Shruti maintains her books of account from Incomplete Records. Her books provide the following information:
Shruti maintains her books of account from Incomplete Records. Her books provide the following information:
She withdrew ₹ 500 per month for personal expenses. She sold her Investments of ₹ 16,000 at a 5% premium and introduced the amount into business.
You are required to prepare a Statement of Profit or Loss for the year ending 31st March 2016.
[Capital as at 1st April 2015 – ₹ 33,000; Capital as at 31st March 2016 – ₹ 60,000; Profit – ₹ 16,200.]
| 1st April, 2015 (₹) | 31st March, 2016 (₹) | |
| Cash | 1,200 | 4,000 |
| Debtors | 16,800 | 27,200 |
| Stock | 22,400 | 24,400 |
| Investments | – | 8,000 |
| Furniture | 7,500 | 8,000 |
| Creditors | 14,900 | 11,600 |
Anurag Pathak Changed status to publish January 10, 2024
