SHYAM LIMITED MONTH END ADJUSTMENTS ADJUSTED TRIAL BALANCE The following information are the balances extracted from the books of Shyam Ltd. for the month ended 31 December 2019 NAME OF ACCOUNTS Dr. Balance Cr. Balance 8,000 15.000 4.000 22.000 1.200 36,000 Opening stock Buildings Debtors Purchases Salaries Sales Discounts Sales returns Furniture Office expense Wages Purchase returns Interest Travelling expenses Insurance Machinery Carriage on purchases Commission Cash in hand Rent and rates Capital Creditors 800 1.000 3.000 300 600 600 500 400 8.000 800 600 2.400 25,000 8.000 70,100 70.100 Following adjustments need to be made: a) Closing stock was valued at 9,000 b) Office expenses: 2,000 and wages: 300 are outstanding c) Depreciate building by 2%, machinery by 10% and furniture by 20% d) Prepaid Insurance: 100 Required: 1. Calculate the cost of Goods Sold 2. Prepare Adjustment Journals for the month of December 2019 3. Prepare Adjusted Trial Balance as on 31 December 2019