Sagheer is not writing his books properly. From the following information prepare astatement showing profit or loss and statement of affairs for the year ending 30th June, 1991.1.7.199030.6.1991Cash in hand900280021400 v28400Debtors22800Creditors31200Stock3340037400Bills receivable3050028800Bank overdraft4080039200Motor van42004200Furniture34003400Drawings Rs. 4800; Depreciate furniture at 10 %. Write off Rs. 800 on motor van. ProvidėRs. 1000 as bad debts and 5 % as reserve on debtors. Provide reserve of Rs. 1600 on Billsreceivable.

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Sagheer is not writing his books properly. From the following informátión prepare a statement showing profit or loss and statement of affairs for the year ending 30th June, 1991. 1.7.1990 30.6.1991 Cash in hand 900 2800 Debtors 22800 21400 28400 Creditors Stock 31200 33400 37400 Bills receivable 30500 28800 Bank overdraft 40800 39200 Motor van 4200 4200 Furniture 3400 3400 Drawings Rs. 4800; Depreciate furniture at 10 %. Write off Rs. 800 on motor van. Providė Rs. 1000 as bad debts and 5 % as reserve on debtors. Provide reserve of Rs. 1600 on Bills

Sagheer is not writing his books properly. From the following informátión prepare a statement showing profit or loss and statement of affairs for the year ending 30th June, 1991. 1.7.1990 30.6.1991 Cash in hand 900 2800 Debtors 22800 21400 28400 Creditors Stock 31200 33400 37400 Bills receivable 30500 28800 Bank overdraft 40800 39200 Motor van 4200 4200 Furniture 3400 3400 Drawings Rs. 4800; Depreciate furniture at 10 %. Write off Rs. 800 on motor van. Providė Rs. 1000 as bad debts and 5 % as reserve on debtors. Provide reserve of Rs. 1600 on Bills

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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