10min

The following are the balances extracted from the books of Ms. Megha as on 31.12.2019 Particulars Dr. Cr. Capital 20,000 Drawings 4,000 Cash at bank 1,700 Sales 16,000 Cash in hand 6,500 Wages 1,000 Purchases 2,000 Stock 1.1.2019 6,000 Sundry creditors 4,500 Buildings 10,000 Sundry Debtors 4,400 Bills Receivable 2,900 Rent 450 Commission 250 General Expenses 800 Furniture 500 40,500 40,500 Adjustments: i. Closing stock 4,000 valued as on 31.12.2019 ii. Interest on Capital at 6% to be provided iii. Interest on Drawings at 5% to be provided iv. Wages yet to be paid 3 100 v. Rent Prepaid 50 a