Raj commenced business on 1st April, 2022 with a capital of ₹ 1,00,000. He immediately bought furniture and fixture for ₹ 20,000
Raj commenced business on 1st April, 2022 with a capital of ₹ 1,00,000. He immediately bought furniture and fixture for ₹ 20,000. On 30th September, 2022, he borrowed from his wife ₹ 50,000 @ 9% p.a. (interest not yet paid) and introduced a further capital of his own amounting to ₹ 15,000. Raj drew @ ₹ 3,000 p.m. at the end of each month for household expenses. On 31st March, 2023, his financial position was as under:
| Particulars | ₹ | Particulars | ₹ |
|
Cash in Hand Sundry Debtors Stock |
28,000 48,000 68,000 |
Bills Receivable Sundry Creditors Owing for Rent |
16,000 5,000 1,500 |
Calculate Profit or Loss of Raj for the year ended 31st March, 2023.
Anurag Pathak Changed status to publish October 28, 2023
