1. Following is the unadjusted Trail balance of Konark Mansi Pallavi & Co as on 31.03.2020 20000 2000 17400 2730 9700 2870 12000 6000 7580 35000 7100 115760 Store Equipment Accumulated depreciation, store equipment Merchandise inventory Office supplies Trade receivable Cash Prepaid store rent Prepaid Insurance Trade payable Share Capital Retained Earning Sales Sales Return and allowances Sales discount Purchase Purchase return and allowances Purchase discount Freight in Office salary expenses Sales salary expenses Advertisement expenses Interest expenses Telephone expenses Store rent expenses Total 1170 1030 69230 1180 2150 4200 5100 9600 2300 1130 910 5400 170770 170770 a. C. Prepare the statement of profit and loss and Balance sheet after considering following adjustment (50) Estimated depreciation on store equipment, 1000 b. Ending office supplies inventory, 390 Store rent from April 1, 2019 to September 30, 2019 was paid at 900 per month and rent for the following 12-month period was paid at 1000 per month in October 2019. d. The current insurance policy was taken for one year from April 1 2019 Sales salary outstanding, 900 f. Estimated income tax, 5000 Ending merchandise inventory, 23100 e. g