A commenced business on 1st April, 2018 with a capital of Rs. 10,000. He immediately bought Furniture and Fixtures for Rs. 2,000. On 1st October, 2018, he borrowed Rs. 5,000 from his wife @9% p.a. (interest not yet paid) and introduction a further capital of his own amounting to Rs. 1,500. A drew @ Rs. 300 per month at the end of each month for household expenses. On 31st March, 2019 his position was as follows: Cash in Hand Rs. 2,800, Sundary Debtors Rs. 4,800, Stock Rs. 6,800, Bills Receivable Rs. 1,600, Sundary Creditors Rs. 500 and owing for Rent Rs. 150. Furniture and Fixtures to be depreciated by 10%. Ascertain the profit of loss made by A during 2018-19.

A commenced business on 1st April, 2018 with a capital of Rs. 10,000.

1.	A commenced business on 1st April, 2018 with a capital of Rs. 10,000. He immediately bought Furniture and Fixtures for Rs. 2,000. On 1st October, 2018, he borrowed Rs. 5,000 from his wife @9% p.a. (interest not yet paid) and introduction a further capital of his own amounting to Rs. 1,500. A drew @ Rs. 300 per month at the end of each month for household expenses. On 31st March, 2019 his position was as follows: Cash in Hand Rs. 2,800, Sundary Debtors Rs. 4,800, Stock Rs. 6,800, Bills Receivable Rs. 1,600, Sundary Creditors Rs. 500 and owing for Rent Rs. 150. Furniture and Fixtures to be depreciated by 10%. Ascertain the profit of loss made by A during 2018-19.
Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> at the <a href="https://interviewquestions.tuteehub.com/tag/end-971042" style="font-weight:bold;" target="_blank" title="Click to know more about END">END</a> - <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 11,925; <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> - Rs. 4,025.</body></html>

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