Accounting

1.From the following trial balance of Mr. Jaydeo, prepare Trading and Profit and Loss account for the year ended on 31st March, 2017 and Balance sheet on that date. Debit Balances Amount Credit Balances Amount Purchascs 1,09,000 Sundry creditors 45,600 Insurance 3,700 Sales 1,94,000 Rent, rates and Taxes 14,600 Bad debts reserve 2,000 Office expenses 7,300 Commission 5,500 Land and Building 3,00,000 Capital A/c 4,62,500 Plant and Machinery 60,000 Furniture 15,000 Carriage Inward 3,700 Sundry Debtors 88,000 Stock on 1.4.2013 32,800 Wages and Salary 28,600 Cash in Hand 4,700 Cash at Bank 40,200 Drawings: 2,000 7,09,600 7,09,600 Adjustments: 1. Closing stock value 522,600 2.Furniture purchased on 1st October 2012 of 10,000 wrongly included in Purchase a/c. 3.Depreciate Land and Building @ 10% p.a., Plant and Machinery @ 10% p.a. and Furniture @20% p.a. 4.Provide 5% RDD on sundry debtors