accounting

posted by .

amair started the business with a capital of rs60000 on 1jan 2009 during the year he had with drawn goods rs8000 and cash rs5000for personal use he has also paid life insurance premium rs.2000 he had aiso introduced additional capital of rupees 20000 on 1st july .2009
on 31st december 2009 you have the following information
cash in hand 40000
buildings 60000
credtors 20000
loan from cousin 5000
dabitors 30000
machinery 50000
stock 30000
investment 30000
you are required to find profit or loss after considering rupees 2000 for bad and doubtfull debts deprecialt on machinery 10% and buildings 5% provide interest and capital 10% and also your required

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting

    Max Stevenson owns a local drug store. During the past few years, the economy has been experiencing a period of high inflation. Stevenson has had the policy of withdrawing cash from his business equal to 80% of the company's reported …
  2. accounting

    Please computate retained earnings During 2009, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2008, Edgemont had assets of $350,000,liabilities of $80,000, and capital …
  3. Accounting

    started the accounting period with $30000 in cash assets, $18000 of liabilities and 4000 - common stock. During the yer earned $48000, paid cash expenses of $32,000, paid a cash dividend to stockholders - $2000. Aquired $10,000 addition …
  4. Accounting

    Carpaitha Inc began 2009 with $140,000 in cash. The company plans to have $1,400,000 accrual basis sales revenue during the year, of which it plans to collect 80% in 2009 and the other 20% in 2010. The company plans to record the following …
  5. financial accounting

    Connection Station, an internet cafĂ©, had the following operating activities during the month of May: 1. Bought 800 in jump drives and disks, which are available for resale from Office Depot on credit 2. Paid 900 in utilities for …
  6. Business, finance

    Assets and Liabilities. 1. The owner invested 36000 in cash to begin the business 2. paid 9,180 in cash for the purchase of equipment 3. purchased additional equipment for 5600 4. paid 4500 in cash to creditors 5. the owners made an …
  7. Accounting

    The Harding Co. in its first year earned $39,000 in revenues and received $33,000 cash from customers. They incurred expenses $22,000, but had not paid $2,250 of them at year-end. Harden also prepaid $3,750 cash for expenses to be …
  8. Accounting

    Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. Invested cash in business, $18,428. Bought office supplies for $4,433: $1,896 in cash and $2,537 on account. Paid one-year insurance …
  9. Math

    The Joseph, Inc. uses the accrual basis of accounting. Joseph's insurance expense account had a $23,000 balance at the end of the year. The prepaid insurance account had a $6,000 balance at the beginning of the year and a $3,000 balance …
  10. need help!

    I posted a question and didn't get it answered, why?

More Similar Questions