Question no: 1 Prepare a Trading and Profit and Loss account and Balance Sheet for the year ended 30th June 2016: Debit Credit Rs Rs Cash 12,982 Debtors 3,470 Creditors 19,500 Plant 61,300 Custom Duty 8,590 Salaries 7,850 Trucks 46,600 Bank Loan 16,830 Furniture 36,000 Sales 179,900 Purchases 79,200 Capital 60,852 Repairs 4,390 Insurance 16,700 277,082 277,082 Closing Stock was Valued at Rs.10, 000