Mrs Bhavana keeps his books by Single Entry System You re required to prepare final accounts of her ...........

Accountancy (11th) Chapter-11 Accounts from Incomplete Records

Mrs Bhavana keeps his books by Single Entry System. You.re required to prepare final accounts of her business for the year ended March 31, 2017. Her records relating to cash receipts and cash payments for the above period showed the following particulars : (5 marks)

Summary of Cash
Dr.			Cr.
Receipts	Amount Rs	Payments	Amount Rs
Opening balance of cash	12,000	Paid to creditors	53,000
Further capital	20,000	Business expenses	12,000
Received from debtors	1,20,000	Wage paid	30,000
		Bhavana’s drawings	15,000
		Balance at bank on	35,000
		March. 31,2017
		Cash in hand	7,000
	1,52,000		1,52,000

The following information is also available:

	April. 01, 2016		March. 31, 2017
		Rs		Rs
Debtors		55,000		85,000
Creditors		22,000		29,000
Stock		35,000		70,000
Plant		10,00,000		1,00,000
Machinery		50,000		50,000
Land and Building		2,50,000		2,50,000
Investment		20,000		20,000

All her sales and purchases were on credit. Provide depreciation on plant and building by 10% and machinery by 5%, make a provision for bad debts by 5%.

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