Generate Script of Database schema and data both

You can Create Database script in sqlserver 2005 with data and schema.

Just open Your Sql server management studio -> Tools-> Extrnal Tools.

Write Title - Publishing Wizard

Select on Command  and select Your ( sql server install folder) \90\Tools\Publishing\1.2\SqlPubWiz.exe

click apply  and ok.

(If you didn't find the above location than you must install this Setup )

Now select Tools->Publishing Wizard.

Database publishing Wizard is open now .

select server and select database and set location of files and  set Schema and data  to  Schema and Data

click next and finish this will Generate script with insert query of data.