Prepare final accounts for the year ending March 31, 2010 using the following trial balance:

Additional Information:

1. Closing stock was ₹4,11,500.

2. Wages for the month of March 65,000 was due but not paid 

3. Make provision for tax @ 20% of EBT.

4. Transfer 50,000 to reserve account.

5. Equity dividend is proposed @ 10% subject to the availability of sufficient profits.

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Dr. Stock Furniture Discount Particulars Loan to Directors Advertisement Bad debts Commission Purchases Plant and machinery Rentals Current account Cash Interest on bank loan Preliminary expenses Fixtures Wages Consumables Freehold land Tools & equipments Goodwill Debtors Bills receivables Dealers aids Transit insurance Trade expenses Delivery van expenses Debenture interest Trial Balance as on March 31, 2010 Amount (3) 3,40,000 1,00,000 20,000 40,000 10,000 17,500 60,000 11,59,500 4,30,000 12,500 22,500 4,000 58,000 5,000 1,50,000 4,50,000 42,000 7,73,000 1,22,500 1,32,500 1,43,500 76,500 10,500 15,000 36,000 27,000 10,000 42,67,500 Particulars Equity share capital (face value 10 each) 10% Debentures (as on April 1, 2009) (Secured) Bank loan (Unsecured) Bills payables Creditors Sales Rent received Profit and loss account Provision for depreciation on machinery Amount (3) 12,50,000 2,50,000 3,22,500 62,500 78,000 21,34,000 28,000 69,500 73,000 Cr. 42,67,500