Advertisements
Advertisements
Question
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 | ? |
Solution
Statement of Profit or Loss
| Particulars | ₹ |
| Closing capital | 50,000 |
| (+) Drawings | 5,000 |
| 55,000 | |
| (−) Additional capital | 7,000 |
| Adjusted capital | 48,000 |
| (−) Opening capital | 40,000 |
| Profit | 8,000 |
APPEARS IN
RELATED QUESTIONS
Statement of affairs is a ___________.
Which of the following items relating to bills payable is transferred to the total creditors account?
The amount of credit sales can be computed from _____________.
What is the amount of capital of the proprietor, if his assets are ₹ 85,000 and liabilities are ₹ 21,000?
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 particulars ascertain profit or loss.
| Particulars | ₹ |
| Capital as on 1st January 2018 | 2,20,000 |
| Capital as on 31st December 2018 | 1,80,000 |
| Additional capital introduced during the year | 40,000 |
| Drawings made during the year | 50,000 |
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 capital as on 31st December 2018.
| Particulars | ₹ |
| Capital as on 1st January, 2018 | 1,00,000 |
| Goods withdrawn for personal use by the owner | 30,000 |
| Additional capital introduced during the year | 15,000 |
| Profit for the year | 60,000 |
Which of the following items relating to bills payable is transferred to the total creditors account?
