Mr. John keeps his books according to single entry system. Following are the details of his...

 

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Mr. John keeps his books according to single entry system. Following are the details of his business: 01.04.2012 31.03.2013 Particulars Amount (Rs.)Amount (Rs.) 70,000 10,000 Stock 36,000 Sundry debtors 72,200 Cash in hand 3,000 Cash at bank 42,000 Sundry creditors54,500 Machinery Furniture 70,000 20,000 42,000 88,400 4,100 52,300 60,400 Addition information: (1) Mr. John had introduced Rs. 20,000 as additional capital on 1st October, 2012. (2) Mr. John had withdrawn Rs. 15,000 for his personal use during the year. (3) Additions to furniture were made on 1st October, 2012. (4) Deprecate machinery at 10% p.a. and further at 20% p.a. Prepare: (1) Opening and closing Statement of Affairs. (2) Statement of Profit or Loss for the year ending on 31st March, 2013. Mr. John keeps his books according to single entry system. Following are the details of his business: 01.04.2012 31.03.2013 Particulars Amount (Rs.)Amount (Rs.) 70,000 10,000 Stock 36,000 Sundry debtors 72,200 Cash in hand 3,000 Cash at bank 42,000 Sundry creditors54,500 Machinery Furniture 70,000 20,000 42,000 88,400 4,100 52,300 60,400 Addition information: (1) Mr. John had introduced Rs. 20,000 as additional capital on 1st October, 2012. (2) Mr. John had withdrawn Rs. 15,000 for his personal use during the year. (3) Additions to furniture were made on 1st October, 2012. (4) Deprecate machinery at 10% p.a. and further at 20% p.a. Prepare: (1) Opening and closing Statement of Affairs. (2) Statement of Profit or Loss for the year ending on 31st March, 2013.

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