LO. Radha agencies keeping its books under single entry sysle From the following prepare "statement of affairs" and find ot: profit/loss for the year ending 31-03-2018. Particulars 31-03-2017 31-03-2018 Fixed Assets 40,000 .68,000 Current Assets 15,000 27,000 Current Liabilities 20,000 14,000 Additional information : (1) Additional capital introduced during the year was 12,000 (2) Personal drawings from the business were Rs. 3,300. (3) Depreciate 10% on fixed assets. (4) 5% discount reserve on current liabilities.

LO. Radha agencies keeping its books under single entry sysle From the following prepare "statement of affairs" and find ot: profit/loss for the year ending 31-03-2018. Particulars 31-03-2017 31-03-2018 Fixed Assets 40,000 .68,000 Current Assets 15,000 27,000 Current Liabilities 20,000 14,000 Additional information : (1) Additional capital introduced during the year was 12,000 (2) Personal drawings from the business were Rs. 3,300. (3) Depreciate 10% on fixed assets. (4) 5% discount reserve on current liabilities.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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