Accounts from I...

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

Mr. Mehta started his readymade garments business on April 1, 2004 with a capital of Rs.50,000. He did not maintain his books according to double entry system. During the year he introduced fresh capital of Rs.15,000. He withdrew Rs.10,000 for personal use. On March 31, 2005, his assets and liabilities were as follows: Total creditors Rs.90,000 ; Total debtors Rs.1,25,600 ; Stock Rs.24,750 ; Cash at bank Rs.24,980. Calculate profit or loss

Mr. Mehta started his readymade garments business on April 1, 2004 with a capital of Rs.50,000. He did not maintain his books according to double entry system. During the year he introduced fresh capital of Rs.15,000. He withdrew Rs.10,000 for personal use. On March 31, 2005, his assets and liabilities were as follows: Total creditors Rs.90,000 ; Total debtors Rs.1,25,600 ; Stock Rs.24,750 ; Cash at bank Rs.24,980. Calculate capital at the end

Single Entry System is suitable only for the :

Credit sales can be computed by preparing :

Calculate Fresh capital from the following information
Profit: Rs.2800, Opening capital - Rs.20000, Closing capital - Rs.25000, Withdrawal - Rs.1800

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

Bill Receivable Account is prepared to know:

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 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

Capital in the beginning – Rs.24000, profit made during the year-Rs.4000, drawings - Rs.8000, Capital introduced during the year - Rs.12000.Calculate capital at the end

Capital in the beginning – Rs.16000, profit made during the year - Rs.6000, capital at the end - Rs.26000, Capital introduced during the year - Rs. 8000.Calculate drawings

Calculate Drawing from the following information
Profit: Rs.4000, Opening capital - Rs.30000, Closing capital - Rs.35000, fresh capital - Rs.6000

Which of the following is not prepared under Single Entry System?

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

________ is a statement of assets and liabilities

Calculate creditors balance at the end of the year if purchase for the year is Rs.54306, opening creditors balance is Rs.45500 and cheque paid to the creditor is Rs. 57806

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

Cash received from debtors can be calculated by preparing :

Which of the following is not recorded in the Debtors Account?