From the following Trial Balance and other information prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as at that date:
Stock on 31st March, 2018 was Rs. 1,24,500. Rent was unpaid to the extent of Rs. 850 and Rs. 1,500 were outstanding for General Expenses; Rs. 4,000 are to be written *** as bad debts out of the above debtors; and 5% is to be provided for doubtful debts. Depreciate Plant and Machinery by 10% and Business Premises by 2%. Manager is entitled to a commission of 5% on net profit after charging his commission.
