BMT Question 4: Section III (18 Marks) The following trial balance have been extracted from bookkeeping records at 31st Dec. 2021 Sales Purchases Wages and salaries Office expenses Insurance Dr 210,500 18,700 2,500 1,100 600 Cr 293,100 onic gadgets NING INFO ned idi... Electricity Stationary Advertising Telephone Rates 2,400 3,500 800 3,000 Discount Allowed 300 Discount received Rent received for spare room 500 5,000 Returns inwards 3,500 Returns outwards 5,500 Opening Stock (as at 1.1. 2021) 50,000 Premises 100,000 Fixtures & Fitting 15,000 Debtors 54,000 Cash in hand 500 Creditors 18,500 Overdraft at bank 30,800 Capital 130,000 Drawings 17,000 Total 483,400 483,400 In addition, the following information is available Stock at 31st December 2021 valued at Insurance paid in advance 31st December 2021 Electricity accrued 31st December 2021 Advertising expenses accrued 31st December 2021 Rates Prepaid at 31st December 2021 57,000 400 300 200 600 Required: Prepare a Trading Profit & Loss Account (10 Marks) for the year ending 31st December 2021, and a balance sheet as at that data (8Marks), in horizontal or vertical format