The following balances have been extracted from the trial of M/* Haryana Chemica Ltd. You are required to prepare a trading and profit and loss account and balance sheet as on December 31, 2005 from the given information.
Adjustments
Closing stock was valued at the end of the year Rs. 80,000.
Salary amounting Rs. 1,000 and trade expense Rs. 600 are due.
Depreciation charged on building and machinery are @ 4% and @ 5% respectively.
Make a provision of @ 5% on sundry debtors.
