Question

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Prepare- 1. Closing Statement of Affairs
2. Statement of Profit or Loss for the year ended 31s
for the year ended 31st March, 2018
7. Mr. Suhas commenced his business with the Capital of 1.50.000 on 1st April, 2017. FIS
financial position was as follows as on 31st March 2018. Cash 20,000. Stock < 15,000, Debtors
< 30,000, Premises 90,000, Vehicles * 45,000. Creditors 18,500, Bills Payable < 10,000
Additional information;
1. He brought additional capital 10,000 on 30th Sept. 2017. Interest on capital is to be provided
at 5% p.a.
2. He withdrew 15,000 for personal use on which interest is to be charged at 5% p.a.
3. Write off Bad debts 500
Prepare- 1. Closing Statement of Affairs
2. Statement of Profit or Loss for the year ended 31.3.2018
Ganesh keeps his books by Single Entry Method. Following are the details of his​

Answer 1

HEYA MATE YOUR ANSWER IS

position was as follows as on 31st March 2018. Cash 20,000. Stock < 15,000, Debtors

< 30,000, Premises 90,000, Vehicles * 45,000. Creditors 18,500, Bills Payable < 10,000

Additional information;

1. He brought additional capital 10,000 on 30th Sept. 2017. Interest on capital is to be provided

at 5% p.a.

2. He

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Answer 2

Explanation:

position was as follows as on 31st March 2018. Cash 20,000. Stock < 15,000, Debtors

< 30,000, Premises 90,000, Vehicles * 45,000. Creditors 18,500, Bills Payable < 10,000

Additional information;

1. He brought additional capital 10,000 on 30th Sept. 2017. Interest on capital is to be provided

at 5% p.a.

2. He

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