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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

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Solution

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


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