Financial Accounting - Old Questions

20. The following trial balance of a trader as on 31 December 2018 given bellow

Additional information

- Closing stock found Rs.45,000

- Provide depreciation on computer and furniture by 10 percent.

- Prepaid insurance expired by 15,000

- Interest payable Rs.1,000

- Discount and commission receivable Rs.2,000

Required:

a. Trading account

b. Profit and loss account

c. Balance sheet [3+4+3=10]