From the following Trial Balance, prepare Trading Account and Profit and Loss Account for the year ending on 31st March, 2014 and Balance Sheet as on that date:
Adjustments:
(i) Closing stock Rs. 1,500
(ii) Depreciate machinery @ 5% p.a.
(iii) Make provision for bad and doubtful debts on debtors @ 5%.
(iv) Make reserve for discount on debtors @ 2%.
(v) Outstanding salary is Rs. 200.
