Prepare Trading Account, Profit and Loss Account for the year ending on 31st December, 2007 and Balance Sheet as on that date of M/s Raman and Brothers from the following Trial Balance:
Value of closing stock on 31st Dec. 2007 was Rs. 12,000. Rs. 1,000 is to be provided as depreciation on machinery. Interest on capital is to be provided at 5%. Rs. 100 is to be paid for the repair.
