From the following balances extracted from the book of M/s Manju Chawla on March 31, 2005, you are requested to prepare the trading and profit and loss account and a balance sheet as on this date.
Closing stock was Rs. 4,000.
(a) Interest on drawings @ 7% and interest on capital @ 5%.
(b) Land and Machinery is depreciated at 5%.
(c) Interest on investment @ 6%.
(d) Unexpired rent Rs. 200.
(e) Charge 5% depreciation on furniture.
