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Question No. 2: The following Trial Balance was extracted for the books of Platinum Ltd. at 31 December, 2005 Share capital, authorized and issued: Rs. Rs. 16,000 Shares of Rs. 10 each 160,000 Freehold premises at cost 101,000 Plant and machinery at cost 40,000 Stock in trade at 1 January 2005 51,352 Balance at bank 4,289 Provision for Dep. plant and machinery I January 2005 20,000 Bad debts written off 820 Provision for doubtful debts at 1 January 2005 390 Directors remuneration 14,000 Debtors and creditors 17,492 13,298 Profit and loss account balance at I January 2005 12,448 Purchase & Sales 142,998 194,542 General expenses 6,242 Wages 19,285 Rent and rates 3,200 Rs 400,678 Rs.400,678 You are given the following additional information a) The provision for doubtful debts is to be increased to Rs. 500 b) Stock in trade at 31 December 2005 was Rs. 56,778 c) Wages outstanding at 31 December 2005 amounted to Rs. 482 d) Provision for depreciation of plant and machinery is to be made at the rate of 10% p.a on cost. e) Rent and rates amounting to Rs. 350 were paid in advance at 31 December 2005 f) The directors propose to pay a dividend of 5% on the issued capital and to transfer Rs. 60,000 to General Reserve