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Reddy keeps his books by single entry system. On 1-4-2019 his financia position was as follows: e0 000.00 2S-Rs. Rs. Cash in hand o 1,250 Cash at bank Stock in trade 2,000 350 15,100 5,900 7,500 Fix tures 9,800 Plant Sundry dcbtors b Sundry creditors 9,000 Drawings On 31-3-2020 his financial position was as follows: sben aadtno oRs. Sundry creditors Fixtures Rs. 7,500 Plant 320 Debtors 18,100 13,300 1,150 14,000 Cash in hand 3,600 You are required to prepare a statement of profit or loss and a closin Stock in trade Bank overdraft statement of affairs

Reddy keeps his books by single entry system. On 1-4-2019 his financia position was as follows: e0 000.00 2S-Rs. Rs. Cash in hand o 1,250 Cash at bank Stock in trade 2,000 350 15,100 5,900 7,500 Fix tures 9,800 Plant Sundry dcbtors b Sundry creditors 9,000 Drawings On 31-3-2020 his financial position was as follows: sben aadtno oRs. Sundry creditors Fixtures Rs. 7,500 Plant 320 Debtors 18,100 13,300 1,150 14,000 Cash in hand 3,600 You are required to prepare a statement of profit or loss and a closin Stock in trade Bank overdraft statement of affairs

FINANCIAL ACCOUNTING
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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Reddy keeps his books by single entry system. On 1-4-2019 his financial position was as follows: oe000.00 S Rs.ao 000 Rs. Cash in hand 1,250 Cash at bank Stock in trade 7,500 Fix tures Sundry dcbtors b Sundry creditors 9,000 Drawings On 31-3-2020 his financial position was as follows: Myd abem aad o foRs. Sundry creditors Fixtures 2,000 350 90:0 15,100 5,900 9,800 Plant Rs. 7,500 Plant 320 Debtors 18,100 13,300 1,150 Stock in trade 14,000 Cash in hand Bank overdraft enA 3,600 You are required to prepare a statement of profit or loss and a closing statement of affairs. 000.65
Transcribed Image Text:Reddy keeps his books by single entry system. On 1-4-2019 his financial position was as follows: oe000.00 S Rs.ao 000 Rs. Cash in hand 1,250 Cash at bank Stock in trade 7,500 Fix tures Sundry dcbtors b Sundry creditors 9,000 Drawings On 31-3-2020 his financial position was as follows: Myd abem aad o foRs. Sundry creditors Fixtures 2,000 350 90:0 15,100 5,900 9,800 Plant Rs. 7,500 Plant 320 Debtors 18,100 13,300 1,150 Stock in trade 14,000 Cash in hand Bank overdraft enA 3,600 You are required to prepare a statement of profit or loss and a closing statement of affairs. 000.65
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