prepare the statement of income and expenditure and statement of sources and application of funds considering the adjustment given below.

adjustments 1. closing inventory / consumables as on 31-12-21, Rs 18000

2. Depreciate equipment at 10%

3. salaries outstanding rs 1000, power and fuel outstanding rs 2000.

4. Rs 5000 was spent on equipment but wrongly included in wages.

5. provide provision for bad and doubtful debts for rs 1500.

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.

Particulars Cash in Hand Cash at bank Office Furniture Accounts Receivables Commissions 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 Rs. 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 Particulars Sales Purchase Returns Accounts Payable Bills Payable Discount received Dividend received Rent Received Capital Rs. 1,50,300 5,000 12,000 8,000 1,000 2,000 3,500 27,000