{AO Code No. : 4003/N 17 Purchased goods for cash Rs. 4,000 19 Paid rent by cheque Rs. 1,000 21 Received cash from Y for 7,000. Allowed him discount Rs. 1,000 24 Paid to Z for Rs. 5,000. Discount received Rs. 1,000 27 Bought anew machine for Rs. 10,000 for cash 31 Deposited all cash in excess of Rs. 3,000 into bank Prepare the necessary journal entries, ledger account for the month of Dec. 2010 and atrial balance as on 315" Dec. 2010. 3. a) Discuss about the provisions of the Indian Company Act, 1956 regarding Preparation and presentation of final accounts. OR b) Following balances appeared in the ledger book as on December 31, 2010: Rs. Opening stock 21,500 Purchases 1,20,000 Closing stock 17,000 Sales 1,70,000 Returns inwards 5,000 Returns outwards 8,000 Freight 3,000 Capital 1,25,000 Rent 12,000 Discount (cr.) 5,000 Carriage 2,000 Debtors 35,000 Creditors 28,000 Cash in hand 4,000 Cash at bank (cr.) 9,000 Loan (cr.) 18,000 Interest on loan 1,800 Goodwill 8,000 Furniture 12,000