In: Finance
M/s R K Gupta & Sons deals in digital watches of multiple brands and has a presence in various locations of Delhi-NCR. From the balances extracted from the books of M/s R K Gupta & Sons, prepare Trading & Profit & Loss A/c and the Balance Sheet. The value of stock as on 31 March 2020 was Rs 3700.
| 
 Particulars  | 
 Amount (Rs)  | 
 Particulars  | 
 Amount (Rs)  | 
| 
 Opening stock  | 
 1250  | 
 Plant & Machinery  | 
 6230  | 
| 
 Sales  | 
 11800  | 
 Return outwards  | 
 1380  | 
| 
 Depreciation  | 
 667  | 
 Cash in hand  | 
 895  | 
| 
 Commission (Cr.)  | 
 211  | 
 Salaries  | 
 750  | 
| 
 Insurance  | 
 380  | 
 Debtors  | 
 1905  | 
| 
 Carriage inwards  | 
 300  | 
 Discount (Dr.)  | 
 328  | 
| 
 Furniture  | 
 670  | 
 Bills Receivable  | 
 2730  | 
| 
 Printing charges  | 
 481  | 
 Wages  | 
 1589  | 
| 
 Carriage outwards  | 
 200  | 
 Return inwards  | 
 1659  | 
| 
 Capital  | 
 9228  | 
 Bank overdraft  | 
 4000  | 
| 
 Creditors  | 
 1780  | 
 Purchases  | 
 8679  | 
| 
 Bills payable  | 
 541  | 
 Petty Cash in hand  | 
 47  | 
| 
 Bad debts  | 
 180  |