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ved to be debuted to P&LN ILLUSTRATION 39. Profit and Loss Account of Mis Raju & Company General Expenses are Insurance Premium 1.50.000 and debts ories 4,000 7.000 2.000 1.000 65.000 22,250 12.500 2,000 1.000 2,000 5,000 1.000 500 750 Advertisement (in cash) proprietor's salary crest on capital Income tax Depreciation Sales-tax (due) Gross Profit Bad debts, recovered but disallowed carlier Interest from Govt Securities Rent received from employees Interest from debtors for delayed payment 4.000 12.000 6.000 Advance income-tax paid Donations Motor car expenses Municipal taxes of quarters letto amployees Net profit 5.000 39,000 1.66,000 1.66.000 General expenses include 4.000 paid as compensation to an old employee whose services were aminated in the interest of the business and 2,200 by way of help to a poor student. Depreciation alculated according to the rates comes to 2.900. Sales tax was paid on 1-5-2015 Date of filing of cturn is 31-7-2015 50% of Motor-car expenses are for proprietor's personal use Compute business income