8.Mr. Ajay's trial balance is as follows. Debit Balances Trial Balance for the year ended 31st March, 2017 To Opening Stock To Purchases Amt Credit Balances 15,000 By Capital Amt 65,000 45,700 By Bills Payable 6,000 To Wages 9,900 By Outstanding Salaries 1,700 To Investment 3,500 By Sales 79,800 To Carriage outwards 4,600 By Creditors 12,000 To Printing and Stationary 3,400 By Bank Overdraft 3,000 To Insurance 750 To Salary 10,000 To Postage and telegram 700 To Machinery 26,800 To Furniture 6,400 To Debtors 25,000 To Bills Receivable 4,000 To Cash at Bank 6,000 To Advertisement 1,000 To Bad debts 250 To Carriage inwards 4,500 1,67,500 1,67,500 10 Adjustments: 1) Closing stock 40,200 2) Goods destroyed by fire 4,000, insurance company admitted claim for * 3,200 3) Prepaid insurance premium 250 4) On 1st April 2016 purchased machinery and paid transport, octroi *1,000 but included in carriage inwards. 5) Depreciate machinery by 10% and furniture by 15% 6) Outstanding expenses: wages *2,100. From the above information and adjustment prepare Trading and Profit and Loss account for the year ended 31st March, 2017 and Balance Sheet on that date. (GP=47,800, NP-22,810, B/s =1,12,610)