On 31st October, 2016, Sanjay introduced Rs. 5,000 as further capital in the business and withdrew on the same date Rs. 2,000 forr personal use.
Depreciation is to be calculated on machinery @ 10% per annum. A provision for doubtful debts is to be created on sundry debtors at 5%. Goods taken for personal use amounted to Rs. 1,500. Also provide Interest on Capital at 10% per annum.
Prepare a statement showing the trading results for the year ended 31st March, 2017.
On 31st October, 2016, Sanjay introduced Rs. 5,000 as further capital in the business and withdrew on the same date Rs. 2,000 forr personal use.
Depreciation is to be calculated on machinery @ 10% per annum. A provision for doubtful debts is to be created on sundry debtors at 5%. Goods taken for personal use amounted to Rs. 1,500. Also provide Interest on Capital at 10% per annum.
Prepare a statement showing the trading results for the year ended 31st March, 2017.