Question

draw up meh moods balance sheet from the following as December 1

Cash at bank
Accounts Receivable
Accounts Payable
Equipment
Inventory
Capital
Drawing
Investment
Motor Cycle
Loan Payable
14,000
35,000
39,000
30,000
70,400
1,70,000
14,000
20,000
45,600
20,000​

Answer 1

Ans:

Cash in hand 70,000

Stock 80,000

Bills receivable 1,00,000

Debtors 1,50,000

Creditors 60,000

Bills payable 10,000

25.

Which values are affected, when accounts are maintained on single entry system basis.