7. From the understated Trial balance of M/s Rashu Brothers prepare (a) Manufacturing Account (b) Trading and Profit & Loss Account and (C) Balance Sheet. Trial Balance as on 31st December 2019 Debit balances Amount Credit balances Amount (Rs.) (Rs.) Wages 20,000 Sales 1,74,000 Stock (Raw Materials) 1.1.2004 5,710 Profit and Loss Balance 12,000 Purchases 88,274 1.1.2004 Carriage Inward 3,686 Capital 1,30,000 Repairs 6,000 2,100 1,000 2,240 3,550 700 80 410 Salaries (factory) Salaries General Rates and Taxes Travelling Expenses Insurance (Factory) Insurance General Bad debts General Expenses Carriage Outward Various Assets Stock (Finished goods) 1.1.2004 Total The Closing Stocks are as follows: Raw materials Work-in-progress Finished goods 2,942 9,424 1,13,884 56,000 3,16,000 Total 3,16,000 RM 40,000 12,000 6,000