48. Following balances are extracted from books of Star Ltd. Prepare Final accounts of the companyas per schedule - Ill of Companies Act, 2013BalancesAmount (Rs.)Interest due but not received20,000Office and sales expenses40,000Sales16,00,000Salary30,000Wages40,000Purchase7,10,000Franchise10,00,000Preference Share Capital10,00,000Bank overdraft34,000Cash credit50,000Workers accident compensation fund20,000Prepaid expenses20,000Unclaimed dividend4,00,000Advances to suppliers2,30,000Public deposit1,30,000Shares of X company (for 3 years)5,00,000Custom deposit2,25,000Creditors20,000Proposed dividend60,000Opening stock60,000Calls-in-arrears20,000Profit on sale of investments26,000Sale of scrap70,000Debtors23,000Interest on Public Deposit40,000Advertisement Campaign expenses written off1,00,000Fixed deposit with bank1,00,000Premium on Redemption of Preference Shares2,00,000Forfeited Shares account50,000Capital Reserve1,00,000Tools & Equipments5,00,000Provident Fund2,00,000P.F. Investments1,50,000Loose tools50,000Interest on Bank O D.1,000Plant-Machinery6,00,000Depreciation30,000Advertisement Campaign expenditure(to be w/o. in 5 years)5,00,000Cash on hand2.000Units of Mutual fund (for 6 months)10.0007% Debentures10,41,000Other information :1) Closing stock is Rs.50,000.ii) Make Provision for tax at 50% of net profit.​