Cash-III : When opening capital is given
Illustration 3
Ms. Preeti started a business with a capital of Rs. 10,00,000. At the and of the year her
position was :
| Particulars | Amount Rs. |
| Cash in Hand | 1,50,000 |
| Cash at Bank | 1,50,000 |
| Sundry Debtors | 80,000 |
| Bills Receivables | 70,000 |
| Stock | 2,00,000 |
| Furniture | 3,00,000 |
| Machinery | 7,50,000 |
Sundry creditors on this date was Rs. 1,00,000 . During the year she introduced a further capital of Rs. 4,50,000 and withdraw for household expenses Rs. 1,50,000. You are required to ascertain the profit or loss during the year
Solution :
Statement of Profit or loss
For the year ended on ................
Note :
'Statement of Affairs' at the beginning of the period is not prepared because
Opening capital is given in the question.
CBSE Accountancy Class XI ( By Mr. Aniruddh Maheshwari )
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