Kumaran, a trader, does not keep proper boods of account. However, he furnishes you the following particulars: {:(,"31st March, 2018 (Rs.)","31st March, 2019 (Rs.)"),("Cash at Bank","4,500","3,000"),("Cash in Hand","300","4,000"),("Stock-in-Trade","40,000","45,000"),("Debtors","12,000","20,000"),("Office Equipment","5,000","5,000"),("Sundry Creditors","30,000","20,000"),("Furniture","4,000","4,000"):} During the year Kumaran introduced Rs. 6,000 as further capital and withdrew Rs. 4,000 as drawings. Write off Depreciation on furniture at 10% andon office equipment at 5%. Prepare a statement showing the Profit or Loss made by him for the year ended 31st March, 2019.

Kumaran, a trader, does not keep proper boods of account. However, he

1.	Kumaran, a trader, does not keep proper boods of account. However, he furnishes you the following particulars: {:(,"31st March, 2018 (Rs.)","31st March, 2019 (Rs.)"),("Cash at Bank","4,500","3,000"),("Cash in Hand","300","4,000"),("Stock-in-Trade","40,000","45,000"),("Debtors","12,000","20,000"),("Office Equipment","5,000","5,000"),("Sundry Creditors","30,000","20,000"),("Furniture","4,000","4,000"):} During the year Kumaran introduced Rs. 6,000 as further capital and withdrew Rs. 4,000 as drawings. Write off Depreciation on furniture at 10% andon office equipment at 5%. Prepare a statement showing the Profit or Loss made by him for the year ended 31st March, 2019.
Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<img src="https://d10lpgp6xz60nq.cloudfront.<klux>NET</klux>/physics_images/TSG_ACC_XI_C20_S01_005_S01.png" width="80%"/> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_005_S02.png" width="80%"/> <br/> <a href="https://interviewquestions.tuteehub.com/tag/alternatively-1974405" style="font-weight:bold;" target="_blank" title="Click to know more about ALTERNATIVELY">ALTERNATIVELY</a>, if <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> before <a href="https://interviewquestions.tuteehub.com/tag/certain-407894" style="font-weight:bold;" target="_blank" title="Click to know more about CERTAIN">CERTAIN</a> adjustments (e.g., Depreciation on Fixed Assets, Provision for Doubtful Debts, etc.) is also calculated in addition to net profit, the above solution will be as follows: <br/> The Statement of Affairs as at 31st March, 2019 will be same as given above. But the Statement of of Affairs (before Adjustments) will be prepared as follows: <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_005_S03.png" width="80%"/> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_005_S04.png" width="80%"/></body></html>

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