962 Illustration 19 The accountant of M/s Kasturi Agencies extracted the following Trial Balance as on March 31, 2017. Particulars Dr.) Cr.) Particulars Dr.) Cr.) Capital 1,00.000 Stock as at 31.3.2017 32,000 Drawings 18,000 Establishment expenses 15,000 Building 15,000 Freight inwards 2.000 Furniture and fittings 7,500 Freight outwards 1,000 Motor van 25,000 Commission received 7,500 Loan from Hari @ 12% interest 15,000 Sundry debtors 28.100 Interest paid on above 450 Bank balance 20.500 Sales 1,00,000 Sundry creditors 10.000 Purchases 75,000 Stock as at 1.4.2016 25,000 TOTAL 2 28,550 2,68,500 The accountant located the following errors but is unable to proceed any further. (a) Totalling errors in bank column of payment side of Cash Book whereby the column was under totalled by 500. (b) Interest on loan paid for the quarter ending December 31, 20162 450, was omitted to be posted in the ledger. There was no further payment of interest. (c) Goods received, on sale or return basis from Suppliers Ltd on 30th March, 2017 at a 'Proforma Invoice cost of 5,000 have been recorded as purchase. (d) Income tax refund of 1,900 has been recorded as receipt from debtors. You are required to prepare the Trading and Profit and Loss Account for the year ended March 31, 2017 and the Balance Sheet as at that date, after carrying out the following: Depreciation to be provided on: Building @ 2.5%; Furniture and fittings @ 10% p.a.; Motor van @ 25% p.a