Mr. Neel has prepared the following Trial Balance from his Ledger as on 31st March, 2017. Particulars Debit ? Credit Stock as on Ist April, 2016 5,00,000 Purchases and Returns 31,00,000 45,000 Sales and Returns 55,000 41,50,000 Cash in Hand 2,50,000 Cash at Bank 5,00,000 Trader's Capital Rates and Taxes 22,59,200 Drawings 50,000 Salaries 45,000 Postage and Telegram 95,000 Insurance 1,05,000 Salesman Commission 90,000 Printing and Stationery 78,000 Advertisement 95,500 Furniture and Fittings 1,70,000 Motor Car 5,50,000 Discounts 48,000 General Expenses 50,000 Carriage Inward 65,700 Carriage outward 10,000 75,000 Wages 22,000 Sundry Debtors 50,000 Creditors 10,00,000 4,00,000 69,29,200 69,29,200 You are required to prepare Trading and Profit & Loss Account for the year ended on 31st March, 2017 and Balance Sheet as on that date after making the necessary adjustment: 1. Closing Stock as on 31st March, 2017,1,45,000 2. Neel has withdrawn goods worth 50,000 during the year 3. Purchases include purchase of furniture worth?1,00,000 4. Debtors include 50,000 ofbad debts. 5. Sales include goods worth ?1,50,000 sent out to NN & Co. on approval and remained unsold as on 31st March, 2016. The cost of goods was?1,00,000 6. Provision for bad debts is to be created at 5% of Sundry Debtor 7. Depreciate Furniture and Fittings by 10% and Motor Car by 20% 8. The salesman is entitled to comission of 10% on total sales