Question

17. Aditya a retailer, has not maintained proper books of account but it has been possible to
obtain the following details:
Last Year)
Trade Creditors
6,270
5,000
Loan from Naresh
12.350
Stock
570
Cash in Hand
7,250
Shop Fittings
5,280
Trade Debtors
3,990
Bank Balance
Calculate the net profit for this year and draft the Statement of Affairs at the end of the
year after noting that:
(a) Shop Fittings are to be depreciated by 780.
This Year
5.890
5.000
11.980
650
7.800
4.560
4.130
(b) Aditya has drawn ? 100 per week for his own use. 5200 - Declings
+
(c) Included in the Trade Debtors is an irrecoverable balance of 270.
0 (d) Interest at 5% p.a. is due on the loan from Naresh but has not been paid for the ve​

Answer 1

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