Following information is supplied to you by a shopkeeper:
Following information is supplied to you by a shopkeeper:
|  | 1st April, 2022 (₹) | 31st March, 2023 (₹) |
|
Cash Sundry Debtors Stock Furniture Sundry Creditors Bills Payable |
600 6,800 5,900 1,500 2,000 1,500 |
700 6,400 8,700 1,300 1,800 1,100 |
During the year, the shopkeeper withdrew ₹ 250 per month for domestic purposes. He also borrowed from a friend at 9% p.a. a sum of ₹ 2,000 on 1st October 2022. He has not yet paid the interest. A provision of 5% on debtors for doubtful debts is to be made.
Ascertain the profit or loss made by him during the period.
Anurag Pathak Changed status to publish October 28, 2023
