Illustration 11
From the following Trial Balance of Pravin \& Sons prepare Trading Account, Profit \& Loss Account for the year ended on 31 st, March 2019. and Balance Sheet as on that date.
Trial Balance as on 31st March, 2019
Adjustments :
1) Closing Stock is valued at \( ₹ 84,000 \)
2) Wages include \( ₹ 800 \) being advance given to workers.
3) Outstanding expenses Salaries \( ₹ 3,600 \) and Rent \( ₹ 3,000 \)
4) Write off \( ₹ 2,000 \) as bad debts, and create a provision for doubtful debts \( 3 \% \) on Debto
5) Amount of Machinery is reduced to \( ₹ 48,000 \)
6) Charge Interest on Capital 5\% p.a.
