0444 Assignment No 2 Solution 2022-Autumn AIOU-Q 1 Ans-Advance Accountingbr br Questionbr The Yasir Corporation was registered with a nominal Capital of Rs. br 1,200,000 divided into equity shares of Rs. 10 each. On 31 March 2021 the following ledger balance were extracted from the company’s book: br Equity Share Capital up and Paid Up 920,000 10 Debentures 600,000 br Plant and Machinery 720,000 Sales 830,000 br Stock (1-4-2020) 150,000 5 Govt. Securities 120,000 br Fixtures 14,400 Reserve for Doubtful Debts 7,000 br Preliminary expenses 10,000 Sundry Creditors 100,000 br Freight and Duty 26,200 Sundry Debtors 174,000 br Goodwill 50,000 Buildings 600,000 br Wages 169,600 Bad debts 4,220 br Cash in hand 19,700 Commission paid 14,400 br Cash at bank 76,600 Salaries 29,000 br Director’s fees 11,480 Purchases 370,000 br Bills Payable 76,000 Interim dividend paid 15,000 br General Reserve 50,000 Rent 9,600 br Profit & Loss Ac (Cr) 1-4-2020 29,000 General Expenses 9,800 br Office Equipment 8,000 Debenture Interest 10,000 br The following adjustments were to be made:br i. The Stock on 31st March, 2021 was estimated at Rs. 200,000br ii. Final Dividend at 10 to be provided.br iii. Depreciation on Plan and Machinery at 10 and on Fixtures at 5br iv. Preliminary expenses to be written off br v. Rs. 30,000 were to be transferred to General Reservebr vi. The provision for bad debts to be maintained at 10 on sundry debtorsbr Required: br You are required to prepare the br (i) Trading and Profit and Loss br Account and br (ii) Profit and Loss Appropriation Account for the year ended 31st March 2021 and the br (iii) Balance sheet as on that date.