- 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 -

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

Total credit =2,63,440

Total debit =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.