An unexperienced accountant prepared the following trial balance of Bang Vikas Ltd., for the year ending 31.12.2005. The cash in hand on 31.12.2005 was Rs 750. DetailsRsDetailsRsDepreciation on machinery33,000Authorised Capital: 60,000 shares of Rs 10 each6,00,000Calls in Arrear7,500Subscribed Capital4,00,000Land and Buildings3,00,0006% Debentures3,00,000Machinery2,97,000Profit and Loss Account (Cr.)13,625Interim dividend paid37,500Sundry Debtors87,000Stock on 1-1-200575,000Sales4,15,000Sundry Creditors40,000Sinking Fund75,000Bills Payable38,000Preliminary Expenses5,000Furniture7,200 Bank Balance39,900 Purchases1,85,000 Provision for Bad Debts4,375 Investments75,000 Salary and Wages99,300 Repairs4,300 Fuel2,500 Rates and Taxes1,800 Travelling Expenses2,000 Discounts6,400 Director’s Fees5,700 Bad Debts2,100 Debenture interest9,000 Carriage1,800 Freight8,900 Sundry Expenses2,350 Public Deposits10,000 12,95,625 12,95,625 After locating the mistakes and making the following adjustments prepare trading and profit and loss account and balance sheet in the prescribed form.Adjustments: (i) Stock on 31.12.2005 Rs 95,000 and (ii) Write-off preliminary expenses.