Megha a fresh management graduate has recently joined TCF Itd. She was asked by the Chief Accountant of the firm to prepare the Trial Balance for the year ended 31st March 2017. Megha extracted the balances from the ledger accounts of the company and put them in the Trial Balance. She is pleased with fact that the total of both the sides of the Trial Balance has almost tallied. The Chief Accountant however is not satisfied because the Trial Balance has to exactly match due to double-entry bookkeeping system being followed. You are requested to help Megha in preparing corrected Trial Balance and balance sheet. (10+10=20 Marks) The Trial Balance prepared by Megha is given below: Trial Balance of TCF as on 31st March 2017. Interest Charges 66,550 Salaries 532,600 Electricity Expenses 35,368 Rent Paid 199,660 Phone 24,657 Sales Returns 399,300 Commission Paid 199,660 Purchase 8,319,200 Quicforce Trial Balance of TCF as on 31st March 2017. Time left 1:57 Salaries 532,600 Interest Charges 66,550 Electricity Expenses 35,368 + Rent Paid 199,660 Phone 24,657 Sales Returns 399,300 Commission Paid 199,660 Purchase 8,319,200 Insurance Premium 74,420 Opening Stock 402,000 Bad Debts 66,560 Debtors 1,796,950 33,000 Sales 10,715,129 Provident Fund deducted from Salaries Cash 56,647 Bank 303,500 Loan from Bank 1,265,000 Furniture 332,768 Creditors 1,331,800 Machinery 732,089 1,700,000 Building 1,897,000 Capital