Final accounts || Problem no 4

Also watch the following videos: 1.Meaning of final accounts: https://www.youtube.com/watch?v=9olRkMQSTc8 2.About Trading a/c and Profit and loss a/c: https://www.youtube.com/watch?v=QMTSBg5Jh8A 3.About balance sheet: https://www.youtube.com/watch?v=ZH9AMVwW9uY 4.Adjustment meaning : https://www.youtube.com/watch?v=_XP1tVVIynQ 5.Bad debts: https://www.youtube.com/watch?v=iJ-Uksqjpog 6.Provision for reserve on doubtful debts: https://www.youtube.com/watch?v=ykgZM4PO-Gk problem no 1: https://youtu.be/DDqvygitvY8 problem no 2: https://youtu.be/nYR-hUXgJtU problem no 3: https://youtu.be/SX8svFT-8zk Question: Problem no 4: From the following trial balance of M/s Son’s Traders, prepare Trading , Profit & Loss a/c and Balance sheet for the year ended 31.3.2018: Trial balance as on 31.03.2018 Debit Balances Amount Credit Balances Amount Purchases 20,000 Sales 52,000 Salaries 5,000 Creditors 18,500 Wages 7,800 Capital 30,000 Buildings 24,000 Interest Received 2,000 Carriage on Purchases 400 Bills Payable 5,200 Gas, Coal & Water 200 Bank Overdraft 5,500 Office Expenses 600 Outstanding Rent 800 Commission 300 Debtors 25,000 Opening Stock 6,000 Machinery 12,000 Insurance 400 Bank Balance 4,000 Bills Receivable 2,000 Cash 1,300 Furniture 5,000 1,14,000 1,14,000 Adjustments: 1. Closing Stock : rs 7 9,000. 2. Outstanding Salaries : rs 1,000 3. Prepaid Insurance: rs 100. 4. Create 5% Provision for Bad Debts. 5. Depreciation on Furniture : rs 200 and on Machinery : rs 600. 6. Outstanding Wages : rs 1,200.