I want correct answer otherwise I will give downvotes 4. Mr. Bunny keeps his books on Single entry system and the followinginformation is available for the year ending 30th June 2020.ParticularsAs on 1-7-2019 (Rs) As on 30-6-2020 (Rs)2,000400InvestmentsNILFurniture400StockDebtorsCash in handCreditors5,6004,2003006,1006,800400o legBills PayableLoan3,500NIL n3,800600NIL1,000He has drawn Rs.1,000 during the year for personal needs. Prepare astatement 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

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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