Question

Ramesh Prakash maintain his accounts on single entry system. Following information
is available:
Particulars
1st April, 2016 (3) 31st March, 2017)
Sundry debtors
94.400
99,200
Sundry creditors
96.000
1,01 600
Furniture
48.000
43,200
Stoch
87 200
92.000
Land and building
34,000
1,30,000
Cash at bank
18.000
74,000
He withdrew 4,000 per month for his personal use and withdrew goods # 12,000 for
household needs. He also introduced ? 32,000 in his business. Calculate his profit
after considering following adjustments:
1. Create provision on debtors @ 6%.
2. Prepaid rent 1,600.
3. Depreciation on furniture @10%.
4. Outstanding salary? 2,600.
(8)​

Answer 1

Answer:

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