From the following Trial Balance of ZeeP Ltd for the year ended 31st March 2014, prepare the Income Statement and Balance Sheet.

Particulars Opening Stock

Plant and Machinery

Furniture and fixtures

Freehold Premises

Purchases

Salaries

Sundry Debtors

Manufacturing Wages

Maintenance Expenses

Carriage Inwards

Carriage Outwards Other Expenses

Bad Debts

Interest and Bank Charges

Rent

Insurance Premium Paid

Cash at Bank

Cash at hand

Common Stock 90,000

Sundry Creditors

Discount Received

Bank overdraft

Purchase Returns

Sales

Amt

45,000

85,000

7,500 75,000

1,50,000

14,000

55,000

30,000

15,000

2,000

2,100

10,000

750

625

750

1,500

695

150

43,000

3,500

20,000

1,500

3,37,070

Adjustments:

Closing Stock - Rs 57000; Insurance Prepaid - Rs 500

Salary paid in advance - Rs 600; Outstanding interest on overdraft - Rs 1000

Rent unpaid - Rs 400

Depreciation in plant and machinery - 10% p.a Depreciation on furniture and fixtures - 20% p.a