Sanjay is a small cloth merchant, who had not kept complete double entry records. His position on 1st April, 2016 and on 31st March, 2017 is as follows:
| Particulars | 1st April, 2016 (Rs.) | 31st March, 2017 (Rs.) |
| Cash in Hand | 13,000 | 12,000 |
| Cash at Bank | 15,000 | 18,000 |
| Debtors | 18,000 | 25,000 |
| Stock | 29,000 | 31,000 |
| Furniture | 5,000 | 6,000 |
| Machinery | 5,000 | 5,000 |
| Creditors | 18,000 | 25,000 |
| Outstanding Expenses | 1,500 | ... |
| Prepaid Insurance | ... | 400 |
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.
