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6. From the following Trial Balance of ABC Ltd for the year ended 31st March 2022, prepare the Income Statement and Balance Sheet. Particulars
6. From the following Trial Balance of ABC Ltd for the year ended 31st March 2022, prepare the Income Statement and Balance Sheet. Particulars Amt Amt Computers 37,000 Plant and Machinery 3,80,000 Cash in hand 4,500 Cash at bank 51,830 Opening Inventory 8,100 Debtors 65,300 Purchases 2,73,685 Sales 5,20,870 Carriage Outward 3,100 Creditors 20,600 Rent 41,700 General Expenses 24,000 Loan @ 10% p.a 2,00,000 Returns Inwards 1,300 Returns Outward 1,100 Repairs 1,400 Wages 54,755 Interest 10,000 Electricity Charges 2,800 Bills Payable 6,900 Capital 2,10,000 Total 9,59,470 9,59,470 Adjustments: Closing Inventory - Rs 15600 Create a provision for doubtful debts @ 5% Depreciation on plant and machinery - 10%; Computers - 20% General expenses - Rs 2000 paid in advance
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