1.

Following incomplete information is available from records maintained by Mr. X: 1-4-2016 31-3-2017 ₹ ₹ Cash 1,000 1,500 Bank 8,000 10,000 Debtors 10,000 12,000 Stock 7,000 6,000 Machinery 20,000 20,000 Creditors 11,000 10,000 Bank Loan 12,000 12,000 During the year Mr. X introduced in the business the amount realised on sale of ₹ 10,000 investments at the premium of 5%. Personal expenses of Mr. X paid from business account amounted to ₹ 1,250 per month. Prepare a statement to calculate Profit (or Loss) during the year.

Answer» Following incomplete information is available from records maintained by Mr. X:

















































1-4-2016 31-3-2017
₹ ₹
Cash 1,000 1,500
Bank 8,000 10,000
Debtors 10,000 12,000
Stock 7,000 6,000
Machinery 20,000 20,000
Creditors 11,000 10,000
Bank Loan 12,000 12,000

During the year Mr. X introduced in the business the amount realised on sale of ₹ 10,000 investments at the premium of 5%. Personal expenses of Mr. X paid from business account amounted to ₹ 1,250 per month. Prepare a statement to calculate Profit (or Loss) during the year.


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