- From the following Trial Balance of Mr. Kedar, Prepare Trading & Profit & Loss Account for the year ended 31st March,2020 and Balance Sheet as on that date in vertical format -

Debit Balances

Rs.

Credit Balances

Rs.

Opening Stock

16,000

Sales

1,32,000

Purchases

1,12,000

Creditors

24,200

Trade Charges

4,320

Discount

2,400

Salaries

6,200

Sundry Receipts

4,840

Rent

3,600

Share Capital

1,00,000

Stationery

1,250

Carriage Outward

450

Discount Allowed=2,400

Debtors=84,000

Furniture=8,000

Cash at Bank=24,200

Cash in Hand=1,020

Debit balance =2,63,440

Credit balance =2,63,440

Adjustments:

1.Closing Stock on 31st March,2020 was Rs.20,000.

2. Provide for trade charges due Rs.1,200.

3. Write off Bad Debts Rs.1,000.

4. Depreciate Furniture by 10% p.a.