Mr. Ravi Kumar keeps his books on single entry. His position on 31st December, 2019 was as follows: Cash at bank Rs. 3,000; Stock Rs. 20,000; Debtors Rs. 30,000; Machinery Rs. 50,000 and Creditors Rs. 25,000. His position on 31st December. 2020 was as follows: Cash at Bank Rs. 4,000; Stock Rs. 25,000; Debtors Rs. 45,000; Machinery Rs. 50,000 and Creditors Rs. 25,000 During the year he introduced Rs. 10,000 as further capital and withdrew from business Rs. 3,000 per month From the above information ascertai
Mr. Ravi Kumar keeps his books on single entry. His position on 31st December, 2019 was as follows: Cash at bank Rs. 3,000; Stock Rs. 20,000; Debtors Rs. 30,000; Machinery Rs. 50,000 and Creditors Rs. 25,000. His position on 31st December. 2020 was as follows: Cash at Bank Rs. 4,000; Stock Rs. 25,000; Debtors Rs. 45,000; Machinery Rs. 50,000 and Creditors Rs. 25,000 During the year he introduced Rs. 10,000 as further capital and withdrew from business Rs. 3,000 per month From the above information ascertai
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Mr. Ravi Kumar keeps his books on single entry. His position on 31st December,
2019 was as follows:
Cash at bank Rs. 3,000; Stock Rs. 20,000; Debtors Rs. 30,000; Machinery Rs. 50,000
and Creditors Rs. 25,000.
His position on 31st December. 2020 was as follows:
Cash at Bank Rs. 4,000; Stock Rs. 25,000; Debtors Rs. 45,000;
Machinery Rs. 50,000 and Creditors Rs. 25,000
During the year he introduced Rs. 10,000 as further capital and withdrew from
business Rs. 3,000 per month
From the above information ascertai
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