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Hari maintains his books of account on single entry system. His books provide the following information. LiabilitiesJan.1.2012Dec.31.2012(Rs)(Rs)Furniture200200Stock2,8003,050Sundry Debtors2,1003,400Cash150200Sundry Creditors1,7501,900Bills Receivable−300Loan−500Investments−1,000 His drawing during the year was 500. Depreciate furniture by 10% and provide a reserve for bad debts at 10% on sudry debtors. calculate profit.

Answer»

Hari maintains his books of account on single entry system. His books provide the following information.

LiabilitiesJan.1.2012Dec.31.2012(Rs)(Rs)Furniture200200Stock2,8003,050Sundry Debtors2,1003,400Cash150200Sundry Creditors1,7501,900Bills Receivable300Loan500Investments1,000

His drawing during the year was 500. Depreciate furniture by 10% and provide a reserve for bad debts at 10% on sudry debtors. calculate profit.



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