Page 4 - HA- SUBJECTIVE - Copy

Question 10:

Hari maintains her books of account on Single Entry System. His books provide the
following information:

1st 31st

Particulars April, March,
2017 2018
(₹) (₹)
Furniture ............................................................. 2,000 2,000
Stock ............................................................. 28,000 30,500
Sundry Debtors ............................................................. 21,000 34,000
Cash ............................................................. 1,500 2,000
Sundry Creditors ............................................................. 17,500 19,000
Bills Receivable ............................................................. ... 3,000
Loan ............................................................. ... 5,000
Investments ............................................................. ... 10,000

His drawings during the year were ₹ 5,000 Depreciate furniture by 10% and
provide a reserve for Bad and Doubtful Debts at 10% on Sundry Debtors.
Prepare the statement showing the profits for the year.

Question 11:

A commenced business on 1st April, 2017 with a capital of ₹ 10,000. He immediately
bought Furniture and Fixtures for ₹ 2,000. On 1st October, 2017, he borrowed ₹ 5,000

from his wife @ 9% p.a. (interest not yet paid) and introduced a further capital of his own
amounting to ₹ 1,500. A drew @ ₹ 300 per month at the end of each month for
household expenses. On 31st March, 2018 his position was as follows:
Cash in Hand ₹ 2,800; Sundry Debtors ₹ 4,800; Stock ₹ 6,800; Bills Receivable ₹ 1,600;
Sundry Creditors ₹ 500 and owing for Rent ₹ 150. Furniture and Fixtures to be
depreciated by 10%. Ascertain the profit or loss made by A during 2017–18.