FINAL AC CHAVAN CLASSES Problem No.15 From the following Trial Balance of Jitendra and Mahendra, you are required to prepare. Trading and Profit and Loss Account for the year ended 31" December 1994 and Balance sheet as on that date after considering the adjustment Salary and Wages Sundry Expenses Productive Wages Bills Receivable Work Expenses Debtors Trade Mark Foils and Equipment Goodwill lding Trial Balance 31" December 1994 Rs Particulars 35,000 Sales 9,200 Discount 10.000 Creditors 2.25.200 Bank Overdraft 8,600 Interest on Investment 14.000 Capital 8,000 3.000 1.000 6.000 3.000 20.000 40.000 8.000 6.000 12.000 13,000 50,000 4,72.000 Jitendra Mahendra Rs 3,30.000 4,800 20,000 10,000 7,200 60.000 40,000 4,72,000 Adjustment :- 1) Partners share profit and losses in their capital ratio The closing Stock: Cost Price Rs 40,000 and Market price Rs 45,000 Jitendrad has withdrawn goods worth Rs 1.200 for his own use should be properly adjusted Uninsured goods worth Rs 10,000 were destroye