From the following information relating to the business of Yug, who keeps books on Single Entry System, ascertain the profit or loss for the year ended 31st March, 2023
From the following information relating to the business of Yug, who keeps books on Single Entry System, ascertain the profit or loss for the year ended 31st March, 2023:
|  | 1st Apri, 2022 (₹) | 31st March, 2023 (₹) |
|
Machinery Furniture Stock Sundry Debtors Bank Balance Sundry Creditors |
8,000 2,000 7,000 4,000 200 (Cr.) 5,000 |
8,000 2,000 5,000 4,500 1,800 (Dr.) 3,500 |
Yug withdrew ₹ 4,100 during the year to meet his household expenses. He introduced ₹ 300 as fresh capital on 15th January 2023. Machinery and Furniture are to be depreciated at 10% and 5% p.a. respectively.
Anurag Pathak Changed status to publish October 28, 2023
