952 Illustration 7 Following is the Trial Balance of Mr H Basak as on 31.03.2017. You are required to prepare Trading and Profit and Loss Account for the year ended 31.3.2015 and Balance Sheet as on the same date: Debit Balance Credit Balance Opening Stock 10,000 Capital 1,66,000 Plant and Machinery 80,000 Sundry Creditors 20,000 Furniture 50,000 Sales 70,000 Drawings 10,000 Commission Received 1.600 Sundry Debtors 30,000 Wages 4.000 Salaries 6,000 Commission Paid 1,600 Purchases 40,000 bad Debts 7,000 Insurance 2,000 Cash in Hand 11,000 2,51,600 2,51,600 Additional information: (0) Stock as on 31.3.2017 16,000. (ii) Create a provision for doubtful debts @ 6% on Sundry Debtors and write off? 3,000 as further bad debts. (iii) Goods worth 12,000 were lost by fire and insurance claim of 8,000 was received. (iv) Wages include 400 for installation of plant. (1) Provide depreciation @ 15% on Machinery and 10% on Furniture