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Question No: 02 is a subjective question, hence you have to write your answer in the Text-Field given below. 2 This is mb21972 76262 The following is the Trial Balance of your organization for the year ended 31st December 2021. You are required to prepare the Statement of Income & Expenditure and Statement of Sources & Application of Funds considering 2 the adjustments given below. [Marks:15.00] Trial Balance for the year ended 2021 Dr. Cr. Particulars Rs. Particulars Rs. Cash in Hand 500 Sales 1,50,300 Cash at bank 1,200 Purchase Returns 5,000 Office Furniture 6,000 Accounts Payable 12,000 Accounts Receivables 15,000 Bills Payable 8,000 Commissions 1,200 Discount received 1,000 Bills Receivable 3,500 Dividend received 2,000 Power and Fuel 6,000 Rent Received 3,500 Equipment 24,000 Capital 27,000 Office expenses 2,000 Question No: 02 202 Cash in 1972 Cash at bank Office Furniture Accounts Receivables 762 Commissions ns22 Bills Receivable Power and Fuel Equipment Office expenses Carriage inwards Carriage outwards Rent, Rates and Taxes Leasehold Premises Wages Salaries Opening Inventory Sales Returns Purchases Drawings by the owner 500 1,200 6,000 15,000 1,200 3,500 6,000 24,000 2,000 1,200 3,500 1,700 25,000 30,000 7,000 12,000 2,000 60,000 7,000 2,08,800 Sales Purchase Returns Accounts Payable Bills Payable Discount received Dividend received Rent Received Capital 1,50,300 5,000 12,000 8,000 1,000 2,000 3,500 27,000 2,08,800 | Carriage butwal us tridge-21972 5,500 Rent, Rates and Taxes 202 1,700 Leasehold Premises 25,000 30,000 76 Salaries Opening Inventory 7,000 12,000 Sales Returns 2,000 2 Purchases 60,000 Drawings by the owner 7,000 2,08,800 Adjustments: 1. Closing Inventory / consumables as on 31-12-2021, Rs.18,000. 2. Depreciate equipment at 10%. 3. Salaries outstanding Rs.1,000, Power & Fuel Outstanding Rs.2,000. 4. Rs.5,000 was spent on equipment but wrongly included in wages. 5. Provide provision for bad & Doubtful debts for Rs.1,500. 6. Discount earned but not received Rs.100. 7. Commission due but not recorded Rs.200. 8. Rent received includes Rs.500 received in advance. Question No: 02 2,08,800