b41 Illustration 12 The following is the Trial Balance of Hari at 31st March, 2017 Particulars Particulars Hari's Capital Account 76,690 Bank Interest (Dr.) 1,100 Stock 1.4.2016 46,800 Printing and Stationery Expenses 14,400 Sales 3,89,600 Bank Balance 8,000 Returns Inwards 8,600 Discount Earned 4,440 Purchases 3,21,700 Furniture & Fittings 5,000 Returns Outwards 5,800 Discount Allowed 1,800 Carriage Inwards 19,600 General Expenses 11,450 Rent & Taxes 4,700 Insurance 1,300 Salaries & Wages 9,300 Postage & Telegram Expenses 2,330 Sundry Debtors 24,000 Cash Balance 380 Sundry Creditors 14,800 Travelling Expenses 870 Bank Loan @ 14% p.a. 20,000 Drawings 30,000 The following adjustments are to be made a) Included amongst the Debtors 3,000 due from Ram and included among the creditors 1,000 due to him b) Provision for Bad and Doubtful Debts be created at 5% and for Discount @ 2% on Sundry Debtors c) Depreciation on Furniture & Fitting @ 10% shall be written of d) Personal purchases of Hari amounting to 7 600 had been recorded in the purchases Day Book c) interest on Bank Loan shall be provided for the whole year f) Aquarter of the amount of Printing and Stationery Expenses is to be carried forward to the next year g) Credit purchase Invoice amounting to 400 had been omitted from the Books h) Stock on 31.03.2017 was 78,600 Prepare (1) Trading & Profit and Loss Account for the year ended 31.3.2017 and (ii) Balance Sheet as on 31st March, 2017