Accounts For Incomplete Records in Kannada12 marksproblem|Prepare Revised Statement Affairs

Accounts For Incomplete Records in Kannada12 marksproblem|Prepare Revised Statement Affairs#class12

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[@ramyahosamani6746]

Mr vinayak keeps his books by single entry method. His position on 31.12.2003 was as follows.
Cash in hand 1000, Cash at bank 4000, bills receivable 2000, sundry creditors 10000, sundry debtors 6000, stock in trade 12000, furniture 10000, machinery 15000, and bills payable 2000.
During the year Mr vinayak withdraw 3000 and introduced additional capital OT rs 2000 on 1st July 2004 .
His position on 31.12 2004 as follows:
Cash in hand 3000, Cash at bank 5000, bills receivable 2000, sundry creditor 12000, sundry debtors 10000, stock in trade 14000, and bills payable 1000.
Mr vinayak writes off furniture and machinery at 5% and 10% respectively.
Create reserve for doubtful debts on debtors @5% and interest on capital to be charged at 5% per annum
From above information prepare a of profit and losses and revised statement of affairs as on 31.12.2004
Sir please solve this 🙏

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