M/s R K Gupta & Sons deals in digital watches of multiple brands and has a presence in various locations of Delhi-NCR. From the balances extracted from the books of M/s R K Gupta & Sons, prepare Trading & Profit & Loss A/c and the Balance Sheet. The value of stock as on 31 March 2020 was Rs 3700.

Particulars Amount (Rs) Particulars Amount (Rs) Opening stock 1250 Plant & Machinery 6230 Sales 11800 Return outwards 1380 Depreciation 667 Cash in hand 895 Commission (Cr.) 211 Salaries 750 Insurance 380 Debtors 1905 Carriage inwards 300 Discount (Dr.) 328 Furniture 670 Bills Receivable 2730 Printing charges 481 Wages 1589 Carriage outwards 200 Return inwards 1659 Capital 9228 Bank overdraft 4000 Creditors 1780 Purchases 8679 Bills payable 541 Petty Cash in hand 47 Bad debts 180