Answer Happy

(b) The following balances were extracted from XYZ company on 315" December 2020. Debit (Rs.) Credit (Rs.) 18,100 78,200 3,600 12,000 2,500 9,500 1,200 2,060 1,500 Extracted Balance Capital Purchases Drawings Plant and Machinery (balance on 1st January 2020) Plant and Machinery (addition on 1st July 2020) Stock as at 19 January 2020 Return inwards Sundry Debtors Furniture and Fixtures Freight and duty Carriage outwards Rent, Rates and Taxes Printing and Stationary Trade expenses Sundry creditors Sales Returns outwards Postage and Telegrams Provision for Doubtful Debts Discounts Rent of premises for the year Insurance charges Salaries and wages Cash in hand Cash at Bank 200 50 2,460 380 540 4,000 98,000 300 80 40 180 720 270 3,130 620 3,050 1,213,40 1,213,40 Additional information: 1. Closing stock at 31st December 2020 was Rs.9,460 2. Write off Rs.60 as Bad Debts. 3. The provision for Doubtful Debts is to be maintained at 5% on Sundry Debtors. 4. Provide for depreciation on Furniture and Fixtures at 5% per annum and on Plant and Machinery at 20% per annum.