13.Surekha 's trial balance was as follows. Debit Balances To Purchases Trial Balance for the year ended 31st March, 2008 Amt Credit Balances 1,50,000 By Provident Fund Amt 11,000 To Sales return To Sundry Debtors 10,000 By Interest on Provident 50,000 fund Investment 500 To Opening Stock 15,500 By Purchase return 10,000 To Salaries To Wages To Furniture 10,000 By Sundry Creditors 20,000 5,800 By Sales 2,06,300 7,200 By Capital 50,000 To Machinery 17,500 To Bad debts 300 To Advertisement(for 3 years from 1st Oct., 2007) 3,000 To 10% Provident Fund Investment 10,000 To Provident Fund contribution 1,000 To Insurance 3,000 To Drawings: 4,500 To Deferred Revenue expenses 10,000 2,97,800 2,97,800 Adjustments: 1.Closing stock on 31st March 2008 -Cost price 70,000 2.Depreciate - Machinery by 10% and Furniture by 20% p.a. 3.Goods worth 8,000 sold by 25% profit on keep or return scheme. 4.Outstanding expenses - Wages 2,000; Salaries 5,000 5. Write off *1,000 as bad debts and provide reserve for doubtful debts @5%. Prepare Trading and Profit and Loss account for the year ended 31st March, 2008 and Balance Sheet on that date. (GP=1,01,000, NP=74,960, B/s =1,59,460)