Question

DIU
the year ended March 31, 2019.
1st April, 2017
31st March, 2018
₹ F
Stock in trade
₹
16,700
18.500
Sundry creditors
15,400
14,000
Sundry debtors
11,200
10,500
Cash in hand
250
1,200
Bank overdraft
20,200
19,400
Bills receivable
15,050
14,200
Furniture
1,500
1,500
Motor van
1,900
1,900
The drawings during the year amounted to * 2,600. Depreciate furniture by 10%, write off
300 of motor van. As regards the debtors, it is ascertained that 500 are irrecoverable and
a further reserve of 5% should be made. Also reserve 700 in respect of bills receivable.
16. A retail trader has not kept proper books of accounts, but from the following details, you are
required to ascertain the profit or loss for the year ended 31st March, 2018, and also prepare
a statement of affairs as at that date.​

Answer 1

Explanation:

DIU

the year ended March 31, 2019.

1st April, 2017

31st March, 2018

₹ F

Stock in trade

₹

16,700

18.500

Sundry creditors

15,400

14,000

Sundry debtors

11,200

10,500

Cash in hand

250

1,200

Bank overdraft

20,200

19,400

Bills receivable

15,050

14,200

Furniture

1,500

1,500

Motor van

1,900

1,900

The drawings during the year amounted to * 2,600. Depreciate furniture by 10%, write off

300 of motor van. As regards the debtors, it is ascertained that 500 are irrecoverable and

a further reserve of 5% should be made. Also reserve 700 in respect of bills receivable.

16. A retail trader has not kept proper books of accounts, but from the following details, you are

required to ascertain the profit or loss for the year ended 31st March, 2018, and also prepare

a statement of affairs as at that date.

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