creditor Outstanding expenses Reserves Capital Add Net Profit Add Interest Less Drawings Sundry debtors Bills receivable Stock-in-trade Loose tools Fixtures and fittings Plant and machinery Building Land r27 Goodwill Rs. BALANCE SHEET (B) B (IN ORDER OF PERMANENCE) Liabilities RA Assets Capital Goodwill Add Net Profit Land Add Interest Building Less Drawings Plant and machinery Reserves Fixtures and fittings Outstanding expenses Loose tools Sundry creditors Stock-in-trade Loans Bills receivable Bilts payable Sundry debtors Investments Cash at bank Cash in hand Mustration III: The following balances are extracted from the books of Kautilya & Co. on 31st March, 2006. You are required prepare the Trading and Profit and Loss Account and a Balance Sheet as on that date. Rs Rs. Stock on April, 1 500 Commission (Cr.) 200 B/R 2.250 Returns Outwards 250 Purchases 19,500 Trade Expenses 100 Wages 1,400 Office Fixtures 500 Insurance 550 w Cash in Hand 250 Sundry Debtors 15,000 Cash at Bank 2,375 Carriage Inwards 400 550 wa Commission (Dr.) 400 Carriage Outwards 725 Interest on Capital 350 Sales 25,000 225 Bills Payable 1,500 Returns Inwards 650 Creditors 9,825 Capital 8,950 Rent & Taxes Stationary