Q. 1. Following Financial Position were extracted from the books of X Ltd for the year 2014.15. 
Trial Balance as at 31.3.15

Particulars	Debit (Rs.)	Credit (Rs.)
Capitals
A		70,000
B		50,000
C		80,000
Drawings
A	7000
B	4000
C	9000
S/D & S/C	38000	21000
12% Govt. Security	16000
Bank & 10% Bank Loan	14000	20000
Stock & Reserve	18000	11000
Interest Receivable	4000
Machinery & B's Loan	26000	10000
Wages payable		3000
Building & Bank Int. received in advance	47000	2000
Cash in hand & Net Profit	184000	100000
	367000	367000

Further information 
i) Partnership deed provides the followings: :
a) Int on capital is allowed @ 5% P.A. & Int on Drawings to be charged by 10% 
b) Profit & Loss to be shared in the capital ratio 
c)B is to get a quarterly salary of Rs.750 
d) 20% of the Divisible profit to be transferred to reserve. 
e) Interest on Bank Loan has not yet considered for whole year. 
f) An old Machinery with the book value of 7500 was sold at a profit of 100% not yet accounted. 
Prepare necessary ledgers for distribution of profit and prepare balance sheet of the firm on 31.3.15