Question

From the following find out the total drawing during the year.
Total assets at the beginning of the year Rs.20,000, total assets at the end of the year 15,000, net profit during the year Rs.7000.

• A. Rs. 7000
• B. Rs.12,000
• C. Rs. 8000
• D. Rs.80000

Answer 1

Answer: (B)

Rs.12,000

Calculation of total assets at the end of the year :-

Assets in the beginning of the year =Rs 20000

Add : Net profit for the year 7000

Less : Assets at the end of the year (15000)

= Rs 12000