Page 12 - HA- SUBJECTIVE - Copy

Question 32:

Calculate Total Sales from the following information:

Bills Receivables as on 1st April, 2017 7,800
Debtors as on 1st April, 2017 30,800
Cash received on maturity of Bills Receivable during the 20,900
year
Cash received from Debtors 70,000
Bad Debts written off 4,800
Returns Inward 8,700
Bills Receivable dishonoured 1,800
Bills Receivable on 31st March, 2018 6,000
Debtors as on 31st March, 2018 25,500
Cash Sales during the year 15,900
₹

Question 33:

Roshan, whose accounts are maintained by Single Entry System, acquired a retail
business on 1st April, 2017. He had ₹40,000 of his own and he borrowed ₹ 20,000 from
his wife. He paid ₹15,000 for Goodwill, ₹5,000 for Furniture and ₹35,000 for Stock.
Total cash received by him during the financial year from the Debtors was ₹2,30,000.
His payments were:

₹
Purchases 1,56,000
Salary and Wages 21,400
Trade Expenses 7,200
Rent:
For business premises 5,920
For private house 2,960
Payments made for domestic purposes and
drawings 26,400

At the end of the year, the Stock was ₹37,500. He owed ₹13,500 to
Creditors for goods and his customers owed to him ₹15,000. Provide 5%
for Depreciation on Furniture, Interest at 5% on wife's Loan and ₹1,000 for
Doubtful Debts.
Prepare the Cash Account, the Profit and Loss Account for the year ended
31st March, 2018 and the Balance Sheet at the close of the year.