1.

Hari maintains his books of account on Single Entry System. His books provide the following information: |{:(,,"1st April, 2018 (Rs.)","31 March, 2019 (Rs.)"),("Furniture",.......................................................,"2,000","2,000"),("Stock",.......................................................,"28,000","30,500"),("Sundry Debtors",.......................................................,"21,000","34,000"),("Cash",.......................................................,"1,500","2,00"),("Sundry creditors",.......................................................,"17,500","19000"),("Bills Receivable",.......................................................,"...","5,000"),("Loan",.......................................................,"...","5,000"),("Investments",.......................................................,"...","10,000"):}| His drawing during the year were Rs. 5,000. Depreciate furniture by 10% and provide a reserve for Bad and Doubtful Debts at 10% on Sundry Debtors. Prepare the statement showing the profits for the year.

Answer»


ANSWER :PROFIT during the YEAR - RS. 23,900.


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