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Trial Balance as on 31st March, 2019 Debit Balance Amount Credit Balance Amount Land & Building 40,000 Capital A/c Sun 33,500 Moon 33,500 Furniture 18,000 Current A/c: Sun 6,000 Machinery 40,000 Sundry Creditors 25,000 (Purchased on 01/07/18) Bank Overdraft 10,000 Goodwill 2,000 Reserve Fund 5,000 Wages 2,000 Provident Fund 5,000 Current A/c: Moon 4,000 8% Debentures 8,000 (Purchased on (01/10/18) Providend Fund Investment 3,500 Stock of Postal stamps 500 1,18,000 1,18,000 Adjustments: 1. Partners are entitled to get salary 6,000 p.a. in additional to their profit & loss sharing. 2. Depreciation on Land & Building, Furniture & Machinery @10%, 5% and 3% respectively. 3. Interest on Capital 5% p.a. 4. Closing stock 60,743 5. Wages included 1,000 as advance given to workers. 6. Interest due but not paid 800. 7. Total Net Profit amounted to 38,113. Solutio
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