From the Following Trail balance of Alex and Co prepare Trading and profit and loss Account and Balance sheet as on 31st December 2010. (Marks 15) Credit Sales Capital Purchase discount Creditors Amount 11439 18390 627 12408 Debit Machinery Debtors Bank Stock opening Purchases Drawing Carriage Wages Salaries Insurance General expenses Bad debts Amount 12000 10690 3151 2920 9092 250 600 1910 1300 119 132 700 TOTAL 42864 TOTAL 42864 Adjustments 1. Closing stock $ 7928. 2. Depreciate Machinery by 5%. 3. wages outstanding $ 300