Question

Statement 01 Allanrs.
me proht or loss of Mr. Raghu and also prepare his final
3
1-4-2017
31-3-2018
Cash in hand
₹
Bank Balance
15,000
16,000
12,000 (Dr.)
Stock-in-Trade
18,000 (Cr.)
40,000
46,500
Sundry Creditors
24,000
36,000
Plant and Machinery
60,000
80,000
Furniture
12,000
16,000
Sundry Debtors
34,000
36,000
During the year, Dildar has withdrawn * 750 per month for his household use. From the
above information, ascertain his profit or loss for the year and also give his Balance Sheet as
on 31st March, 2018 after taking into consideration the following:
(a) Depreciate plant and machinery by 15% p.a. and furniture by 122 p.a. (assume the
additions on 30-9-2017).
(b) Of the debtors, 1,000 are bad and to be written off
(c) Create a provision for discount on debtors at 2% and provision for doubtful debts at 5%.
(d) Allow interest on capital at 5% p.a. and charge interest on drawings at 6%.
20. Dildar keeps his books by single entry method. His financial position on 14 April 2017 and
31 March, 2018 was as follows:​

Answer 1

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Answer 2

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