Q.4. Prepare a trading and profit and bss account for the year ended 30-09-2006 and a balance (15) sheet as at that date of Faisal. Debit Credit Rs. Rs. Building 60,500 Stationary 2,500 Creditors 32,500 Commission 3.750 Taxes 2,500 Machinery 55,000 Postage & Telegram 2,000 Debtors 62,500 Drawings 20,000 Capital 200,000 Purchases 130,000 Sales 165,000 Stock 37,500 Cash 12,500 Salaries 8,750 Carriage 7,500 401,250 401,250 Stock on September 30, 2006 was Rs. 65,000 Ans. [Gross Profit Rs.55,000; Net Profit Rs.43,000; Balance sheet total Rs.255,500]