953 Illustration 8 From the following Trial Balance and other information of Mr. S. Basu, prepare Trading and Profit and Loss Account of Mr. Basu for the year ended 31.3.2017 and a Balance Sheet as on that date : Debit Credit R) Capital 100,000 Drawings 10,000 Land and Buildings 90,000 Plant and Machinery 20,000 Furniture 5,000 Sales 1,40,000 Return Outward 4,000 Debtors 18,400 Loan taken on 01.07.2016 @ 6% p.a. 30,000 Purchases 80,000 Return Inward 5.000 Carriage Inward 10.000 Sundry Expenses 600 Insurance Expenses 1,500 Provision for Bad Debts 1,380 Bad Debts 400 Stock on 01.04.2016 21,300 Salaries and Wages 18,500 Creditors 12,000 Trade Expenses 800 Cash at bank 4,600 Cash in Hand 1,280 2.87 3.80 2.87 380 Additional information: (a) Stock on 31.3.2017 - 27,300. (b) A fire broke out on 23.03.2017 and 10,000 worth of goods were destroyed.. (c) Bad Debts amounting to 400 are to be written-off. Provision for bad debts is to be made at 8%. (d) Mr. Basu took away goods worth 2,000 for personal use but no record was made thereof. (e) Charge Depreciation at 2% on Land and Building, 20% on Plant and Machinery and 5% on Furniture. (1) Insurance prepaid amounts to