(a) From the following schedule of balances extracted from the books of Mr. Piyush, prepare Trading and Profit and Loss Account for the year ended 31st March, 2024 and the Balance Sheet as on that date after making the necessary adjustments: ParticularsDr. (₹)Cr. (₹) Capital Account8,85,000 Stock on 1.4.20233,86,000 Cash in hand18,500 Cash in Bank73,500 Investment (at 9%) as on 1.4.202350,000 Deposits (at 10%) as on 1.4.20233,00,000 Drawings78,000 Purchases24,95,000 Sales29,86,000 Return Inwards1,10,000 Return outwards1,38,000 Carriage inwards1,26,000 Rent66,000 Salaries1,15,000 Sundry Debtors2,35,000 Sunday Creditors1,37,500 Bank Loan (at 12%) as on 1.10.20232,00,000 Furniture as on 1.4.202325,000 Interest paid12,500 Interest received28,500 Advertisement40,300 Printing & Stationery32,200 Electricity Charges57,700 Discount allowed55,200 Discount received24,600 Bad debts18,500 General expenses36,800 Motor Car Expenses8,500 Insurance Premium30,000 Travelling Expenses21,800 Postage & Courier8,100 43,99,60043,99,600 Adjustments: (i) The value of stock as on 31st March, 2024 is ₹ 7,65,000. This includes goods returned by customers on 31st March, 2024 to the value of ₹25,000 for which no entry has been passed in the books. (ii) Purchases include one furniture item purchased on 1st January, 2024 for ₹10,000. Depreciation @ 10% p.a. is to be provided on furniture. (iii) One months' rent is outstanding and ₹ 12,000 is payable towards salary. (iv) Interest paid includes ₹9,000 paid against Bank loan and Interest received pertains to Investments and Deposits. (v) Provide for interest payable on Bank Loan and interest receivable on investments and deposits. (vi) Make provision for doubtful debts at 5% on the balance under sundry debtors. (vii) Insurance premium includes ₹18,000 paid towards proprietor's life insurance policy.

(b) X and Y are partners sharing profits and losses in the ratio of their effective capital. As on 1st April, 2023, they had ₹2,80,000 and ₹1,60,000 respectively in their Capital Accounts. X introduced a further capital of ₹ 20,000 on 1st June, 2023 and another ₹15,000 on 1st October 2023. On 31st January 2024, X withdrew ₹25,000. On 1st August, 2023 Y introduced further capital of ₹30,000. During the Financial year 2023-24, the partners drew the following amounts in anticipation of profit: X drew ₹5,000 at the beginning of each quarter and Y drew₹ 1,500 per month at the end of each month beginning from April, 2023 As per partnership agreement, the profits were to be shared in capital ratio. The interest on Capital @ 12% p.a. is allowable and interest on drawings @ 10% p.a. is chargeable. You are required to calculate (i) Profit-sharing ratio; (ii) Interest on capital; and (iii) interest on drawings.