Kajol and Sunny were partners sharing profits and losses in the ratio of 3:2. The following Balances were extracted from the books of account for the year ended March 31, 2015. Account Name Debit Amount Rs Credit Amount Rs Capital Kajol 1,15,000 Sunny 91,000 Current accounts [on 1-04-2005*] Kajol 4,500 Sunny 3,200 Drawings Kajol 6,000 Sunny 3,000 Opening stock 22,700 Purchases and Sales 1,65,000 2,35,800 Freight inward 1,200 Returns 2,000 3,200 Printing and Stationery 900 Wages 5,500 Bills receivables and Bills payables 25,000 21,000 Discount 400 800 Salaries 6,000 Rent 7,200 Insurance premium 2,000 Traveling expenses 700 Sundry expenses 1,100 Commission 1,600 Debtors and Creditors 74,000 78,000 Building 85,000 Plant and Machinery 70,000 Motor car 60,000 Furniture and Fixtures 15,000 Bad debts 1,500 Provision for doubtful debts 2,200 Loan 25,000 Legal expenses 300 Audit fee 900 Cash in hand 7,500 Cash at bank 12,000 5,78,100 5,78,100 Prepare final accounts for the year ended March 31,2015, with following adjustments:(a) Stock on March 31,2015 was Rs37,500.(b) Bad debts Rs3,000; Provision for bad debts is to be made at 5% on debtors(c) Rent Prepaid were Rs1,200.(d) Wages outstanding were Rs 2,200.(e) Interest on capital to be allowed on capital at 6% per annum and interest on drawings to be charged 5% per annum.(f) Kajol is entitled to a Salary of Rs 1,500 per annum.(g) Prepaid insurance was Rs 500.(h) Depreciation was charged on Building, 4%; Plant and Machinery, 5%; Motor car, 10% and furniture and fixture, 5%.(i) Goods worth Rs 7,000 were destroyed by fire on January 20,2015. The Insurance company agreed to pay Rs 5,000 in full settlement of the claim.*As per the question, this year should be 01-04-2014