Question : Mr Arnav does not keep proper records of his business he provided following information. You are required to prepare a statement showing the profit or loss of the year.
Items (Rs)
Capital at the beginning of the year $15, 00, 000$
Bills receivable $60, 000$
Cash in hand $80, 000$
Furniture $9, 00, 000$
Building $10, 00, 000$
Creditors $6, 00, 000$
Stock in trade $2, 00, 000$
Further capital introduced $3, 20, 000$
Drawings made during the period $80, 000$

Prepare Statement of affairs at the end of the year and calculate of profit and loss.

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Solution

Answer :
Statement of Affairs at the end of the Year
Liabilities Amt. (Rs) Assets Amt. (Rs)
Creditors $6, 00, 000$ Bills Receivables $60, 000$
Capital (Balancing Figure) $16, 40, 000$ Cash in Hand $80, 000$
Furniture $9, 00, 000$
Buildings $10, 00, 000$
Stock in Trade $2, 00, 000$
$22, 40, 000$ $22, 40, 000$

Statement Showing Profit or Loss for the Year
Particulars Amt. (Rs)
Capital at the end of the year $16, 40, 000$
$80, 000$
(-) Capital Introduced during the year $17, 20, 000$
$3, 20, 000$
(-) Capital at the beginning of the year $14, 00, 000$
$15, 00, 000$
Loss during the year $1, 00, 000$

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Q. Mr. Vasudev does not keep proper records of his business. He provided following information. You are required to prepare a statement showing the profit or loss for the year.

			(₹)
Owner's Equity at the beginning of the year			15,00,000
Bills Receivable			60,000
Cash in hand			80,000
Furniture			9,00,000
Building			10,00,000
Creditors			6,00,000
Stock in trade			2,00,000
Further capital introduced			3,20,000
Drawings made during the period			80,000

Mr. Arnav does not keep proper records of his business. He provided following information.You are required to prepare a statement showing the profit or loss for the year.

$\begin{matrix} Items & (Rs.) Capital at the beginning of the year & 15, 00, 000 Bills receivable & 60, 000 Cash in hand & 80, 000 Furniture & 9, 00, 000 Building & 10, 00, 000 Creditors & 6, 00, 000 Stock in trade & 2, 00, 000 Further capital introduced & 3, 20, 000 Drawings made during the period & 80, 000 \end{matrix}$

Ascertainment of statement of affairs at the end of the year and calculation of profit and loss.

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

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Q. Question : Gopal does not keep proper records in the books of account. Following information is given below.

Items	Jan 1, 2005	Dec 31, 2005
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Cash at bank	$1, 500$	$2, 000$
Stock in trade	$80, 000$	$90, 000$
Sundry Debtors	$36, 000$	$60, 000$
Sundry Creditors	$60, 000$	$40, 000$
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Office equipments	$25, 000$	$30, 000$
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During the year he introduced Rs

20, 000

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Q. Mr. Joshi started a business with a capital of ₹ 5,00,000. At the end of the year his position was:

			(₹)
Cash in hand			15,000
Cash at bank			70,000
Sundry Debtors			1,20,000
Stock			2,40,000
Furniture			75,000
Machinery			2,00,000

Sundry creditors at this date totalled ₹ 80,000. During the year he introduced a further capital of ₹ 1,50,000 and withdrew for household expenses ₹ 90,000.
You are required to calculate profit or loss during the year.

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Items	(Rs)
Capital at the beginning of the year	$15, 00, 000$
Bills receivable	$60, 000$
Cash in hand	$80, 000$
Furniture	$9, 00, 000$
Building	$10, 00, 000$
Creditors	$6, 00, 000$
Stock in trade	$2, 00, 000$
Further capital introduced	$3, 20, 000$
Drawings made during the period	$80, 000$

Liabilities	Amt. (Rs)	Assets	Amt. (Rs)
Creditors	$6, 00, 000$	Bills Receivables	$60, 000$
Capital (Balancing Figure)	$16, 40, 000$	Cash in Hand	$80, 000$
		Furniture	$9, 00, 000$
		Buildings	$10, 00, 000$
		Stock in Trade	$2, 00, 000$
	$22, 40, 000$		$22, 40, 000$

Particulars	Amt. (Rs)
Capital at the end of the year	$16, 40, 000$
	$80, 000$
(-) Capital Introduced during the year	$17, 20, 000$
	$3, 20, 000$
(-) Capital at the beginning of the year	$14, 00, 000$ $15, 00, 000$

Loss during the year	$1, 00, 000$