4:36 0 C Pull Ril 49% Principles of Accounting Practice Questions Question no: 1 (C) From the following balances of M/s Keshav Bros. You are required to prepare trading and profit and loss account and a balance sheet of March 31, 2014. Debit balances Credit balances Sales Return outwards Creditors Bills payable Provision for bad debts Capital Rent received Commission received Amount Rs. 3,00,000 2,500 2,50,000 70,000 1,550 2,20,000 10,380 16,000 Plant and Machinery Debtor's Interest Wages Salary Carriage inwards Carriage outwards Return inwards Factory rent office rent Insurance Furniture Buildings Bills receivable Cash in hand Cash at bank Commission Opening stock Purchases Bad debts Amount Rs. 1,30,000 50,000 2,000 1,200 2,500 500 700 2,000 1,450 2,300 780 22,500 2,80,000 3,000 22,500 35,000 500 60,000 2,50,000 3,500 8,70,430 8,70,430 Adjustment 1. Provision for bad debts @ 5% and further bad debts Rs. 2,000. 2. Rent received in advance Rs. 6,000. 3. Prepaid insurance Rs. 200. 4. Depreciation on furniture @ 5%, plant and machinery @ 6%. building @ 7%. 5. Closing Stock Rs. 70,000 III o