Ram does not keep proper records of his business. Following information is available from
records kept by him
Particulars 1-4-2009 31-3-2010
Cash
Bank
Debtors
Stock
Fixed Assets
Creditors
10% Loan
4,000
10,000 (Dr.)
18,000
26,000
30,000
20,000
10,000
5,000
2,600 (Cr.)
24,300
29,000
30,000
22,000
10,000
Ram withdrew Rs. 600 in the beginning of every month, for his household expenses. He gave
a loan to his brother Rs. 4,000 out of firm’s money.
Ascertain his profit or loss & prepare final settlement of account after considering the
following-
a) Interest on Loan due for 6 months.
b) Salaries were due not paid Rs. 600 but commission received in advance Rs. 400.
c) Depreciate fixed assets by 5%.
d) Bad Debts Rs. 300 & create provision for Bad Debt on Debtors @ 5%.
e) Interest on Drawings was charged @ 6% p.a.
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Answer:
uska marzi uska buisness tera ghat kahe gal ra
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