InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
Mr. Girdhari Lal does not keep full double entry records. His balance as on January 01, 2006 is as follows: LiabilitiesAmt. (Rs.)AssetsAmt. (Rs.)Sundry Creditors 35,000Cash in hand 5,000Bills Payable 15,000Cash at bank 20,000Capital 40,000Sundry debtors 18,000Stock 22,000Furniture 8,000Plant 17,000 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯90,000–––––––––––––––– ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯90,000–––––––––––––––– His position at the end of the year is - (Rs.)Cash in Hand 7,000Stock 8,600Debtors 23,800Furniture 15,000Plant 20,350Bills Payable 20,200Creditors 15,000 He withdrew Rs. 500 per month out of which he spent Rs. 1,500 for business purpose. Prepare the statement of profit or loss. |
|
Answer» Mr. Girdhari Lal does not keep full double entry records. His balance as on January 01, 2006 is as follows: LiabilitiesAmt. (Rs.)AssetsAmt. (Rs.)Sundry Creditors 35,000Cash in hand 5,000Bills Payable 15,000Cash at bank 20,000Capital 40,000Sundry debtors 18,000Stock 22,000Furniture 8,000Plant 17,000 ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯90,000–––––––––––––––– ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯90,000–––––––––––––––– His position at the end of the year is - (Rs.)Cash in Hand 7,000Stock 8,600Debtors 23,800Furniture 15,000Plant 20,350Bills Payable 20,200Creditors 15,000 He withdrew Rs. 500 per month out of which he spent Rs. 1,500 for business purpose. |
|