Q1.From the following Trial Balance of M/s Das Stores, you are required to prepare Income Statement for the year ended on 31st March, 2021 and a Statement of Financial Position as at that date taking adjustments into consideration: (Marks : 5+5+5 = 15) Name of accounts DR (Rs) CR (Rs) 50000 10000 24000 16000 10000 300 3000 1000 1000 Capital Drawings Debtors Creditors Bank Loan Interest on loan Cash in hand Provision for bad debts Return Outward Wages Stock on 1.4. 2020 Computer Return Inward Cash at Bank Furniture Carriage Outward Carriage inward Salaries Rent Bad debts Purchases Sales Advertising Discount Insurance Premium Bills Receivable Bills Payable Commission 6000 16700 10000 2000 7500 20000 4500 5000 12000 8000 600 60000 116000 4500 2600 2000 10000 8000 1500 206100 206100 Adjustments: 1. Stock on 31st March, 2021 was valued at Rs. 19,400. 2. Interest on Bank loan is at 6% p.a. 3. Insurance Premium prepaid Rs. 500. 4. Salaries outstanding Rs. 1,200. 5. Wages Prepaid Rs. 1,200. 6. Provision for bad debts is to be maintained @5% on debtors. 7. Depreciate furniture at 5% and computer at 10%