$4.$ Prepare trading and profit and loss account and balance sheet as on March $31,2017$ :

Account Title

Amount

Account Title

Amount

Machinery

$27,000$

Capital

$60,000$

Sundry debtors

$21,600$

Bills payable

$2,800$

Drawings

$2,700$

Sundry creditors

$1,400$

Purchases

$58,500$

Sales

$73,500$

Wages

$15,000$

Sundry expenses

$600$

Rent & taxes

$1,350$

Carriage inwards

$450$

Bank

$4,500$

Openings stock

$6,000$

Closing stock as on March $31,2017`22,400$