Mayank does not keep proper records of his business, he gives you the following information:

₹

Opening Capital 1,00,000

Closing Capital 1,25,000

Drawings during the year 30,000

Capital added during the year 37,500

Calculate the profit or loss for the year.

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Solution

Statement of Profit or Loss

Particulars

Amount

(Rs)

Capital at the end

1,25,000

Add: Drawings

30,000

1,55,000

Less: Additional Capital Introduce

(37,500)

Adjusted Capital at the end

1,17,500

Less: Capital in the beginning

1,00,000

Net Profit for the year

17,500

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Similar questions

			(₹)
Opening Capital			2,00,000
Closing Capital			2,50,000
Drawings made during the year			60,000
Capital added during the year			75,000

Mr. Kapil does not keep proper records of his business and he provided the following information.

You are required to prepare a statement showing the profit or loss for the year 2011-12.
Opening Capital (01-04-2011) , 50,000

Closing Capital (31-03-2012) , 1,00,000

Additional capital introduced (2011-12) , 20,000

Drawings made during the year (2011-12) , 40,000

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	₹
Opening Capital	1,00,000
Closing Capital	1,25,000
Drawings during the year	30,000
Capital added during the year	37,500

Statement of Profit or Loss
Particulars	Amount (Rs)
Capital at the end	1,25,000
Add: Drawings	30,000
	1,55,000
Less: Additional Capital Introduce	(37,500)
Adjusted Capital at the end	1,17,500
Less: Capital in the beginning	1,00,000
Net Profit for the year	17,500