967 Cr.) (6) Depreciation on Furniture : On 10,000 @ 10% for full year 1,000 On 5,000 @ 10% for 9 months 375 1.375 Illustration 25 The following Trial Balance was extracted from the books of Mr Roy as on 31st March, 2017: Particulars Dr. 3 Particulars Plant and Machinery 2,00,000 Capital Account 8,00,000 Manufacturing Wages 3,45,000 Sundry Creditors 4,65,060 Salaries 1.58.500 Bank Loan @ 12% Interest taken on 01.08.2016 1,50,000 Furniture 1,00,000 Purchase Returns 17.400 Freight on Purchase 18,600 Sales 25,08,500 Freight on Sales 21.400 Provision for Doubtful Debts 20,000 Buildings 2,40,000 Manufacturing Expenses 95,000 Insurance and Tax 42,500 Patent and Trademark 2,50,000 General Expenses 74,000 Factory Fuel and Power 12,800 Sundry Debtors 8,02,000 Factory Lighting 9,500 Stock (31.3.2016) 3,42,000 Motor Car 1,20,000 Purchases 10,20,000 Sales Retums 31,000 Bad Debts 14,000 Bank Charges 4,000 Interest on Bank Loan 8,000 Cash at Bank 42,000 Cash in Hand 11,200 39,61,500 39,61,500 Prepare the Trading and Profit and Loss Accounts for the year ended 31st March, 2017 and a Balance Sheet as on that date taking into consideration the following information: (a) Stock in hand as on 31st March, 2017 was: Cost price -3,05,000 Net realisable value - 3,20,000. (b) Depreciate plant and machinery @ 10% p.a., furniture @ 5% p.a., and motor car by 10,000. (c) Mr Basak, a customer from whom? 15,000 was due, declared insolvent and nothing is expected to be realised out of his estate. Create provision for doubtful debts at 5% on general debtors. (d) 5,000 is due from Mr Basu Ray and at the same time 8,000 is due to him. (e) A commission of 1% on the gross profit is to be provided to Works Manager. (1) General Manager is to be allowed a commission @ 2% on net profit after charging Works Manager's commission and before charging General Manager's commission. (g) Two cheques of 2,000 and 5,000 were deposited into bank on 29th March, 2017 but were credited by the bank on 5th April, 2017