Question

JU
28 Mrs. Bhavana
Bhavana keeps his books by Single Entry System. You're required to
are final accounts of her business for the year ended December 31,
13. Her records relating to cash receipts and cash payments for the above
period showed the following particulars :
Summary of Cash
Dr.
Receipts
Amount Payments
Cr.
Rs.
Amount
Opening balance of cash
Further capital
Received from debtors
Rs.
12,000 Paid to creditors
20,000 Business expenses
1,20,000
Wage paid
Bhavana's drawings
Balance at bank on
Dec. 31.2013
Cash in hand
1,52.000
53,000
12.000
30,000
15.000
35.000
7.000
1.52.000
The following information is also available:
Jan. 01. 2013
Dec. 31. 2013
Rs.
RS
Debtors
55.000
Creditors
85.000
22,000
Stock
35,000
29.000
Plant
70.000
10.00.000
Machinery
1,00,000
50,000
Land & Building
50.000
2.50,000
2.50,000
Investment
20.000
20,000
All her sales and purchases were on credit. Provide depreciation on plant
and building by 10% and machinery by 5%, make a provision for bad debts
by 5%.
Ans: Gross profit : Rs. 95,000 : Net profit : Rs. 41.250 : Total of balance
sheet: Rs. 5, 75,250].​

Answer 1

Answer:

Gross profit : Rs. 95,000 : Net profit : Rs. 41.250 : Total of balance

sheet: Rs. 5, 75,250

Answer 2

Answer:

PLEASE REFER TO THE ABOVE ANSWER. IT'S CORRECT.

Explanation:

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