Krishna Kulkarni has not kept proper books of accounts. Prepare the st

1.	Krishna Kulkarni has not kept proper books of accounts. Prepare the statement of profit or loss for the year ending December 31, 2005 from the following information: ItemsJan 1, 2005 (Rs.)Dec 31, 2005 (Rs.)Cash in hand10,00036,000Debtors20,00080,000Creditors10,00046,000Bills receivable20,00024,000Bills payable4,00042,000Car –––80,000Stock40,00030,000Furniture8,00048,000Investment40,00050,000Bank Balance1,00,00090,000 The following adjustements were made- (a) Krishna withdrew cash Rs 5,000 per month for private use. (b) Depreciation 5% on car and furniture 10%. (c) Outstanding rent Rs.6,000. (d) Fresh capital introduced during the yaer Rs.30,000.
Answer» Krishna Kulkarni has not kept proper books of accounts. Prepare the statement of profit or loss for the year ending December 31, 2005 from the following information: $\begin{matrix} Items & Jan 1, 2005 (Rs.) & Dec 31, 2005 (Rs.) Cash in hand & 10, 000 & 36, 000 Debtors & 20, 000 & 80, 000 Creditors & 10, 000 & 46, 000 Bills receivable & 20, 000 & 24, 000 Bills payable & 4, 000 & 42, 000 Car & - - - & 80, 000 Stock & 40, 000 & 30, 000 Furniture & 8, 000 & 48, 000 Investment & 40, 000 & 50, 000 Bank Balance & 1, 00, 000 & 90, 000 \end{matrix}$ The following adjustements were made- (a) Krishna withdrew cash Rs 5,000 per month for private use. (b) Depreciation 5% on car and furniture 10%. (c) Outstanding rent Rs.6,000. (d) Fresh capital introduced during the yaer Rs.30,000.

Krishna Kulkarni has not kept proper books of accounts. Prepare the statement of profit or loss for the year ending December 31, 2005 from the following information: ItemsJan 1, 2005 (Rs.)Dec 31, 2005 (Rs.)Cash in hand10,00036,000Debtors20,00080,000Creditors10,00046,000Bills receivable20,00024,000Bills payable4,00042,000Car –––80,000Stock40,00030,000Furniture8,00048,000Investment40,00050,000Bank Balance1,00,00090,000 The following adjustements were made- (a) Krishna withdrew cash Rs 5,000 per month for private use. (b) Depreciation 5% on car and furniture 10%. (c) Outstanding rent Rs.6,000. (d) Fresh capital introduced during the yaer Rs.30,000.

Answer»

Krishna Kulkarni has not kept proper books of accounts. Prepare the statement of profit or loss for the year ending December 31, 2005 from the following information:

$\begin{matrix} Items & Jan 1, 2005 (Rs.) & Dec 31, 2005 (Rs.) Cash in hand & 10, 000 & 36, 000 Debtors & 20, 000 & 80, 000 Creditors & 10, 000 & 46, 000 Bills receivable & 20, 000 & 24, 000 Bills payable & 4, 000 & 42, 000 Car & - - - & 80, 000 Stock & 40, 000 & 30, 000 Furniture & 8, 000 & 48, 000 Investment & 40, 000 & 50, 000 Bank Balance & 1, 00, 000 & 90, 000 \end{matrix}$

The following adjustements were made-

(a) Krishna withdrew cash Rs 5,000 per month for private use.

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

(d) Fresh capital introduced during the yaer Rs.30,000.

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment