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Hari maintains her books of account on Single Entry System. His books provide the following information: Particulars 1st April, 2017 (₹) 31st March, 2018 (₹) 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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Answer» Hari maintains her books of account on Single Entry System. His books provide the following information:
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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