Question

From the following particulars, prepare the proprietor's Capital Account:

2013		₹
April 1	Started business with	45,000
May 10	Withdrew from business for personal use	10,000
July 15	Further Capital introduced	55,000
Nov. 30	Income tax paid	5,000
2014
Mar. 31	Profit for the year	30,000

Answer 1

Proprietor’s Capital Account
Dr.				Cr.
Date	Particulars	Amount (Rs)	Date		Particulars	Amount (Rs)
2013			2013
Mar.10	Drawings A/c	10,000	Apr.01		Cash A/c	45,000
Nov.30	Drawings A/c ( Income Tax)	5,000	July 15		Cash A/c	55,000
2014			2014
Mar.31	Balance c/d	1,15,000	Mar.31		Profit and Loss A/c	30,000
		1,30,000				1,30,000