From the following Trial Balance, prepare Trading and Profit and Loss A/c and the Balance Sheet as on 31 December 2007.

Adjustments: The closing stock was 1600. Depreciate Plant and Machinery 10% and Horse and Cart 15%. Unpaid rent amounted to 50.

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Capital 19,000 Sundry Creditors 2600 Cash at Bank 2600 Bills payable 2350 Drawings 700 Sales 4200 Salaries 800 Plant and Machinery 12,000