1. From the following trial balance, prepare the statement of trading and profit and loss account and Balance Sheet as on 31.03.2019 Trial Balance as on 31 March 2019 Debit Rs. Particulars Nayaks Capital Nayak's Drawings Machinery Buildings Debtors Trade Expenses Stock on 01-04-2018 Salary Rent for 11 months Bad Debts Discount Returns Sales Purchases Commission re Furniture Reserve for doubtful debts Wages Carriage Inwards Overdraft Creditors Cash 8000 20000 32000 10000 300 8000 4000 2200 500 460 760 40000 2000 7000 500 500 136220 Credit Rs. 40000 560 1600 78000 260 800 3000 12000 Adjustments: 1. Allow Interest on capital and drawings at 5% and 4% respectively 2. Depreciation on Machinery and furniture at 10% and 5% respectively 3. Salary is prepaid to the extent of Rs. 100 4. One-month rent is outstanding. 5. Interest on overdraft outstanding Rs. 450 6. Reserve 6% on Sundry Debtors for doubtful debts. 7. Value of Closing Stock at Rs. 25000. 136220