 1,06,050 87,500 4,725 45,500 58,875 27,00,000 $7,500 86,970 10,252 90,338 3,165 27,000 3,00,000 10% cus Divist Secured term loan from D.Financial Corporation @ 12% p.a 1,00,000 4,50,000 FR. E) Begus, cr 39,375 55,500 83,000 31,20,000 37,500 10,800 41,96,175 41,96,175 Sumiler to Des -10L 1.Authorised share capital of the company: 1,00,000 equity shares of Rs.10 each and 1,000 preference shares of Rs.100 each. 2. Issued share capital of the company: 30,000 equity shares and 1,000 preference shares 3. Depreciation is to be provided for @ 10% on premises and 14% on plant and machinery 4. 20% of preliminary expenses are to be written off. 5. Interest on term loan is due for six months. Expuse 6. Bills receivable Rs.25,000 were dishonored. Effect was not carried out. 7. Doubtful debts are to be provided for Rs.3,000 8. Value of inventory on 31.03.2006 is Rs.1,35,000 Expidu to est