Q.1 You are required to prepare Balance Sheet and Statement of Profit & Loss from the following trial balance of BR & M Ltd. for the year ended 31st March, 20X1. [14] Particulars Amount (INR) Particulars Amount (INR) Inventory 6,80,000 Equity Share capital 25,00,000 (Face Value INR 10/-) Furniture 2,00,000 11% Debentures 5,00,000 Discount 40,000 Bank loans 6,45,000 Loan to Directors 80,000 Trade payables 2,81,000 Advertisement 20,000 Sales 42,68,000 Bad debts 35,000 Rent received 46,000 Commission 1,20,000 TransferFees 10,000 Purchases 23,19,000 Profit & Loss Account 1,39,000 Plant & Machinery 8,60,000 Depreciation Provision: 1,46,000 Machinery Rentals 25,000 Current Account 45,000 Cash 8,000 Interest on bank loans 1,16,000 Preliminary Expenses 10,000 Fixtures 3,00,000 Wages 9,00,000 Consumables 84,000 Freehold land 15,46,000 Tools & Equipment 2,45,000 Goodwill 2,65,000 Trade Receivables 4,40,000 Dealer Aids 21,000 Transit Insurance 30,000 Trade Expenses 37,000 Distribution Freight 54,000 Debenture Interest 55,000 Total 85,35,000 Total 85,35,000