Question

Question : From the information given below ascertain the profit for the year

Items	(Rs)
Capital at the beginning of the year	$70,000$
Additional capital introduced during the year	$17,500$
Stock	$59,500$
Sundry Debtors	$25,900$
Business permises	$8,600$
Machinery	$2,100$
Sundry Creditors	$33,400$
Drawings made during the year	$26,400$

Answer 1

Answer :
Statement of Affairs
as on .......

Liabilities	Amt.(Rs)	Assets	Amt.(Rs)
Sundry Creditors	$33,400$	Stock	$59,500$
Capital (b/f)	$62,700$	Sundry Debtors	$25,900$
		Business Premises	$8,600$
		Machinery	$2,100$
	$96,100$		$96,100$

Statements Showing Profit or Loss
for the year ended......

Particulars	Amt. (Rs)
Capital at the end of the year	$62,700$
(+) Drawings made during the year	$26,400$
	$89,100$
(-) Additional Capital introduced during the year	$17,500$
	$71,600$
(-) Capital at the Beginning of the year	$70,000$
Profit made during the year	$1,600$