Illustration V: From the following Trial Balance of Mr. Garg as on 31 March, 2006, prepare Trading Account, Profit and Loss Account and Balance Sheet. TRIAL BALANCE Debit Balance Rs. Credit Balance Rs. Stock on 1st April, 2005 500 Capital 2,000 Purchases 1,500 Sales 3,500 Land and Building 2,000 Sunday Creditors 750 Bills Receivable 300 Commission 50 Wages 300 Bills payable 300 Machinery 800 Loan 600 Carriage Inward 100 Carriage Outward 100 Power 150 Salaries 200 Discount Allowed 30 Drawings 100 Insurance Premium 20 Cash at Bank 500 Cash in Hand 100 Investments 500 7,200 7,200 Adjustments 1. Stock on 31st arch 2005 was valued 90 2. Provide depreciation on machinery 7.5% and 12.5% on land and building 3. Outstanding salaries amounted to 190 Activate Windo 100% + Adjustments 1. Stock on 31st arch 2005 was valued 90 2. Provide depreciation on machinery 7.5% and 12.5% on land and building 3. Outstanding salaries amounted to 190 4. Insurance premium paid in advance 75 5. Interest on capital is 12.5% 6. Interest on loan 5.500