1.

Hari maintains his books of account on Single Entry System. His books provide the following information: 1st April, 2018 (₹) 31st March, 2019 (₹) Furniture 2,000 2,000 Stock 28,000 30,500 Sundry Debtors 21,000 34,000 Cash 1,500 2,000 Sundry Creditors 17,500 19,000 Bills Receivable ... 3,000 Loan ... 5,000 Investments ... 10,000 His drawings during the year were ₹ 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» Hari maintains his books of account on Single Entry System. His books provide the following information:


























































1st April, 2018

(₹)

31st March, 2019

(₹)

Furniture
2,000


2,000

Stock
28,000


30,500

Sundry Debtors
21,000


34,000

Cash
1,500


2,000

Sundry Creditors
17,500


19,000

Bills Receivable
...


3,000

Loan ... 5,000
Investments
...


10,000




His drawings during the year were ₹ 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.


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