Question

Mr. Sanjeev maintains books on single entry, who gives you the following information 37-3-2078 31-3-2019 Bank balance 600 1.000 Cash in hand 100 ISO Stock of goods 5.000 OXO Sundry Debtors 6.000 40XX Furniture 2.000 2000 Building 10.000 10 000 Sundry Creditors 3.500 4.000 Sanjeev introduced fresh capital 5000 on the 1st of July, 2018, and had withdrawn 2.500 dunne the year. Interest on capital is to be allowed at 10% per annum. Write off depreciation on building as and on furniture at 10%. A provision of 5% on sundry debtors is required. You are requested to find out Mr. Sanjeev's profit or loss for the year ending on 31st March, 2019 ns

Answer 1

Answer:

Mr. Sanjeev maintains books on single entry, who gives you the following information 37-3-2078 31-3-2019 Bank balance 600 1.000 Cash in hand 100 ISO Stock of goods 5.000 OXO Sundry Debtors 6.000 40XX Furniture 2.000 2000 Building 10.000 10 000 Sundry Creditors 3.500 4.000 Sanjeev introduced fresh capital 5000 on the 1st of July, 2018, and had withdrawn 2.500 dunne the year. Interest on capital is to be allowed at 10% per annum. Write off depreciation on building as and on furniture at 10%. A provision of 5% on sundry debtors is required. You are requested to find out Mr. Sanjeev's profit or loss for the year ending on 31st March, 2019 ns