accounts from i...

Calculate sales for the year from the following
Debt taken over – Rs.1134, payments received- Rs.33870, discount allowed -Rs.1023, bad debts written off – Rs.460, contra- Rs.609 , Closing balance of sales-Rs.1755

Calculate purchases for the year
Paid to creditors -Rs.21096, discount received – Rs.190, Contra –Rs. 609, cash purchases- Rs.207, creditors taken over – Rs.994, Closing balance of creditors- Rs.1289

Calculate closing capital from the following information
Drawings – Rs.7000, profit during the year-Rs.20000, , Capital introduced during the year- 20000,opening capital – Rs.70000

Capital in the beginning is Rs.30000 , capital at the end is Rs.35000, and creditors were Rs.8,000. Value of total assets _______

Rohit who keeps his books on single entry system, business capital at the end is Rs.187000 and in the beginning Rs.192000.He withdrew Rs.84200. He once sold his investment of Rs.20000 at 2 % premium and brought that money into the business. Calculate net profit for the year

Pawan started his business on 1st January 2012 with a capital of Rs.10000. On 31st December his assets were cash- Rs.320, stock- Rs.3480, Debtors -Rs.3100, plant- Rs.8500.
He owed Rs.1200 to creditors and Rs.1000 to his brother on that date. He withdrew Rs.200 per month for his private expenses. Ascertain his profit

Pawan started his business on 1st January 2008 with a capital of Rs.10000. On 31st December his assets were cash- Rs.320, stock- Rs.3480, Debtors- Rs.3100, plant- Rs.8500.
He owed Rs.1200 to creditors and Rs.1000 to his brother on that date. He withdrew Rs.200 per month for his private expenses. Calculate capital

Calculate provision for doubtful debt. If debtor closing balance is Rs.3400 and provision for reserve of doubtful debts at 10% on sundry debtors

Calculate net profit from the following information- Gross profit is Rs.2750.If debtor closing balance is Rs.3400 and provision for reserve of doubtful debts at 10% on sundry debtors, depreciation is Rs.20

Calculate profit if closing capital is Rs.14250, additional capital is Rs.200 , opening capital is Rs.11300 and drawings @ Rs.100 per month