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The following balances were extracted from the books of account, for the year ended December 31, 2015.

Prepare final accounts for the year ended December 31,2005, with following adjustment: 

(a) Stock on December 31,2005, was Rs. 42,500. 

(b) A Provision is to be made for bad debts at 5% on debtors. 

(c) Rent outstanding was Rs. 1,600. 

(d) Wages outstanding were Rs. 1,200. 

(e) Interest on capital to be allowed on capital @ 4% per annum and interest on drawings to be charged @ 6% per annum. 

(f) Dinker and Ravinder are entitled to a Salary of Rs. 2,000 per annum

(g) Ravinder is entitled to a commission Rs.1,500. 

(h) Depreciation is to be charged on Building @ 4%, Plant and Machinery, 6%, and furniture and fixture, 5%. 

(i) Outstanding interest on loan amounted to Rs. 350.

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Balance Sheet as on 31.12.2015

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