Mr.michel started business on 1st January 2019 and form the following trail balance prepare. Trading profit and loss account and balance sheet as on 31st December 2019. Dr Amount Cr amount Cash Machinery Debtors Stock 1st January 2019 Bills receivalble Salaries Rent Wages Purchases Sales return Drawing 5000 20000 12000 10000 4000 15000 2000 3000 36000 1000 2500 Sales Capital Creditors Purchase return 50000 30500 28000 2000 total 110500 total 110500 Adjustments 1.closing stock 31st December 2019 was $250000 2.depreciative machinery by 10% 3.salaries outstanding $3000

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