Extracted text: The following Trial Balance of Shri Om, as on 31st March, 2018. You are requested to prepare the Trading and Profit and Loss Account for the year ended 31st March, 2018 and a Balance Sheet as on that date after making the necessary adjustments:- Particulars Dr. () Cr.() Sundry Debtors/Creditors 5,00,000 2,00,000 Outstanding liability for Expenses Wages Carriage Outwards 55,000 1,00,000 1,10,000 Carriage Inwards General Expenses Cash Discounts Bad Debts Motor Car 50,000 70,000 20,000 10,000 2,40,000 Printing and Stationery 15,000 Furniture and Fittings Advertisement 1,10,000 85,000 Insurance 45,000 Salesman's commission Postage and Telephone Salaries 87,500 57,500 1,60,000 Rates and Taxes 25,000 Capital Account/Drawings 20,000 14,43,000 Purchases/Sales 15,50,000 19,87,500 Opening Stock Cash at Bank Cash in Hand 36,30,500 The following adjustments are to be made: (a) Closing Stock was valued at 7,25,000. (b) A Provision for Doubtful Debts are to be created to the extent of 5 percent on Sundry Debtors. (c) Depreciate-Furniture and Fittings by 10%, Motor Car by 20%. (d) Shri Om had withdrawn goods worth 25,000 during the year. (e) On 31st March, Goods for 75,000 were sent to a customer on 'Sale or Return' basis at a profit of 50% on cost and recorded as actual sales. (0 The Salesmen was entitled to a Commission of 5% on total sales. (g) Debtors include 25,000 bad debts. (h) Printing and Stationery expenses of '55,000 relating to previous year had not been provided in that year but was paid in this year by debiting outstanding Liabilities. (1) Purchases include purchases of Furniture worth 50,000.