Rs.FinancialAccounting5.7333. On 31st December 1993, the Trial balance

1.	Rs.FinancialAccounting5.7333. On 31st December 1993, the Trial balance of Janakiraman & Co., was as follows:Rs.Credit BalancesDebit Balances1,00,000Opening Stock40,000 Capital (fixed)15,000Debtors30,000 Creditors7,500Bills Receivable15,000 Bills Payable450Carriage Inward1,500 Miscellaneous ReceiptsWages2,50013,000CommissionSalaries55010,000 Bad debts ProvisionTelephone1,000 Sales1,67,200Repairs350Purchases85,000Cash at Bank17,000Plant & Machinery65,800Furniture9,000Miscellaneous Expenses350Depreciation5,2002,93,2002,93,200The following additional information is to be taken into consideration:(1) Closing Stock amounted to Rs. 50,000.(ii) Bad debts provision to be equal to 1/4% of debtors.(iii) Interest on Capital to be provided for at 2.5% p.a.(iv) Provide outstanding liabilities:-Salaries- Rs. 2,500; Wages - Rs. 1,750; Rent - Rs. 7,500(v) It was discovered that stock sheets as on 31-12-1992 were over cast to theextent of Rs. 1,000.Prepare Trading & Profit & Loss A/c of the firm for the year ended 31st December1993 and a balance Sheet as at that date:
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Rs.FinancialAccounting5.7333. On 31st December 1993, the Trial balance of Janakiraman & Co., was as follows:Rs.Credit BalancesDebit Balances1,00,000Opening Stock40,000 Capital (fixed)15,000Debtors30,000 Creditors7,500Bills Receivable15,000 Bills Payable450Carriage Inward1,500 Miscellaneous ReceiptsWages2,50013,000CommissionSalaries55010,000 Bad debts ProvisionTelephone1,000 Sales1,67,200Repairs350Purchases85,000Cash at Bank17,000Plant & Machinery65,800Furniture9,000Miscellaneous Expenses350Depreciation5,2002,93,2002,93,200The following additional information is to be taken into consideration:(1) Closing Stock amounted to Rs. 50,000.(ii) Bad debts provision to be equal to 1/4% of debtors.(iii) Interest on Capital to be provided for at 2.5% p.a.(iv) Provide outstanding liabilities:-Salaries- Rs. 2,500; Wages - Rs. 1,750; Rent - Rs. 7,500(v) It was discovered that stock sheets as on 31-12-1992 were over cast to theextent of Rs. 1,000.Prepare Trading & Profit & Loss A/c of the firm for the year ended 31st December1993 and a balance Sheet as at that date:

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