sheet is shown below :

sheet is shown below : Trading and Profit and Loss Account of Ankit for the year ended March , Cr. Expenses/Losses Revenues/Gains , , , , Add Outstanding wages , Gross profit c/d , , , , , Salaries , Gross profit b/d , Less Prepaid salary ( , ) Rent of building , Commission received , Add Accrued , commission Depreciation – Furniture Bad Debts , Add Further bad debts , , Net profit (transferred to , Ankit’s capital account) , , Balance Sheet of Ankit as at March , Liabilities Assets Owners Funds Non-Current Assets Add Profit , , Less Depreciation ( , ) , Non-Current Liabilities Current Assets Long-term loan , Less Further bad debts ( , ) , Current Liabilities and Provisions Prepaid salary Accrued commission Bank Outstanding Wages Cash Rent received in advance , ,