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Question
From the following information, calculate capital at the beginning :
₹
Capital at the end of the year
24,00,000
Drawing Made during the year : ₹ 10,000 per month
Fresh Capital introduced during the year
4,00,000
Profit of the current year
6,60,000
| ₹ | |
| Capital at the end of the year | 24,00,000 |
| Drawing Made during the year : ₹ 10,000 per month | |
| Fresh Capital introduced during the year | 4,00,000 |
| Profit of the current year | 6,60,000 |
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Solution
Statement of Profit or Loss
for the year ended December 31, 2005
Particulars
Amount
(Rs)
Capital at the end of the year
24,00,000
Add: Drawings made during the year (10,000 × 12)
1,20,000
Less: Additional capital introduced during the year
4,00,000
Adjusted capital at the end of the year
21,20,000
Less: Capital in the beginning of the year (Balancing Figure)
14,60,000
Profit made during the year
6,60,000
|
Statement of Profit or Loss
for the year ended December 31, 2005
|
||
| Particulars | Amount (Rs) |
|
| Capital at the end of the year | 24,00,000 | |
|
Add: Drawings made during the year (10,000 × 12)
|
1,20,000 | |
|
Less: Additional capital introduced during the year
|
4,00,000 | |
| Adjusted capital at the end of the year | 21,20,000 | |
|
Less: Capital in the beginning of the year (Balancing Figure)
|
14,60,000 | |
| Profit made during the year | 6,60,000 | |
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