Saved Bookmarks
| 1. |
Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2019 and for that following information is available: 1st April, 2018 (₹) 31st March, 2019 (₹) Cash in Hand 1,50,000 1,75,000 Bank Balance 7,50,000 8,00,000 Furniture 1,00,000 1,00,000 Stock 5,00,000 6,50,000 Creditors 3,50,000 4,00,000 Debtors 2,50,000 3,00,000 During the year, he had withdrawn ₹ 5,00,000 for his personal use and invested ₹ 2,50,000 as additional capital. Calculate his profits on 31st March, 2019 and prepare the Statement of Affairs as on that date. |
||||||||||||||||||||||||||||
Answer» Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2019 and for that following information is available:
During the year, he had withdrawn ₹ 5,00,000 for his personal use and invested ₹ 2,50,000 as additional capital. Calculate his profits on 31st March, 2019 and prepare the Statement of Affairs as on that date. |
|||||||||||||||||||||||||||||