The Trial Balance of Simplex Ltd. as at 31st March, 2011 shows the following items:

 

Dr.

Cr.

 

Rs

Rs

Provision for Income tax Account (1.4.2010)

 

60,000

Advance Payment of Tax Account

1,10,000

 

You are also given the following information:

(1) Advance Payment of Tax Account includes Rs.70,000 for 2009 10.

(2) Actual tax liability for 2009 10 amounts to Rs.76,000 and no effect for the same has so far been given in accounts.

(3) Provision for Income tax has to be made for 2010 11 for Rs80,000. Prepare the various ledger accounts involved and also show how the relevant items will appear in the balance sheet of the company.