ILLUSTRATION 3. Following is the Trial Balance of woodwine & Co. Ltd. as on 31st March, 2015; Head Office Branch Office $ $ $ $ Share Capital: Authorised & Issued 50,000 shares of $10 each 5,00,000 Branch Fittings 6,000 H.O. Remittance 2,12,660 Purchases 4,92,180 Goods sent to Branch 2,50,920 Head Office Stock 1-4-2014 98,460 Branch Office Stock 1-4-2014 (at wholesale price) 58,440 Fixed Assets H.O. 4,92,660 Sundry Debtors 1,72,800 14,250 Head office A/c 11,900 Sales 7,45,620 2,40,420 Branch Purchases 2,50,920 Sundry Creditors 60,800 Branch Remitlances 2,12,660 Cash at Bank 1,82,100 2,000 Cash in Hand 500 200 Profit & Looss A/C 2,54,000 Branch A/C 11,900 Expenses-H.O. 2,65,840 -Branch 11,680 23,310 Branch Stock Adjustment A/c 19,480 20,43,480 20,43,480 2,52,320 2,52,320 Head Office supplies the Branch with all the goods required, and these are charged out at retail selling price, which is cost plus 100%. At the end of the year an adjustment is made to reduce the price charged to the wholesale price, which is cost plus 50%. Books are kept at the Branch to record sales and certain cash transactions. All cash received by the branch is paid to the bank to the credit of head office, but to Branches a local bank account, worked on imprest for the payment of sundry expenses, the remittances being made monthly by the H.O. The values of stock on hand on 31st March, 2015 were-H.O. 94,600 and Branch (at retail selling price) 92,000. From the above, prepare a columnar Trading and Profit & Loss A/c for the year ended 31st March, 2015 and a Balance Sheet on that date. Ignore taxation, Journal Entries are not required