year ended December , . Opening balance of debtors , , Opening balance of bills receivable , Cash sales made during the year , Credit sales made during the year , , Return inwards , Cash received from debtors , , Discount allowed to debtors , Bills receivable endorsed to creditors , Cash received (bills matured) , Irrecoverable amount Closing balance of bills receivable on Dec. , , [ Ans : Bills received : Rs. , , ; Closing balance of debtors : Rs.
, , ]. . Prepare the suitable accounts and find out the missing figure if any. Opening balance of debtors , , Opening balance of bills receivable , , Closing balance of bills receivable , , Cheque dishonoured , Cash received from debtors , , Cheque received and deposited in the bank , , , Irrecoverable amount , Returns inwards , Bills receivable received from customers , , Bills receivable matured , , Bills discounted , Bills endorsed to creditors , [ Ans : Credit sales : Rs.
, , ]. . From the following information ascertain the opening balance of sundry debtors and closing balance of sundry creditors. Opening stock Closing stock Opening creditors Closing debtors , Discount allowed by creditors , Discount allowed to customers , Cash paid to creditors , , Bills payable accepted during the period Bills receivable received during the period , Cash received from customers , , Bills receivable dishonoured , Purchases , , The rate of gross profit is % on selling price and out of the total sales Rs.
, was for cash sales. Hint : Total sales = , , = × , , [ Ans : Opening balance of debtors : Rs. , ; Closing balance of creditors: Rs. , , ].
Mrs. Bhavana keeps his books by Single Entry System. You’re required to prepare final accounts of her business for the year ended December , . Her records relating to cash receipts and cash payments for the above period showed the following particulars : Summary of Cash Receipts Payments Opening balance of cash , Paid to creditors , Further capital Business expenses , Received from debtors , ,