BALANCE SHEET as at 31st March, 2018
|
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Liabilities |
₹ |
Assets |
₹ |
|
Long's Capital A/c |
1,20,000 |
Fixed Assets |
3,00,000 |
|
Short's Capital A/c |
1,40,000 |
Other Assets |
60,000 |
|
General Reserve |
1,00,000 |
|
|
|
|
3,60,000 |
|
3,60,000 |
|
|
|
|
|
During the year, Long withdrew ₹ 40,000 and Short withdrew ₹ 50,000. Profit for the year was ₹ 1,50,000 out of which ₹ 1,00,000 was transferred to General Reserve.