The following is the trial balance of business as on 31st December 2017.ParticularsDr. AmountParticularsCr. AmountOpening stock18,000Sales2,20,000Purchases71,000Return outwards1,500Return…

The following is the trial balance of business as on 31st December 2017.ParticularsDr. AmountParticularsCr. AmountOpening stock18,000Sales2,20,000Purchases71,000Return outwards1,500Return inwards1,000Loan20,000Wages11,000Bills payable2,500Carriage on purchase2,500Capital40,000Printing and stationery3,000Discount received1,000Salaries2,800Insurance expenses8,000Plant & machinery120,000Debtors10,500Cash at bank11,600Rent expenses6,600Drawings3,000Furniture22,000Total2,85,000Total2,85,000Additional information: Closing stock is valued at Rs. 25,000. Depreciation on plant & Machinery @ 15% & on Furniture @ 10% Outstanding wages Rs. 4,000. Prepaid insurance Rs. 500. Prepare: a. Trading account b. Profit and loss Account c. Balance sheet as on 31st December 2019

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