Renu decided to start a business of garments under the name of M/s. Fashion wears on 1st April, 2024. She had savings of about - 30,00,000. She…

Renu decided to start a business of garments under the name of M/s. Fashion wears on 1st April, 2024. She had savings of about - 30,00,000. She invested - 9,00,000 out of her savings and borrowed an equal amount from the bank. She purchased a commercial space for 15,00,000 and further spent - 3,00,000 on its renovation to make it ready for business. Loan and interest repaid by her in the first year are as follows: 30 th June, 2024 - 45,000 principal +27,000 interest 30 th September, 2024 - 45,000 principal +25,650 interest 31 st December, 2024 - 45,000 principal +24,300 interest 31 st March, 2025 - 45,000 principal +22,950 interest In view of further capital requirements, she transferred - 6,00,000 from her savings bank account to the bank account of the business. She paid a security deposit of 21,000 for a telephone connection. Furniture of 30,000 was purchased. All payments were made by cheque and all cash receipts were deposited in the bank. At the end of the year, her business showed the following results: Particulars Amount (₹) Particulars Amount (₹) Total Sales 60,00,000 Total Purchases 51,00,000 Electricity Expenses paid 1,20,000 Telephone Charges 1,50,000 Cartage Outwards 1,80,000 Travelling Expenses 1,35,000 Entertainment Expenses 15,000 Maintenance Expenses 75,000 Miscellaneous Expenses 45,000 Electricity Expenses Payable 60,000 Other Information: (i) She withdrew - 15,000 by cheque each month for her personal expenses. (ii) Depreciation on building @ 5% p.a. and on furniture @ 10% p.a. (iii) Closing stock in hand as on 31st March, 2025 amounted to 16,50,000. Prepare Trading Account, Profit and Loss Account for the year ended 31-3-2025 and Balance Sheet as on that date.