Question

Ramesh keeps his books on single entry basis. Prepare a statement of
affairs as on 31.10.2002 and a statement of profit (or) loss for the period
ending 31.10.2002.
Assets and Liabilities
1.11.200 31.10.200
1
2
Rs.
Rs.
Bank Balance
560(Cr.) 350(Dr.)
Cash on hand
10
50
Debtors
4,500 3,600
Stock
2,700 2,900
Plant
4,000 4,000
Furniture
1,000 1,000
Ramesh had withdrawn Rs.2000 during the year and had
introduced fresh capital of Rs.4,200 on 1.7.2002. A provision of 5% on
debtors is necessary. Write off depreciation on plant at 10% and furniture
at 15%. Interest on capital is to be allowed at 5%.​

Answer 1

Answer:

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Answer 2

Explanation:

Ramesh keeps his books on single entry basis. Prepare a statement of

affairs as on 31.10.2002 and a statement of profit (or) loss for the period

ending 31.10.2002.

Assets and Liabilities

1.11.200 31.10.200

1

2

Rs.

Rs.

Bank Balance

560(Cr.) 350(Dr.)

Cash on hand

10

50

Debtors

4,500 3,600

Stock

2,700 2,900

Plant

4,000 4,000

Furniture

1,000 1,000

Ramesh had withdrawn Rs.2000 during the year and had

introduced fresh capital of Rs.4,200 on 1.7.2002. A provision of 5% on

debtors is necessary. Write off depreciation on plant at 10% and furniture

at 15%. Interest on capital is to be allowed at 5%.