Question

Mr. A does not keep proper records. From the following information find
out profit for the year ended 31st March 2016 and also prepare a final
statement of affairs as at that date:
Particulars 31.316
31.3.15
Cash in hand
24000
6,000
Band OD
30,000
Stock
80,000 50,000
Creditors
40,000 26,000
Debtors
1,40,000 60,000
Bill payable 12,000 6,000
Furniture
60,000 40,000
Bill receivable 28,000
8000
Machinery 1,00,000 50,000
Investments
80,000 30,000
Drawings 10,000 p.m for personal, fresh capital introduced during the
year 2,00,000. A bad debs of 2,000 and a provision of 5% is to be
made on debtors. O/S salary * 2400. Prepaid insurance * 700,
depreciation charged on furniture and machine @ 10% p.a.

Answer 1

Answer:

crop only 1 question

Explanation:

not right