Name Subjective Roll M Marks (35) Prepare the trading profit and loss account of M/s Mohit Traders as on 31 March 2014 and draw necessary Journal entries and balance sheet as on that date: Debit Balances Amount Credit Balancer. Amount Re Opening stock 24,000 Sales FOL 4,00,000 Purchases 1.60,000 Return outwards 2,000 Cash in hand 16,000 Capital 1,50,000 Cash at bank 32,000 Creditors 64.000 Return inward 4,000 Bills payable 20,000 Wages 22.000 Commission received 4,000 Fuel and Power 10,000 Carriage inwards 6.000 Insurance 8,000 Buildings 1,00,000 Plant 80,000 Patents 30,000 Salaries 28,000 Furniture 12,000 Drawings 18,000 Rent 2,000 Debtors 80,000 6,40,000 5,40,000 Adjustments 1. Salaries outstanding 2. Wages outstanding 12,000 6,000 3. Commission is accrued 2,400 4. Depreciation on building 5% and plant 3% 5. Insurance paid in advance 700 6. Closing stock 12.000