961 Illustration 18 The following is the Trial Balance of Mr Mahesh as on 31.12.2016. Prepare a Trading and Profit and Loss Account for the year 2016 and the Balance Sheet as at 31.12.2016 from it: Particulars Dr. (3) Cr. (*) Purchases 1,80,000 Opening Stock 10,000 Salaries less PF 5,400 P.F. remittance incl. proprietor's contribution 50% 1,200 Rent @ 250 p.m. 2.750 Machinery 29,000 Wages 3,000 Furniture & fittings 5,000 Electricity 550 Trade expenses 1,500 Debtors 10,500 Interest on loan 900 Commission 200 Building 30,000 Sales 2,05,000 Loans (10% interest) 10,000 Creditors 15,000 Capital 55,000 Drawings 5,000 TOTAL 2,85,000 2,85,000 Adjustments: (1) On 1.1.2016 machinery worth 5,000 was sold for 4,000 and credited to Machinery Account. (2) Wages include *1,000 paid for machinery erection charges. (3) Purchases include cost of moped scooter for 5,000. (4) Proprietor has taken goods costing * 1,000 for which no entry has been made. (5) Sundry debtors include