1.

Charu do not keep proper books of accounts. Prepare the statement of profit or loss for the year ending 31-3-2017 from the following information: 1-4-2016 31-3-2017 ₹ ₹ Cash in hand 10,000 36,000 Debtors 20,000 80,000 Creditors 10,000 46,000 Bills Receivable 20,000 24,000 Bills Payable 4,000 42,000 Car – 80,000 Stock 40,000 30,000 Furniture 8,000 48,000 Investment 40,000 50,000 Bank balance 1,00,000 90,000 The following adjustments are to be made:(a) Proprietor withdrew cash ₹ 5,000 per month for private use.(b) Depreciation 5% on Car and 10% on furniture.(c) Outstanding Rent ₹ 6,000.(d) Fresh Capital introduced during the year ₹ 30,000.

Answer» Charu do not keep proper books of accounts. Prepare the statement of profit or loss for the year ending 31-3-2017 from the following information:































































1-4-2016 31-3-2017
₹ ₹
Cash in hand 10,000 36,000
Debtors 20,000 80,000
Creditors 10,000 46,000
Bills Receivable 20,000 24,000
Bills Payable 4,000 42,000
Car – 80,000
Stock 40,000 30,000
Furniture 8,000 48,000
Investment 40,000 50,000
Bank balance 1,00,000 90,000



The following adjustments are to be made:

(a) Proprietor withdrew cash ₹ 5,000 per month for private use.

(b) Depreciation 5% on Car and 10% on furniture.

(c) Outstanding Rent ₹ 6,000.

(d) Fresh Capital introduced during the year ₹ 30,000.


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