Prepare the Final Accounts of M/s Kabir for the Financial Year ending on 31st March 2021 from the following details and show working notes based on logical accounting practices. Also make a specific working note on Cash A/c.

(a) Opening Balances: Capital 1,00,000, Sundry Creditors 10,000, Building 30,000, Plant & Machinery 20,000, Stock 20,000 and Cash 40,000

(b) A Credit Sale of 10,000 (for a stock costing 5,000) was made, but the Debtor paid only 80% of the due amount. The book-keeper decided to charge the rest amount as Bad Debts. A Cash sale of 20,000 was made (for another lot of stock costing 10,000). Carriage Outward of 2,000 were also paid. There was no purchase of goods in the current Year due to covid crisis. However, the Creditors were paid in full.

(c) The Rent 1,200 for the next financial year was paid fully in advance in March 2021, besides the usual rent paid for the current financial year is 1200.

(d) Building is to be depreciated @ 20% pa, while Plant & Machinery is to be calculated @ 5% pa.

(e) BoD decided to transfer 50% of Profit to Retained Earnings as General Reserves and Rest show as profits. No decision was made on dividend. The Suspense Balance in the current financial years Balance Sheet shall be treated as Goodwill.