TD. Opening stock TO Purchase The following is the trail balance of a trading concern on 31st Dec. Debit Rs. Credit Rs. 70,000 Sales 105,000 TC 30,000 Reserve for bad debts 6,500P.L Insurance prepaid. 2,000 Creditors 120,000 CL. Wages. 3,000 Bank overdraft 20,000 CL PL:D Salaries 4,000 20% Loan 30,000 L.TBL-D I'LA Commission 2,500 Capital 50,000 B S 9p PO Trade expenses 4,500 C.A.Bills receivable 100,000 CA Accrued income 9,000 Bad debts.l.de 3,500 FA Land and building. 95,000 PL D Interest on loan 6,000 PLD. Carriage outward 1,500 500 TD. Carriage inward. Total 331,500 Total 331,500 Additional Information: T.C. i. Stock on 31st December was Rs. 35,000. not add ii. A fire occurred on 25th Dec. in the store and stock valued Rs 5,000 was destroyed, insurance company admitted only Rs 2,500 claim receivable 85-admi tred of insurance from Billstone iii. Outstanding wages Rs. 500./+T / Current liabil hess current, assels of naa PL DE iv. Bad debts Rs. 1,000.- Bills rece, debtors / Insurance premium expired to the extent of Rs. 500. (-7 hess-asset / PL - Debil Required: Trading account b. Profit and loss account Balance sheet Ans: (a) GP Rs. 41,000 (b) NP Rs. 21,500 (c) B/S Total Rs. 2,42,000 dh as on 31 st Chaitra 2075. 2500 allia- PLO V. a. c