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Q.4 The following balances are extracted from the books of Tanvir & Sons (20) Particulars Amounts Particulars Amounts 108,000 Sale 540,000 18,000 Sales Return 7,200 9,360 Discount Allowed 5,760 15,120 Discount Received 7,200 49,680 Taxes & Insurance 7,200 72,000 General Expenses 14,400 79,200 Salaries 32,400 64,800 Commission (Dr.) 7,920 3,600 Carriage 6,480 396,000 Bad Debts 2,880 You are required to prepare the Trading and Profit & Loss Account for the year ended on 30th June 2017 and Balance Sheet as at date. Closing Stock as on 30th June 2017 was Rs. Capital Drawings Furniture & Fitting Bank Overdraft Creditors Business Premises Stock on 1-7-2016 Debtors Rent (Cr.) Purchases 75,000 Q.5 Samina prepared a trial balance of her shop for the year ended on 31" March, 2009. The debit total of the trial balance was short by Rs. 9,145. She transferred the deficiency to a suspense account. In April 2009, after a close examination, she found the following errors: (20) a) Purchases day book for September 2008 was under cast by Rs.500. b) Sales day book of November 2008, was overcast by Rs. 5,000 c) A second hand computer purchased for office use for Rs. 4,050 was recorded in the office equipment account as Rs.405. d) A bill drawn by her for Rs. 20,000 was not entered in the bills receivable book e) A machinery purchased for Rs. 50,000 was entered in the Purchases day book. Pass the necessary journal entries to rectify the above errors to help Samina in finalizing the trial balance

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