4 Mr. Bunny keeps his books on Single entry system and the following nformation is available for the year ending 30th June 2020. Particulars As on 1-7-2019 (Rs) As on 30-6-2020 (Rs). eb. 2,000 400 NIL Investments Furniture Stock 400 5,600 6,100 Debtors Cash in hand Creditors Bills Payable 5 4,200 300 3,500 NIL OS. 6,800 400 3,800 A ed 600 1,000 Loan NIL He has drawn Rs.1,000 during the year for personal needs. Prepare a statement showing his profit for the year ending 30th June, 2016 after writing off 10% depreciation on furniture and making a provision for had debts of 10% on dehtors
4 Mr. Bunny keeps his books on Single entry system and the following nformation is available for the year ending 30th June 2020. Particulars As on 1-7-2019 (Rs) As on 30-6-2020 (Rs). eb. 2,000 400 NIL Investments Furniture Stock 400 5,600 6,100 Debtors Cash in hand Creditors Bills Payable 5 4,200 300 3,500 NIL OS. 6,800 400 3,800 A ed 600 1,000 Loan NIL He has drawn Rs.1,000 during the year for personal needs. Prepare a statement showing his profit for the year ending 30th June, 2016 after writing off 10% depreciation on furniture and making a provision for had debts of 10% on dehtors
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![4. Mr. Bunny keeps his books on Single entry system and the following
information is available for the year ending 30th June 2020.
Particulars
As on 1-7-2019 (Rs) As on 30-6-2020 (Rs)
2,000
400
Investments
NIL
Furniture
400
Stock
Debtors
Cash in hand
Creditors
5,600
4,200
300
6,100
6,800
400
o leg
Bills Payable
Loan
3,500
NIL n
3,800
600
NIL
1,000
He has drawn Rs.1,000 during the year for personal needs. Prepare a
statement showing his profit for the year ending 30th June, 2016 after writing off 10%
depreciation on furniture and making a provision for bad debts of 10% on debtors.
Solu](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fedad6f19-f20b-4f6a-84bb-559256dec15a%2Fa2e1abca-ee3c-4e63-a1ed-c8da5d737d90%2Fdp6hcz_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. Mr. Bunny keeps his books on Single entry system and the following
information is available for the year ending 30th June 2020.
Particulars
As on 1-7-2019 (Rs) As on 30-6-2020 (Rs)
2,000
400
Investments
NIL
Furniture
400
Stock
Debtors
Cash in hand
Creditors
5,600
4,200
300
6,100
6,800
400
o leg
Bills Payable
Loan
3,500
NIL n
3,800
600
NIL
1,000
He has drawn Rs.1,000 during the year for personal needs. Prepare a
statement showing his profit for the year ending 30th June, 2016 after writing off 10%
depreciation on furniture and making a provision for bad debts of 10% on debtors.
Solu
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