Modern Stores of Delhi operates a branch at Nagpur. The Head office affects all purchases and the branch is charged at cost plus 60%. All the cash received by Nagpur Branch is remitted to Delhi. The Branch expenses are met by the Branch out of an Imprest Account which is reimbursed by the Delhi Head Office every month. The Branch maintains a Sales Ledger and certain essential subsidiary records, but otherwise all branch transactions are recorded at Delhi. The following branch transactions took place during the year ended 31st March, 2022: ₹ Goods received from Delhi at Selling Price1,50,000 Cash Sales69,000 Goods returned to Delhi at Selling Price3,000 Credit Sales (Net of returns)63,000 Authorized Reduction in Selling Price of Goods Sold1,500 Cash Received from Debtors48,000 Debtors written off as irrecoverable2,000 Cash Discount allowed to Debtors1,500 – On 1st April, 2021 the Stock in trade at the Branch at Selling Price amounted to ₹60,000 and the Debtors were ₹40,000. – A consignment of goods sent to the Branch on 27th March, 2022 with a Selling Price of ₹1,800 was not received until 5th April,2022 and had not been accounted for in stock. – The Closing Stock at Selling Price was ₹72,900. – The expenses relating to the Branch for the year ended 31st March,2022 amounted to ₹18,000. You are required to prepare the Branch Stock Account, Branch Debtors Account, Branch Adjustment Account and Branch Profit and Loss Account maintained at Delhi under Stock and Debtors method. Any stock unaccounted for is to be regarded as normal wastage.

Ramesh had ₹ 3,30,000 in the bank account on 1st January,2021 when he started his business. He closed his accounts on 31st March, 2022. His single-entry books (in which he did not maintain any bank account for the bank) showed his position as follows: 31.3.202131.3.2022 Stock20,90031,900 Debtors1,1003,200 Cash2,2003,300 Creditors5,5004,300 On and from 1st February,2021, he began drawings at ₹ 770 per month for his personal expenses from the cash box of the business. His account with the bank had the following entries: DepositsWithdrawals 1.1.2021 to 31.3.20212,45,300 1.4.2021 to 31.3.20222,53,0002,97,000 – The above withdrawals included payment by cheque of ₹ 2,20,000 and ₹ 66,000 during the period from 1st January, 2021 to 31 March,2021 and from 1st April,2021 to 31st March, 2022 respectively for the purchase of Machines for the business. – The deposits after 1st January, 2021 consisted wholly of sale proceeds received from the customers by cheques. – One customer (Suresh) had directly deposited a cheque of ₹2,700 on 25th March, 2022 into bank account of Ramesh. Ramesh has no knowledge of this and this cheque is not included in the deposits for the period 1st April 2021 to 31st March 2022 given above. You are required to draw up Ramesh's Statement of Affairs as at 31st March, 2021 and 31st March, 2022 respectively and work out his Profit or Loss for the year ended 31st March, 2021 and 31st March, 2022.