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4.From the following trial balance of Vikram Kant, as on 31 March, 2020, preparethe trading and profit and loss account and also prepare the balance sheet ason that date.DebitAdjusted PurchasesDiscount allowedDebtorsPlant and machinerybuilding 400000cash in hand 2000cash at bank32000wages 140000salaries 100000travelling expenses 15000freight 4000insurance 6000commission paid 3300 closing stock 21500 insurance prepaid 500 repairs 10000 interest on loan paid 4000Credit(₹3,20,000 Sales6,00,0002,400 Capital4,30,00019,300 Loans at 10 % (1-7-2019) | 1,00,0002,60,000 Creditors80,000 bills payable 70000 dividend received 60000 |
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