end of the year (Opening Balance is given) . Mrs. Anu started firm with a capital of Rs. , , on 1st July .
She borrowed from her friends a sum of Rs. , , @ % per annum (interest paid) for business and brought a further amount to capital Rs. , on Dec. , , her position was : , , , , , , He withdrew Rs.
, per month for the year. Calculate profit or loss for the year and show your working clearly. [ Ans : Profit : Rs. , ].
. Mr. Arnav does not keep proper records of his business he provided following information, you are required to prepare a statement showing the profit or loss for the year. Capital at the beginning of the year , , , Cash in hand , , Building , , , , Stock in trade , , Further capital introduced , , Drawings made during the period [ Ans : Loss : Rs.
, , ]. Ascertainment of statement of affairs at the beginning and at the end of the year and calculation of profit or loss. . Mr.
Akshat keeps his books on incomplete records following information is given below : April , March , Cash in hand , , Cash at bank , , , , , , Business premises , , , , , , , Bills payable , , During the year he withdrew Rs. , and introduced Rs. , as further capital in the business compute the profit or loss of the business. [ Ans : Profit : Rs.
, ]. . Gopal does not keep proper books of account. Following information is given below: Jan.
, Dec. , Cash in hand , , Cash at bank , , Stock in trade , Sundry debtors , , Sundry creditors , Loan Office equipments Land and Buildings During the year he introduced Rs. , and withdrew Rs. , from the business.
Prepare the statement of profit or loss on the basis of given information [ Ans : Profit : Rs. , ]. . Mr.
Muneesh maintains his books of accounts from incomplete records. His books provide