Prepare trading account and profit and loss account for the year ending 31st December 2016

and
Balance Sheet as on that date with the help of the following Trial Balance and adjustments given.

Particulars Debit (Rs.) Credit (Rs.)

Purchases 74,000
Sales 5,69,000
Sales Returns 4,400
Opening Stock 20,600
Wages 4,600
Carriage inwards 2,300
Carriage outwards 4,600
Rent 8,000
Audit fee 5,500
Buildings 82,000
Commission 2,400 6,500
Discount 4,700
Postage 7,500
Stationery 2,100
Bad debts 2,000
Telephone 5,900
Purchase returns 4,500
Coal & Water 1,500
Furniture 40,000
Legal fees 2,500
Creditors 1,20,000
Debtors 54,000
Overdraft 80,000
Manikanths capital 4,50,000
Bills Receivable 3,81,700
Cash 5,74,100
Bills Payable 45,000
12,79,700 12,79,700
Adjustments:

1. Value of closing stock on 31st December 2016 Rs.55,000

2. Depreciate furniture at 10% per annum
3. Outstanding rent Rs.2,500
4. Prepaid audit fee Rs.500
5. Motor vehicle purchased from Raghav Motors unrecorded in books Rs.1,20,000
6. Write off further bad debts Rs.3,000