Debit balance Rs. Credit balance Rs. 20,000 Capital 10,000 Sales 10,000 Bank overdraft 64,000 1.10,000 10,000 on Opening stock Furniture Drawings 1/4/2015 Purchases Bad debts Carriage 5,000 6,000 2,000 Bank deposit Bank charges Coal, gas and water Trade expenses Rent, rates and taxes Debtors Total 95,000 Bad debts provision 2,000 Bills Payable 5,000 Apprenticeship premium 15,000 1,000 8,000 4,000 7,000 20,000 1,97,000 Total 1,97,000 Adjustments: 1. Closing stock Rs 10000. 2. Further bad debts Rs 2000. New Provision at 5% on debtors and discount on deb tors at 396 3. Interest on drawings at 6%. 4. Depreciate furniture at 10%. 5. Apprenticeship premium received in advance Rs 500. (Ans: Cross Profit Rs 8,000. Net Loss Rs 19,673. Balance Sheet Total Rs 50,227