Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2023 and for that the following information is available
Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2023 and for that the following information is available:
|  | 1st April, 2021 (₹) | 31st March, 2022 (₹) |
|
Cash in Hand Bank Balance Furniutre Stock Creditors Debtors |
150 750 100 500 350 250 |
175 800 100 650 400 300 |
During the year, he had withdrawn ₹ 500 for his personal use and invested ₹ 250 as additional capital. Calculate his profit on 31st March, 2023 and prepare the statement of Affairs as on that date.
Anurag Pathak Changed status to publish October 28, 2023
