Following is the Trial Balance of Anand, a sole proprietor :

Taking into consideration the following adjustments, prepare Trading and Profit and Loss Account for the year ended 31st March, 2019 and Balance Sheet as at that date:
(i) Closing Stock at market price as on 31st March, 2019, rs 80,000. However, its cost was rs 70,000.
(ii) Provide Depreciation on Machinery @ 10%.
(iii) A fire occurred on 1st April, 2019 destroying goods costing rs 5,000.
(iv) The car was sold at book value on 1st April, 2018 and sale proceeds were taken for personal use by Anand -which was left unrecorded.

Explanation