The trial balance of Ramesh Vyas as on 31st March, 2016 was as follows: Name of AccountsDebit Balance (Rs.)Credit Balance (Rs.)Purchases/Sales81,25,2501,26,20,000Provision for Doubtful Debts 2,60,000Sundry Debtors/Sundry Creditors25,10,000 15,26,300Bills Payable 1,97,500Opening Stock13,36,250Wages11,56,850Salaries2,78,750Furniture 3,62,500Postage 2,11,300Power and Fuel 67,500Trade Expenses 2,91,550Bad Debts 26,250Loan to Ram 10% (1st December, 2015) 1,50,000Cash in Hand and at Bank 5,00,000Trade expenses Accrued but Not Paid 35,000 Drawings/Capital A/c 2,22,600 5,00,000Outstanding Wages 1,00,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,52,38,800––––––––––––––––––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,52,38,800–––––––––––––––––––––––––––– Prepare the trading and profit and loss account for the year ended 31st March, after taking into consideration the following information. (i) Stock on 31st March,2016 was Rs. 6,27,500. (ii) Depreciation on furniture is to be charged 10%. (iii) Provision for doubtful debt is to be maintained 5% on sundry debtors. (iv) Sundry debtors include an item of Rs. 25,000 due from a customer who has become insolvent (v) Goods of the value of Rs. 75,000 have been destroyed by fire and insurance company admitted a claim for Rs. 50,000. (vi) Received Rs. 60,000 worth of goods on 27th March, 2016 but the invoice of purchases was not recorded in purchases book.