Related InterviewSolutions

• From the following information, Calculate Capital at the beginning : Capital at the end of the year = Rs 4,00,000 Drawings made during the year = Rs 60,000 Fresh Capital introduce during the year = Rs 1,00,000 Profit of the current year = Rs 80,000
• Incomplete record mechanism of book keeping is:A. ScientificB. UnscientificC. UnsystematicD. both b) and c)
• Credit purchase, during the year is ascertained by preparing:A. Total debtors accountB. Total creditors accountC. Cash accountD. Opening statements of affairs.
• Find out the credit purchases from the following:
• From the following information ascertain the opening balance of sundry debtors and closing balance of sundry creditors Accounts from Incomplete Record The rate of gross profit is 25% on selling price and out of the total salesRs 85,000 was for cash sales. Hint: Total sales = Rs 4,00,000 = `3,00,000 xx 100/75`
• From the following information calculate the amount to be paid to creditors:
• Gopal does not keep proper books of account. Following information is given below: During the year he introduced Rs 20,000 and withdrew Rs 12,000 from the business. Prepare the statement of profit or loss on the basis of given information
• M/s Saniya Sports Equipment does not keep proper records. From the following information find out profit or loss and also prepare balance sheet for the year ended March 31, 2017 Drawing Rs 10,000 p.m. for personal use, fresh capital introduce during the year Rs 2,00,000. A bad debts of Rs 2,000 and a provision of `5%` is to be made on debto Rs outstanding salary Rs 2,400, prepaid insurance Rs 700, depreciation charged on furniture and machine @ `10%` p.a.
• Mr. Akshat keeps his books on incomplete records following information is given below : During the year he withdrew Rs 45,000 and introduced Rs 25,000 as further capital in the business compute the profit or loss of the business.
• Mr. Muneesh maintains his books of accounts from incomplete records. His books provide the information : He withdrew Rs 300 per month for personal expenses. He sold his investment of Rs 16,000 at `2%` premium and introduced that amount into business.