Given below is the Trial Balance of M/s Radha and Krishna on 31st March, 2004.

Partners share profit & losses in the ratio of 3:2 respectively. From the following trial balance and additional information, prepare a Trading & Profit & Loss account for the year ended 31st March, 2004 and a Balance sheet as on that date. Trial Balance as on 31st March, 2004.
Particulars(Debit) Partner's Current A/c Radha Partner's Drawings Radha Krishna Purchases Returns Debtors Furniture Premises Bad debts Discount Provident Fund Contribution Provident Fund Investment Salaries & Wages Opening Stock Cash in hand Royalties 15000 10000 120000 2500 65000 50000 160000 7500 5000 15000 60000 15003 80000 18000 4000 643003 643003 16000 Amount Particulars(Credit) Partners Capital Account Radha Krishna Partners Current Account Krishna Sales Returns Creditors RDD Provident fund Interest on P.F. Investment Outstanding Salaries & Wages General Reserve 10000 365000 3500 10000 2000 65000 6000 6500 45003 80000 50000 Amount

Adjustments:

1. The closing stock was valued at marked price Rs. 90,000 which is 20% above cost. 2. Write off bad debts Rs. 1500 and make a provision for doubtful debts @5% on debtors. 3. Provide 2% Reserve for discount on debtors and creditors. 4. Depreciate Furniture @ 15% and Premises @ 20%. 5. Interest on capital is allowed @ 10% p.a. and interest on drawings be charged @ 15% p.a. 6. Radha is entitled to receive rent for her premises at Rs. 300 p.m. where business is carried out and Krishna is to be given 5% commission on Gross Profit.

X, Y & Z are partners in a firm of following terms. a. Y and Z to get salaries of Rs. 10,000 and Rs. 5,000 respectively for the year. b. Interest on Capital and on drawings is to be calculated at 10% p.a. c. They share profits and losses as X 50%, Y 30%, Z 20%.
The Trial Balance of the firm as on 31st March 1996 was as follows.
Debit Balance Furniture Premises Plant & Machinery Purchases Opening Stock Works Managers Salary Office Expenses Rent & Insurance Legal Fees Debtors Balance at bank Drawings: X Y Z 17,000 11,000 9,000 6,98,500 6,98,500 Rs. 22,000 60,000 70,000 2,80,000 42,000 64,000 45,200 10,500 3,500 20,600 43,700 Credit Balance Capital A/c X Y Z Current A/c X Y Z Sales Creditors 6,000 12,000 18,000 4,65,000 37,500 80,000 50,000 30,000 Rs.

Your are informed that:

1. Stock on 31st march, 1996 is valued at Rs. 36,000 2. Outstanding expenses are Works Managers salary Rs. 6,000, Rent Rs. 1,000 3. Prepaid insurance Rs. 500 4. Machinery of Rs. 2,000 is included in Purchases. 5. Depreciate all fixed assets at 10% 6. Provide for commission receivable Rs. 2,000 7. On 31st March 1996 goods worth Rs. 5,000 were destroyed by fire and insurance co. Admitted claim for Rs. 2,000. 8. Goods distributed as free samples Rs. 1,000 were not recorded.