Advertisements
Advertisements
प्रश्न
Ananth does not keep his books under double entry system. Find the profit or loss made by him for the year ending 31st March, 2019.
| Particulars | 31.3.2018 ₹ |
31.3.2019 ₹ |
| Cash at Bank | 5,000 (Dr.) | 60,000 (Cr.) |
| Cash in hand | 3,000 | 4,500 |
| Stock of goods | 35,000 | 45,000 |
| Sundry Debtors | 1,00,000 | 90,000 |
| Plant and Machinery | 80,000 | 80,000 |
| Land and Buildings | 1,40,000 | 1,40,000 |
| Sundry Creditors | 1,70,000 | 1,30,000 |
Ananth had withdrawn ₹ 60,000 for his personal use. He had introduced ₹ 17,000 as capital for the expansion of his business. Create a provision of 5% on debtors. Plant and machinery is to be depreciated at 10%.
उत्तर
Statement of Affairs
| Liabilities | 31.3.2018 | 31.3.2019 | Assets | 31.3.2018 | 31.3.2019 |
| Cash at Bank | 60,000 | Cash at Bank | 5,000 | ||
| Sundry Creditors | 1,70,000 | 1,30,000 | Cash in hand | 3,000 | 4,500 |
| Capital | 1,93,000 | 1,57,000 | Stock of goods | 35,000 | 45,000 |
| Sundry Debtors | 1,00,000 | 85,500 | |||
| Plant and Machinery | 80,000 | 72,000 | |||
| Land and Buildings | 1,40,000 | 1,40,000 | |||
| 3,63,000 | 3,47,000 | 3,63,000 | 3,47,000 |
Statement of profit or Loss
| Particulars | ₹ |
| Closing capital | 1,57,000 |
| (+) Drawings | 60,000 |
| 2,17,000 | |
| (−) Additional capital | 17,000 |
| Adjusted capital | 2,00,000 |
| (−) Opening capital | 1,93,000 |
| Profit | 7,000 |
APPEARS IN
संबंधित प्रश्न
Opening statement of affairs is usually prepared to find out the ___________.
When capital in the beginning is ₹ 10,000, drawings during the year is ₹ 6,000, profit made during the year is ₹ 2,000 and the additional capital introduced is ₹ 3,000, find out the amount of capital at the end.
Opening balance of debtors: ₹ 30,000, cash received: ₹ 1,00,000, credit sales: ₹ 90,000; closing balance of debtors is ______________.
State the accounts generally maintained by small sized sole trader when a double-entry accounting system is not followed.
What is a statement of affairs?
State the procedure for calculating profit or loss through the statement of affairs.
From the following particulars ascertain profit or loss:
| Particulars | ₹ |
| Capital at the beginning of the year (1st April, 2018) | 5,00,000 |
| Capital at the end of the year (31st March, 2019) | 8,50,000 |
| Additional capital introduced during the year | 1,20,000 |
| Drawings during the year | 70,000 |
From the following details, calculate the missing figure.
| Particulars | ₹ |
| Closing capital as on 31.3.2018 | 80,000 |
| Additional capital introduced during the year | 30,000 |
| Drawings during the year | 15,000 |
| Opening capital on 01.4.2017 | ? |
| Loss for the year ending 31.3.2018 | 25,000 |
From the following details, calculate the missing figure:
| Particulars | ₹ |
| Capital as on 1st April, 2018 | 40,000 |
| Capital as on 31st March, 2019 | 50,000 |
| Additional capital introduced during the year | 7,000 |
| Profit for the year | 8,000 |
| Drawings during the year | ? |
Raju does not keep proper books of accounts. Following details are taken from his records.
| Particulars | 1.1.2018 ₹ |
31.12.2018 ₹ |
| Cash at bank | 80,000 | 90,000 |
| Stock of goods | 1,80,000 | 1,40,000 |
| Debtors | 90,000 | 2,00,000 |
| Sundry creditors | 1,30,000 | 1,95,000 |
| Bank Loan | 60,000 | 60,000 |
| Bills payable | 80,000 | 45,000 |
| Plant and machinery | 1,70,000 | 1,70,000 |
During the year he introduced further capital of ₹ 50,000 and withdrew ₹ 2,500 per month from the business for his personal use. Prepare the statement of profit or loss with the above information.
