: Trial balance of Watson Departmental Store as at November 30, 2016, is shown below.

Account Title	Debit Rs.	Credit Rs.	Account Title	Debit Rs.	Credit Rs.
Cash	28, 700		Sales		689, 200
Accounts Receivable	33, 700		Sales Discount	2, 000
Store Supplies	25, 500		Sales Return	2, 200
Inventory(Dec 1, 2015)	45, 000		Purchases	415, 000
Store Equipment	85, 000		Purchases Returns & Allowances		6, 250
All for Depre Store Equipment		18, 000	Carriage Inwards	12, 500
Delivery Equipment	48, 000		Advertising Expense	28, 400
Allow for Depre Del Equipment		6, 000	Salaries Expense	140, 000
Accounts Payable		38, 500	Delivery Expense	18, 700
Notes Payable		56, 000	Rent Expense	24, 000
Capital: C. Watson		123, 750	Repair Expense	7, 000
Drawings: C. Watson	22, 000			937, 700	937, 700

Merchandise Inventory as November 30, 2016 is Rs.44, 400

Requirement:

1. prepare statement of financial position as on November 2016.
2. Prepare statement of profit and loss for the year ended November 2016.

   : Trial balance of Watson Departmental Store as at November 30, 2016, is shown below.

   Account Title	Debit Rs.	Credit Rs.	Account Title	Debit Rs.	Credit Rs.
   Cash	28, 700		Sales		689, 200
   Accounts Receivable	33, 700		Sales Discount	2, 000
   Store Supplies	25, 500		Sales Return	2, 200
   Inventory(Dec 1, 2015)	45, 000		Purchases	415, 000
   Store Equipment	85, 000		Purchases Returns & Allowances		6, 250
   All for Depre Store Equipment		18, 000	Carriage Inwards	12, 500
   Delivery Equipment	48, 000		Advertising Expense	28, 400
   Allow for Depre Del Equipment		6, 000	Salaries Expense	140, 000
   Accounts Payable		38, 500	Delivery Expense	18, 700
   Notes Payable		56, 000	Rent Expense	24, 000
   Capital: C. Watson		123, 750	Repair Expense	7, 000
   Drawings: C. Watson	22, 000			937, 700	937, 700

   Merchandise Inventory as November 30, 2016 is Rs.44, 400

   Requirement:

3. prepare statement of financial position as on November 2016.
4. Prepare statement of profit and loss for the year ended November 2016.