GIVEN BELOW ARE THE CHANGES IN ACCOUNTS IN ACCOUNT BALANCES OF AHMED, A RETAILER IN GERNERAL MERCHANDISE,FOR THE FISCAL YEAR ENDED OCTOBER 31,2003:
CASH 48000 ACCUMULATED DEPRECIATION 10000
DEBATORS (8000) ACCOUNTS PAYABLE (5000)
PBD (200) ACCURED LIABILITIES 400
STOCK IN TRADE (15000) AHMED,CAPITAL 44800
EQUPIMENT 25000
THE PARENTHENSIS DENOTE A DECREASE IN THE DEBIT OR CREDIT BALANCES NORMAL IN ACCOUNT.
DEBATORS OF RS.1000 WERE WRITTEN OFF AS UNCOLLECTIBLE ,EQUIPMENT COASTING RS.7500 WAS SOLD FOR RS.3000 RESULTING IN LOSS OF RS.600 , NET INCOME INCLUDING THE LOSS AN EQUPIMENT ,AMMOUNTED TO RS.64800.
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