Following Trial Balance as at 31st March, 2019 is drawn form books of Dalip :
Considering the following adjustments, prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and a Balance Sheet as at that date. Also, pass Journal entries for the adjustments :
(i) Closing Stock rs 9,00,000.
(ii) Outstanding Salaries rs 32,000 and Outstanding Wages rs 20,000. Salaries and Wages are not subject to levy of GST.
(iii) Prepaid Insurance rs 9,000 and Accrued Commission rs 12,000. Prepaid Insurance and Accrued Commission are subject to levy of CGST and SGST @6% each.
(iv) Charge Depreciation on Mechinery @10% p.a.
