Question

BOARD PROBLEMS
he following
1. Mr. Prabhakar is a retail trader. He had no proper meu
information is made available to you.
Particulars
He had no proper methods of accounting. But the follow
01.04.2009
31.03.2010
50,000
2012
February,
70,000
40,000
Sundry Debtors A
Sundry Creditors
Bank Overdraft L
Stock
Cash in Hand
Bills Receivable
Furniture
Motor Van
Computer
10% Government Bonds *
45,000
60,000
80,000
65,000
2,000
60,000
10,000
80,000
60,000
80,000
8,000
80,000
10,000
80,000
1,20,000
10,000
Adjustments :
1. On 1st October, 2009 Mr. Prabhakar had withdrawn 40,000 for his personal use.
2. 10% Government Bonds were purchased of 10,000 on 1st October, 2009.
3. He had also withdrawn 30,000 for his daughter's marriage.
Depreciate furniture by 10% and write off 2,000 from motor van.
2,000 is written off as bad debts and provide 5% R.D.D. on debtors.
Allow interest on capital @ 10% p.a.
Charge interest on drawings 2,000.
Prepare the following statements after taking into consideration the above adjustments :
Opening Statement of Affairs of 01.04.2009.
Closing Statement of Affairs of 31.03.2010.
Statement of Profit or Loss for the year ended on 31.03.2010.
Him & in on​

Answer 1

Answer:

lengthy problem......