The following trial balance is extracted from the books of M s Ram on March 31 2017 You are required...........

Accountancy (11th) Chapter-9 Financial Statements-1

The following trial balance is extracted from the books of M/s Ram on March 31, 2017. You are required to prepare trading and profit and loss account and the balance sheet as on date: (5 marks)

Account title	Amount Rs	Account title	Amount Rs
Debtors	12,000	Apprenticeship premium	5,000
Purchases	50,000	Loan	10,000
Coal, gas and water	6,000	Bank overdraft	1,000
Factory wages	11,000	Sales	80,000
Salaries	9,000	Creditors	13,000
Rent	4,000	Capital	20,000
Discount	3,000
Advertisement	500
Drawings	1,000
Loan	6,000
Petty cash	500
Sales return	1,000
Machinery	5,000
Land and building	10,000
Income tax	100
Furniture	9,900