Raghuveer keeps incomplete records. His position was as follows:
Raghuveer keeps incomplete records. His position was as follows:
During the year, Raghuveer introduced ₹ 50,000 as further capital in the business and withdrew ₹ 7,500 per month. From the above information, show Profit or Loss for the year ended 31st March, 2023.
[Ans. Opening Capital ₹ 2,65,000; Closing Capital ₹ 3,48,000 and Profit ₹ 1,23,000.]
| 31st March, 2022 | 31st March, 2023 | |
| Cash in Hand | 2,000 | 3,000 |
| Cash at Bank | 30,000 | 20,000 |
| Stock-in-Trade | 2,00,000 | 1,90,000 |
| Sundry Debtors | 85,000 | 1,40,000 |
| Plant & Machinery | 1,50,000 | 2,70,000 |
| Fixtures and Fittings | 18,000 | 15,000 |
| Sundry Creditors | 2,20,000 | 2,90,000 |
Anurag Pathak Answered question
