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Following information is supplied to you by a shopkeeper: |{:(,,"1st April, 2018 (Rs.)","31st March, 2019 (Rs.)"),("Cash",.......................................................,"6,000","7,000"),("Sundry Debtors",.......................................................,"68,000","64,000"),("Stock",.......................................................,"59,000","87,000"),("Furniture",.......................................................,"15,000","13,500"),("Sundry Creditors",.......................................................,"20,000","18,000"),("Bills Payable",.......................................................,"15,000","11,000"):}| During the year, he withdrew Rs. 2,500 per month for domestic purposes. He also borrowed from a friend at 9% a sum of Rs. 20,000 on 1st October, 2018. He has not yet paid the interest. A provision of 5% on debtors for doubtful debts is to be made. Ascertain the profit or loss made by him during the period.

Answer»


ANSWER :PROFIT EARNED during the YEAR - RS. 35,400.


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