The following information has been extracted from the trial balance of M/s Randhir Transport Corporation. Debit BalancesAmountCredit BalancesAmount(Rs)(Rs)Opening Stock40,000Capital2,70,000Rent2,000Creditors50,000Plant and Machinery1,20,000Bills payable50,000Land and Buildings2,55,000Loan1,10,000Power3,500Discount1,500Purchases75,000Sales1,50,000Sales Return2,500Provision for bad debts1,000Telegram and Postage400General Expenses50,000Wages4,500Salary2,500Insurance3,200Discount1,000Repair and Renewals2,000Legal Charges700Trade taxes1,200Debtors75,000Investment65,000Bad debts2,000Trade expenses4,500Commission1,250Travelling expenses1,230Drawings20,020¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯6,82,500––––––––––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯6,82,500–––––––––––––––––––– Adjustments : 1. Closing stock for the year was Rs 35,500. 2. Interest on drawing 6%, Interest on loan 5%, Interest on investments 4%. Or Below is given the Trial Balance of Mr. Ram as on 31st December, 2012. You are required to prepare Trading and Profit & Loss Account Sheet as on that date. ParticularsAmountParticularsAmount(Rs) (Rs) Opening Stock42,000Sales4,10,000Purchases2,00,000Sundry Creditors20,000Plant60,000Purchase Return8,000Salaries33,000Purchase Return8,000Wages44,000Bank24,000Discount2,000Capital1,50,000Rent27,500Interest on Investment's700Furniture(Inclusing Furniture ofSpecial Rebate800Rs 500 Purchased on 1st July,2012)20,000Carriage Inward5,800Carriage Outward8,200Sundry Debtors1,00,000Office Expenses6,600Cash in Hand5,400Investments14%p.a.10,000Insurance(Paid upto 30th April,2013)1,500Stock on 31st December,201260,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯6,21,000––––––––––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯6,21,000–––––––––––––––––––– Adjustments : 1. Create a provision for doubtful debts 5% on Debtors and 2% for discount on Debtors. 2. Provide up to date interest on investments. 3. Depreciate Plant by 10% p.a. and Furniture by 20% p.a.