1. The following was the Trial Balance of Khimii Trading Company Limited as on 31" December 2019. Credit Debit 0000 150000 101000 180000 4000 5000 20000 1500 | 800 1200 4000 1650 1000 Particulars Stock1, January 2019 3 Buildings Purchases Sales Returns Productive wages Carriage inwards Carriage outwards Discounts Salaries Rent Commission General expenses including insurance Profit and loss account, 1 January 2019 Interim dividend paid Capital -2000 shares of $100 each Calls in artears Sundry debtors and creditors Plant and machinery Cash in hand and at Bank 10% debentures Interest paid on debentures Debenture redemption fund 1200 5500 12000 10000 200000 20300 2000 50000 87750 5600 50000 2500 10000 Prepare profit and loss account and Balance sheet in proper form after making the following adjustments: 1. Closing stock was valued at $ 50000 Debtors include $ 1000 as advance for expenses 3. Provide 5% on Debtors for doubtful debts. Also provide 2% for Discount on Debtors and Creditors. 4. One month's rent @ $ 1800 per annum was due on 31" December 2019. 5. Insurance was paid on 30 September, 2019 to run for one year $ 2000 6. Transfer $ 5000 to debenture redemption fund