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 Prepare Trading and Profit and Loss account for M/s Solar Charkha Makers from the following information for the year ending 31-03-2019 when Closing stock is valued at 20,000.

Trial Balance as on 31.3. 2018

Name of AccountDebit Balance (Rs.)Credit Balance (Rs.)
Opening Inventory50,000.....
Purchase and Sales8,15,00012,03,700
Returns7005,000
Rent Received....13,400
Debtors and Creditors 1,28,0003,44,800
Capitals.....2,40,000
Salaries and Wages35,000.....
Bad Debts7,800.....
Patents35,000.....
Machinery4,50,000......
Bank Loan......2,00,000
Cash at Bank485,400.....
\(\underline{\underline{\over{20,06,900}}}\)
 
\(\underline{\underline{\over{20,06,900}}}\)
 

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Balance Sheet as on 31.03.2018

LiabilitiesAmount (Rs.)AssetsAmount (Rs.)
Capital 2,40,000
Net Profit + 333,600
573,600Debtors1,28,000
Creditors3,44,800Patents35,000
Bank Loan2,00,000Machinery4,50,000
Cash at Bank485,400
Closing Stock20,000
11,18,40011,18,400

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