Following is the Trial Balance of Sanjeev as at 31st March, 2019:
You are required to prepare Trading and Profit and Loss Account for the year ending 31st March, 2019 and Balance Sheet as on that date, after considering the following adjustments:
(i) Stock at cost on 31st March, 2019 is Rs 13,600.
(ii) Mechinery is to be depreciated @`10%` and patents @`20%` .
(iii) Salaries for the month of March, 2019 of `Rs 3,000` were unpaid.
(iv) Insurance included a premium of Rs 170 for next year.
(v) Wages include Rs 4,000, spent on constructing a shed for employees and visitors.
(vi) Provision for Doubtful Debts is to be created to the extent of `5%` on Sundry debtors.
