Mrs. Bhavana keeps his books by Single Entry System. You're required t

1.	Mrs. Bhavana keeps his books by Single Entry System. You're required to prepare final accounts of her business for the year ended December 31, 2005. Her records relating to cash receipts and cash payments for the above period showed the following particulars Summary of cash ReceiptsAmt. (Rs.)PaymentsAmt. (Rs.)Opening balance of cash12,000Paid to creditors53,000Further capital20,000Business expenses12,000Received from debtors1,20,000Wages paid30,000Bhavana's drawings15,000Balance at bank onDec 31 200535,000Cash in hand7,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,52,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,52,000–––––––––– The following information is aslo available ItemsJan 1, 2005 (Rs.)Dec 31, 2005 (Rs.)Debtors55,00085,000Creditors22,00029,000Stock35,00070,000Plant1,00,0001,00,000Machinery50,00050,000Land and Building2,50,0002,50,000Investment20,00020,000 All her sales and purchases were on credit. Provide depreciation on plant and building by 10% and machinery by 5%. Make a provision for bad debts by 5%.
Answer» Mrs. Bhavana keeps his books by Single Entry System. You're required to prepare final accounts of her business for the year ended December 31, 2005. Her records relating to cash receipts and cash payments for the above period showed the following particulars Summary of cash $\begin{matrix} Receipts & Amt. (Rs.) & Payments & Amt. (Rs.) Opening balance of cash & 12, 000 & Paid to creditors & 53, 000 Further capital & 20, 000 & Business expenses & 12, 000 Received from debtors & 1, 20, 000 & Wages paid & 30, 000 Bhavana's drawings & 15, 000 Balance at bank on Dec 31 2005 & 35, 000 Cash in hand & 7, 000 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 52, 000 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 52, 000 - -------- - \end{matrix}$ The following information is aslo available $\begin{matrix} Items & Jan 1, 2005 (Rs.) & Dec 31, 2005 (Rs.) Debtors & 55, 000 & 85, 000 Creditors & 22, 000 & 29, 000 Stock & 35, 000 & 70, 000 Plant & 1, 00, 000 & 1, 00, 000 Machinery & 50, 000 & 50, 000 Land and Building & 2, 50, 000 & 2, 50, 000 Investment & 20, 000 & 20, 000 \end{matrix}$ All her sales and purchases were on credit. Provide depreciation on plant and building by 10% and machinery by 5%. Make a provision for bad debts by 5%.

Mrs. Bhavana keeps his books by Single Entry System. You're required to prepare final accounts of her business for the year ended December 31, 2005. Her records relating to cash receipts and cash payments for the above period showed the following particulars Summary of cash ReceiptsAmt. (Rs.)PaymentsAmt. (Rs.)Opening balance of cash12,000Paid to creditors53,000Further capital20,000Business expenses12,000Received from debtors1,20,000Wages paid30,000Bhavana's drawings15,000Balance at bank onDec 31 200535,000Cash in hand7,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,52,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,52,000–––––––––– The following information is aslo available ItemsJan 1, 2005 (Rs.)Dec 31, 2005 (Rs.)Debtors55,00085,000Creditors22,00029,000Stock35,00070,000Plant1,00,0001,00,000Machinery50,00050,000Land and Building2,50,0002,50,000Investment20,00020,000 All her sales and purchases were on credit. Provide depreciation on plant and building by 10% and machinery by 5%. Make a provision for bad debts by 5%.

Answer»

Mrs. Bhavana keeps his books by Single Entry System. You're required to prepare final accounts of her business for the year ended December 31, 2005. Her records relating to cash receipts and cash payments for the above period showed the following particulars

Summary of cash

$\begin{matrix} Receipts & Amt. (Rs.) & Payments & Amt. (Rs.) Opening balance of cash & 12, 000 & Paid to creditors & 53, 000 Further capital & 20, 000 & Business expenses & 12, 000 Received from debtors & 1, 20, 000 & Wages paid & 30, 000 Bhavana's drawings & 15, 000 Balance at bank on Dec 31 2005 & 35, 000 Cash in hand & 7, 000 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 52, 000 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 52, 000 - -------- - \end{matrix}$

The following information is aslo available

$\begin{matrix} Items & Jan 1, 2005 (Rs.) & Dec 31, 2005 (Rs.) Debtors & 55, 000 & 85, 000 Creditors & 22, 000 & 29, 000 Stock & 35, 000 & 70, 000 Plant & 1, 00, 000 & 1, 00, 000 Machinery & 50, 000 & 50, 000 Land and Building & 2, 50, 000 & 2, 50, 000 Investment & 20, 000 & 20, 000 \end{matrix}$

All her sales and purchases were on credit.
Provide depreciation on plant and building by 10% and machinery by 5%.
Make a provision for bad debts by 5%.

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