Following Trial Balance were extracted from the books of Ram as on 31st March, 2018:
Prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as at that date after taking into account the following:
(a) Depreciation is to be written off as follows: Leasehold premises 5%. Plant and Machinery 10%.
(b) Write off Rs. 5,000 as further Bad Debts and make a Provision for Doubtful Debts equal to Rs.5,000.
(c) Wages amounted to Rs. 5,700 have become due but have not been paid.
(d) Wages include Rs. 10,000 incurred on installation of new machine. Machine was installed on 1st April, 2017.
(e) The value of stock on 31st March, 2018 was Rs. 1,49,200.
(f) Unexpired premium amount to Rs. 6,800 is to be carried forward to the next year.
