(20 marks) Amount Amount (Rs.) 6,000 6,00,000 Q1. The following is the trial balance of Alliance Pvt. Ltd. as at 31* March 2020: Particulars (Rs.) Particulars Opening stock 41,000 Purchase returns 10% Government Bonds (Purchased Share Capital (Authorised: on 1.4.2017) 1,00,000 1,00,000 shares of Rs. 10 cach) Building (addition in mid-year of Rs. 12% Debentures (Issued on 2,00,000) 8,50.000 1.10.2019) Purchases 2,20,000 Sales Productive Wages 30,000 Provision for bad debt Repairs & Maintenance expense 30,000 Debtors 70.000 Bad debts 9,000 Carriage Inward 1,100 Interest on Government Bond accrued 6.000 Total 13,57.100 Total 3,00.000 4,44,100 7,000 13,57,100 The following is the additional information available: 1) The physical stock in our godown on 31.3.2020 is Rs. 50,000. 2) On 1.3.2020, goods costing Rs. 80,000 were sent to Mr. Bramha at 20% profit on sales on approval basis. The transaction was recorded as a part of sales on 1.3.2020. Out of the total goods, Mr. Bramha has approved only 50% by 31.3.2020. The remaining goods will be returned back to Alliance Pvt Ltd. 3) It was decided to transfer 25% of the current year profit to general reserve. 4) Depreciate Fixed Assets @ 10% p.a. 5) Create Provision for bad debt @ 10% on debtors. 6) Provide for Income tax @ 30% Prepare Balance Sheet and Statement of Profit and Loss for Alliance Pvt. Ltd. for the year ended 31.3.2020 and also relevant notes to accounts as per Schedule III of Companies Act 2013