Problem No. 1
Radhika keeps her
books under Single entry system. Her Assets & Liabilities were as follows.
|
Particulars
|
1st
April, 2015
|
31st
March, 2016
|
|
Cash in hand
Bills Payable
Sundry Creditors
Plant & Machinery
Sundry Debtors
Stock
|
10,000
--
1,50,000
6,00,000
3,90,000
3,40,000
|
11,000
50,000
1,49,000
8,00,000
4,50,000
3,20,000
|
During the year 2015-16 she
brought additional capital
10,000 & withdrew
10,000 per month for household
expernses.
Calculate the
profit or loss for the year ended 31st March, 2016.
(Ans.: Opening Capital :
11,90,000,
Closing Capital :
13,82,000 and
Net Profit
3,02,000)
*Problem No. 2
A trader had not kept proper
books of accounts but from the following details, you are required to ascertain
the profit or loss for the year ended 31st March, 2017.
|
Particulars
|
01-04-2016
|
31-03-2017
|
|
Stock
Debtors
Creditors
Cash Balance
Bank Balance
Bank Overdraft
Bills Receivable
Fixture & Fittings
Motor Van
|
33,400
22,400
30,800
500
---
38,400
32,000
3,000
3,900
|
36,200
21,200
38,400
2,800
5,800
---
10,000
3,000
---
|
The trader has withdraw
4,800 for his personal expenses. Depreciate fixtures &
fittings By 10% . Provide
1,000 as Bad debts & 1,100 as Doubtful Debts.
(Ans: Opening Capital :
26,000, Closing Capital :
40,600 and Net Profit
17,000)
----------------------------------------------------------------------------------------------------------------------------
Comments
Post a Comment