From the following balances of M/s Keshav Bros. You are required to prepare trading and profit and
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From the following balances of M/s Keshav Bros. You are required to prepare trading and profit and loss account and a balance sheet of March 31, 2005.
Adjustment (i) Provision for bad debts @ 5% and further bad debts Rs. 2,000.
(ii) Rent received in advance Rs. 6,000.
(iii) Prepaid insurance Rs. 200.
(iv) Depreciation on furniture @ 5%, plant and machinery @ 6%, building @ 7%.
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