Trial Balance of Gopal as at 31st March, 2019 was as follows :
Prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance sheet as at that date following adjustments :
(i) Stock on 31st march, 2019 was Rs62,750.
(ii) Depreciation on furniture is to be charged @`10%`.
(iii) Sundry Debtors include an amount of Rs2,500 due from a customer who has become insolvent.
(iv) The remaining debtors are not considered to be doubtful of recovery.
(v) Goods costing Rs7,500 plus IGST@`12%` were destroyed by fire and insurance company admitted a claim for Rs 8,000
(vi) Received goods from Rahul & Co. of Rs 6,000 plus IGST @`12%` on 27th March. 2019 but the invoice of purchase was not recorded in the Puchases Book.
