Following is the Trial Balance as on 31st March, 2018. Prepare Trading and Profit and Loss Account and Balance Sheet:
You are to make adjustments in respect of the following:
(a) Depreciate Machinery at 10% p.a.
(b) Make a provision @ 5% for Doubtful Debts.
(c) Provide discount on debtors @ 2
%.
(d) Rent includes Rent deposit of Rs. 400.
(e) Insurance Prepaid Rs. 120.
