Mrs. Surabhi started business on April 01, 2016 with cash of Rs 50,000, furniture of Rs 10,000, goods of 2,000 and machinery worth 20,000. During the year she further introduced Rs 20,000 in her business by opening a bank account. From the following information extracted from her books, you are required to prepare final accounts for the ended March 31, 2017
Accounts from incomplete Records
Receipt from debtors =Rs 57,500
Cash sales = Rs 45,000
Cash purchases =Rs 25,000
Wages paid =Rs 5,000
Salaries to staff =Rs 17,500
Trade expanses = Rs 6,500
Electricity bill of factory =Rs 7,500
Drawings of Surabhi = Rs 3,000
Cash paid to creditors = Rs 42,000
Discount allowed = Rs 1,200
Discount received = Rs 3,000
Bad debts written-off = Rs 1,300
Cash balance at end of year = Rs 20,000
Mrs. Surabhi used goods worth 2,500 for private purposes, which is not recorded in the books. Charge depreciation on furniture `10%` and machinery `20%` p.a. on March 31, 2017 her debtors were worth 70,000 and creditors Rs 35,000, stock in trade was valued on that date at Rs 25,000.