Question

10 S.No. 13896 TA

Ramesh keep his books on single entry basis. Prepare a

statement of affairs as on 31.10.2002 and a statement of profit

(or) Loss for the period ending 31.10.2002.

Assets and liabilities 1.11.2001 31.10.2002

Bank balance 560 (cr.) 350 (cr.)

Cash on hand 10 50

Debtors 4,500 3,600

Stock 2,700 2,900

Plant 4,000 4,000

Furniture 1,000 1,000

Ramesh had withdrawn Rs. 2,000 during the year and had

introduced fresh capital of Rs. 4,200 on 1.7.2002. A provision of

5% on debtors is necessary. Write of depreciation on plant at

10% and furniture at 15%. Interest on capital is to be allowed at

5%.

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Answer 1

Answer:

2002 and a statement of profit (or) Loss for the period ending 31.10.2002. Assets and liabilities 1.11.2001 31.10.2002. Bank ...

Explanation:

10 S.No. 13896 TA

Ramesh keep his books on single entry basis. Prepare a

statement of affairs as on 31.10.2002 and a statement of profit

(or) Loss for the period ending 31.10.2002.

Assets and liabilities 1.11.2001 31.10.2002

Bank balance 560 (cr.) 350 (cr.)

Cash on hand 10 50

Debtors 4,500 3,600

Stock 2,700 2,900

Plant 4,000 4,000

Furniture 1,000 1,000

Ramesh had withdrawn Rs. 2,000 during the year and had

introduced fresh capital of Rs. 4,200 on 1.7.2002. A provision of

5% on debtors is necessary. Write of depreciation on plant at

10% and furniture at 15%. Interest on capital is to be allowed at

5%.

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